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To: geewiz who wrote (12401)	12/28/1997 8:46:00 PM
From: Joan Osland Graffius	Read Replies (1) of 18056

geewiz, >> I have been suprised how little research the brokerages, even ones that handle the red chip offerings have on the Chinese economy. It is the failure of planned economies that have mis-allocated so much of the investment capital in SEA. Lets face it, our brokerage houses have done a dis-service to investors in this country lately. It is my opinion there are very few analysts that look at the industry they are covering and do any macro economic evaluations. This group of folks have become lazy and expect the companies they follow to tell them what is going on with in the industry instead of getting their butt out there and find out for themselves. Now that I have that off my chest. I believe China will change from the current HK currency arrangement. The question is when. I would think they will remove their peg to the dollar before Jan 1 1999 when the Euro becomes a reality. At this time there will be two competing currencies the Euro and the Dollar and I would expect all currencies to be floating when this occurs. There is just to much risk of trying to pick a peg in this environment. It is also my opinion the Euro will be a stronger currency than the Dollar. Joan

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