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Politics : Formerly About Applied Materials
AMAT 223.31-3.2%Nov 13 3:59 PM EST
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To: Teri Skogerboe who wrote (17692)3/13/1998 9:22:00 PM
From: JMD  Read Replies (1) of 70976
 
Teri, all. About 2 months ago, Barton Biggs (morgan stanley, jp morgan-forget which and I'm in a hurry) was in on a Barron's Round Table discussion and suggested that Japan was becoming "the Italy" of Asia and calmly prognosticated that the world's 2nd largest economy was very likely to surrender its leadership position to Taiwan, China--take your pick. I was shocked to read it then but the more time goes on, it seems more and more plausible to me. The optimistic scenario is that Japan won't crash but rather melt away as other stronger Asia hands take their place. I must say that in the vacuum of leadership seen thus far coupled with the absurd shenanigans we are seeing to prop up the Nikkei, Japan could be defaulting itself into second tier status. Certainly far stranger things have happened. Mike Doyle
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