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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 174.82

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3:59 PM EST

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To: SKIP PAUL who wrote (6159)	12/11/1997 1:31:00 PM
From: dougjn	Read Replies (2) of 152472

Korea does not simply have a mismatch of maturities. It has VASTLY higher debt to equity ratios than rest of the developed world. They need a massive bankruptcy liquidation sale for any quick fix. That will involve massive layoffs, which are unknown in Korea. Korea will probably only partly do this, at best. Japan (which is in much better NET debt position, in fact is world's largest creditor, due to massive popular savings despite insolvent financial institutions), has basically refused to do this for 7 years and has been trying to very slowly grow their way into solvency, rather than allowing a crash, and relatively rapid recovery. (Of course a crash would have the attendant wiping out of many powerful people and institutions with their deeply under water real estate, corp. divisions, etc., as well as wiping out the ruling party's grip on power temporarily, with layoffs, etc. Doug

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