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Technology Stocks : MEMC INT'L. (WFR -NYSE) The Sleeping Giant?
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To: Zeev Hed who wrote (2937)1/18/1998 5:16:00 PM
From: ----------  Read Replies (1) of 4697
 
Ooops. Sorry about that Zeev. At least I was correct that your actual rate would increase, not decrease. <g>

Your example is excellent, and points to one of the major reasons
I am as confident about the HK/China stock markets as you are about
WFR's future price potential. This is from the Friday South China Morning Post:

Dai Xianglong repeated the message given on
Thursday to US Deputy Treasury Secretary
Lawrence Summers, and which will be given to
International Monetary Fund managing director
Michel Camdessus today, that China has no need
or desire to devalue its currency.

''Our foreign exchange reserves reached US$139.9
billion at the end of last year. This year our
international balance of payments will remain good,
with a strong growth in exports and China
remaining number two in the world in inward
foreign investment,'' he said.

Another lesson is the need to monitor closely
foreign debts, with the Asian crisis in many
countries not due to budget deficits or insufficient
foreign reserves but private and commercial firms
borrowing too much, especially short-term debt,
and not reporting it to central banks.

''China will closely examine the qualifications of
companies wanting to borrow and severely punish
those who do so without approval,'' Mr Dai said.

As you most likely are aware, "severly punish" in China does NOT
mean the defendant gets to hire Johnny Cochran & F. Lee Bailey, and
then go play golf after the trial.

Regards,

Doug
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