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Technology Stocks : Cymer (CYMI)
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To: JRGEE who wrote (7074)10/28/1997 11:50:00 PM
From: D.J.Smyth  Read Replies (2) of 25960
 
JR, if it is any comfort, the big money managers will simply throw a blanket over the rotting corpse in Southeast Asia for a while now until it serves their purpose to uncover it again (in the meantime it won't affect Cymer or its business model). So enjoy the music while it lasts. The problem in Asia is not one of currency risk or monetary instability, but rather one of despotism. You have "free markets" in the West (if you can call them that) and despot markets in Southeast Asia controlled by Central Committees and the two are at odds. If China ever got their head on straight and allowed a true market economy in mainland China, China would be another Japan in less than ten years. For China's Central Committee it is one of lust for power. Until China learns that it must give up power in order to gain it (as the U.S. has proved for the past 200 years) economically, they will always follow and never lead. Coupled with their power problem is the matter of moral persuasion. Southeast Asia has a religious system with no permanent address in the people's minds to give the masses moral stability. If China gave up political market power it would need a moral base upon which free markets could freely work. China continues the despotism because of the grave lack of a moral base - they jail their few Christians and continue to persecute other sects. It is odd to note that in China where the Christian population is booming (Southern Central China) the economy there is also booming. Charles Colson the former Richard Nixon party intellectual recently observed that Thomas Jefferson and his group felt that an expanding free market needed three cornerstones in order to work properly; (a) democratic government (b) free speech and (c) moral base - you lose one of these three bases and the rest fall. It was Colson who made these above remarks regarding Southeast Asia, not me. I thought it was worth noting. Colson went to prison for graft, but his recent books are very insightful. He was one of America's brightest minds in the Nixon era and still is - at least now he claims to have a "moral base".

as for Cymer - just think what this company's worth could be (and all chip companies for that matter) if China began to open their doors more as the West is pressuring them to do!
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