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Strategies & Market Trends : HONG KONG

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To: MikeM54321 who wrote (1610)	5/15/1998 8:33:00 AM
From: Ron Bower	Read Replies (1) of 2951

Mike, China is relying on an export surplus of $US140B this year. A currency devaluation would make this virtually impossible. China's exports grew over 13% in the 1st Q '98 compared to 20% for all of last year. Surplus was $US40B. Many companies are seeing increased orders, even from Japanese companies. This would indicate that there is no need for them to make any policy changes near term. China should condemn Japan and Taiwan for their failure to support currencies, but I don't see this as an indicator that they will allow the $HK or the Rmb to weaken. IMO - There's a lot of unwarranted panic in the Asian markets and unwarranted optimism in US markets. For what it's worth, Ron

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