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To: Dulane U. Ponder who wrote (12170)12/28/1997 3:49:00 PM
From: MulhollandDrive  Read Replies (1) of 97611
 
#1>>the region has many strengths--high national savings rates, budgetary discipline, work ethic, heavy investment in human capital through education and decades of past sucess in export markets.<<

#2>>IMF-sponsored program as reforming its banking system, restructuring corporate governance, reducing the dead hand of state control of the ecomony or promoting "transparancy" and fairness in a system that has rewarded a corrupt elite rather than the public at large.<<

The Korean crises began basically as a financial event which had its genesis in the corrupt and "untransparant" financial markets and corporations, as noted in paragraph #2. IMO, it will take strong medicine doled out by the IMF with a heavy emphasis on reforming these institutions before confidence will be restored. Once they take the medicine, paragraph #1 can come to the fore.
BWTHDIK
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