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Technology Stocks : Ascend Communications (ASND)

ASND 206.91

-2.4%

11:09 AM EST

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To: Thomas M. who wrote (38289)	3/8/1998 12:36:00 PM
From: Peter Yang	Read Replies (1) of 61433

<<China's economy is carried by its exports, which are mostly low quality, low price goods. China's SE Asian competitors just lowered their costs by 50% via currency devaluation. This is going to kill China if they don't devalue. The Yuan is slipping in the black market.>> The value of the Yuan is mostly a political issue rather than an economic one for Chinese government. The Currency market in China is not open. The exchange rate is determined by the government and free exchange is not allowed. The value increase or decrease of the Yuan will be determined by the Chinese government if the Chinese economy would benefit from the change either way. In other word, if you see value of the Yuan changes (either up or down), you know the Chinese government believes that's a good change, otherwise they'll do whatever they can to stop the change and they can do it.

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