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Strategies & Market Trends : Asia Forum

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To: kormac who wrote (3891)	5/26/1998 8:43:00 PM
From: MikeM54321	Read Replies (2) of 9980

Here's some figures out of the Atlantic Monthly article. It goes to show why the Japanese are so slow in changing. Their "crisis" is probably like no other in economic history: >>Money has been pouring into postal savings since the crisis began, last year, and the system now holds, with insurance and pensions, the yen equivalent of $3 trillion-enough to pay off there fifths of America's national debt. It is by far the biggest (and most stagnant) pool of capital in the world. Japanese savings in banks and the post-office system have been said to be two-thirds of all the money readily available to lend to our indebted planet.... With its immense cushion of cash, Japan faces no immediate crisis on the scale of what the "Tiger" economies have suffered. It is the world's top creditor, with external holdings worth close to a trillion dollars. the Bank of Japan has $225 billion in foreign-exchange reserves, nearly twice what the IMF's bailout plan is to cost. Japan's current-account surplus will be $100 billion this year, and probably $150 billion next year...<< MikeM(From Florida)

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