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Strategies & Market Trends : Asia Forum

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To: Rational who wrote (1082)	1/18/1998 7:00:00 PM
From: Stitch	Read Replies (1) of 9980

Sankar, Welcome back. It is very good to see your posts again. You wrote: <<A very unfortunate aspect the SE Asian saga is that the lenders (mostly from wealthy countries) did not care to monitor their borrowers in SE Asia>> I fear the practice was passed on in the form of equally unmonitored loans by the Asian banks to various businesses, projects, and consumers here. You also wrote: <<The best strategy for these countries (as I had advocated a long ago on SI) is to let the lenders go through the standard recovery process for a failed borrower and bite their own bullet.>> I agree but note that undoubtedly, it will lead to much tighter credit policies in the future ( a good thing) which is something the Asian tigers, and especially their noveau riche businessmen, may not be quite used to. In any case, I believe it is highly unlikely we will see 8-9% growth in this region again any time in the forseeable future. And at the moment, what I fear most is a social backlash. What prescriptions could you suggest that may avoid social unrest while the piper is being paid? Best, Stitch

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