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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: james paterson who wrote (4133)12/1/1997 6:18:00 PM
From: RealMuLan  Read Replies (1) of 95453
 
I think it is still too early to say the growth will be slow for Asia as a whole. China plays an important role in Asia economic growth and increasing consumption of oil in the world. So long as China can still maintain 8% growth rate for next year (no one says it cannot yet), I think East Asia should do fine. Of course, if the situation in South Korea and Japan becomes worse for relatively longer period of time, then China's growth rate will be negatively affected. But not until then, you can conclude the economic growth will be slow in whole Asia. The following is from last week's AsiaWeek:

Sadiq Currimbhoy is a regional strategist at Merrill Lynch in Hong Kong. Here is a part of his interview by AsiaWeek relating to China:

AsiaWeek:
What does deflation mean to China?

Sadiq Currimbhoy:
Numbers from China in recent weeks suggest that its economy is still showing some signs of life, meaning inflation will be very
low and interest rates will continue to come down. China's current-account surplus allows it to cut interest rates further to
expand local demand without worrying about external imbalances. We expect economic growth in China to be above 8% next year, and that should support Hong Kong's growth too.
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