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Strategies & Market Trends : Roger's 1998 Short Picks
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To: Joey Two-Cents who wrote (7635)4/22/1998 11:44:00 PM
From: Oeconomicus  Read Replies (2) of 18691
 
Hey, Joey. Saw that Long Beach shipping figure on ABC News tonight. In that port alone, exports to Asia were down 17% while imports from there were up 34%. They also noted that shipments of empty shipping containers to Asia was up 40%. (all March vs. year ago March)

BTW, did you see the Forbes article on "The Shanghai bubble" (April 20, page 48)? Office vacancies are 50% and headed to 60% this year while the building continues. "...between 1994 and 2000 Shanghai will have built 75 million square feet of office space, equal to today's entire stock in Hong Kong." The funding for this speculative building frenzy came mostly from Chinese banks, according to the article.

I hope the Japanese learned their lesson about bad real estate loans and didn't play in this one too.

Bob
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