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Technology Stocks : Semi-Equips - Buy when BLOOD is running in the streets!
LRCX 159.74+1.0%3:59 PM EST
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To: Jay M. Harris who wrote (4288)1/3/1998 3:52:00 PM
From: Clarksterh   of 10921
 
FYI - Reasons why Taiwan is not following rest of SEA:

The most recent issue of The Economist had an article on why Taiwan is showing considerably more strength than the rest of SEA. It boiled down to two main things:

1) Although 30 years ago the Taiwan govt. directed the banks to make loans to the 'right' industries (like the rest of Asia), this practice has largely faded away in Taiwan (unlike the rest of Asia, China and Japan included).

2) Bankrupcy in Taiwan is allowed. In the rest of Asia it is, for all practical purposes, not allowed. (In fact, one of the main IMF imposed reforms is to make bankrupcy easier to enforce, and quicker to occur.) Thus, all of the Taiwanese companies know that the wolf is at the door at all instants, and are more careful about debt, and the uses to which it is put.

Clark
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