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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 174.17

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11:17 AM EST

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To: Harvey Rosenkrantz who wrote (9389)	3/25/1998 11:11:00 AM
From: Ramsey Su	Read Replies (1) of 152472

Harvey, I thought I asked you not to tell anyone about my meeting with Zhu Rongji in Beijing. He assured me that he was going to roll out the red carpet for Dr. J. Who knows, Dr. J might have stayed in the same hotel as I did. Seriously, it is crucial (just my opinion) that QCOM grab the opportunity to do some type of manufacturing JV in China. An article I read last year (sorry, don't know where to reference) stated that the MPT was concerned about being too reliant on GSM and wanted to have a competiting system (what!! free market ideas in China??) when they started doing all the testing with QCOM and MOT at various cities. So far, I am afaid that CDMA is far behind GSM in China. With the new economic development plans, the China under Zhu clearly wants to deal with the unemployment problem without selling out. They are currently experiencing a severe brain drain with approximately 1/3 of students that leave China not returning. (there are probably a few of them that occassionally post on this thread) China needs to retain their talent and technology is one of the major thrust of Zhu's new plan. QCOM has a handset contract with Great Wall Telecom now. They MUST do a deal for future manufacturing in China. If they don't, not only are they risking losing more grounds to ERICY but also Samsung and other Koreans. Dr. J, if you are reading this, just take a chance and sign the deal (assuming there must be some proposals at work now). Off Topic, Japan will be very interesting next week. Major Japanese banks announced that they will be reporting FY end (march 98) using US type system. This is expected to make their books more transparent but may finally reveal a bad loan problem twice as high as reported now. The street can easily report this as good news by interpreting it as Japan finally willing to face the problem. My guess is that it will show how Japan had financed much of Asia's growth which may be in serious jeopardy now. Ramsey

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