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Politics : Ask Michael Burke

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To: yard_man who wrote (27889)	5/2/1998 10:22:00 AM
From: Knighty Tin	Read Replies (4) of 132070

Tip, Asia is a three-edged sword of a problem for Chile. First, they are major customers who buy about a third of Chilean production. This is also the case of other Latin American countries, so it slows their growth, and they are Chile's other large group of trading partners. Then, we have the problem that Asia competes with Chile in the production and export of raw materials. All in all, a weak Asia is a bad thing for Chile. That being said, The Chile Fund reacted violently to the troubles in Asia. The price fell from the low 20s to the low teens. The discount on the fund is now close to 20%. Despite all these problems, Chilean GDP is growing in the 5-6% range THIS YEAR, somewhere between double and triple the US growth rate. Shares are cheap and the discount on the fund makes them cheaper. This is hardly the hard sale. This is bargain basement stuff. The kind I love. MB

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