MB, I think the effectiveness of the "dumping!" whine is over. A few weeks ago a major S. Korean semicon industry association was scheduled to meet with European officials to discuss ending what is left of their anti-dumping measures (not that Europe is where the action is at re: box-making).
Also, I've got to believe that any "anti-dumping" provisions (which I've always read as "hey Mr. politician, these foreign firms are beating us on price, please help...") could actually hurting the American box-makers who do assembly here (then again, maybe a foreign operation gets the goods and they end up here and MNC accounting takes care of the rest).
Don't know where the issue stands in DC at present, but I doubt if the big U.S. DRAM buyers are having their K Street pals making an argument that, if I understand it right, possibly limits the availability of lower cost components.
So IF MU has gotten some mileage out of operating in a market that is to some extent less than a "free market" (i.e. perhaps regulations intended to do X, Y, and Z are actually import barriers?), what happens when the market actually opens up?
Good trading,
Tom |
