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Strategies & Market Trends : Roger's 1998 Short Picks
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To: Joey Two-Cents who wrote (6190)4/4/1998 11:12:00 PM
From: Tom Hua  Read Replies (1) of 18691
 
I also see China devaluing later this year

Joey, it won't happen. Last year, a secret deal, which recently became known, called for China not to devalue its currency, in exchange the U.S. will help China gain membership in the World Trade Organization and pressure Japan to import more Chinese goods. The new Chinese premier last week reiterated the no devaluation policy. While this will put pressure on its economy in the near term, the Chinese goverment is betting on the long term payout.

Regards,

Tom
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