Mike -
*** off topic ***
The market had a reason to worry about when the blasted bombs and US sanctions were announced. We expected a temporary setback followed by a recovery whereas the y2k companies remained unaffected. We also expected that international politics would take a different direction in favor of US companies as reported below (Re.: US Assistant Secretary of State - The Hindu 6/10/98). India, Pakistan, Bangladesh, China, etc. offer a great market for US goods and technology.
"...The U.S. is 'absolutely convinced' that it is now time for India and Pakistan to resume a dialogue and to address the fundamental issues that have divided them for 50 years. According to The Far Eastern Economic Review, the U.S. regards Kashmir as an issue between India and Pakistan. The U.S. Deputy Secretary of State, Mr. Strobe Talbott, said, 'we accept absolutely...that in the final analysis this is an issue between India and Pakistan and needs to be worked out between the two of them.' But the U.S. would urge the U.N. to play a constructive role in resolving the issue which 'has been on its agenda since the birth of India, the birth of Pakistan and the birth of the U.N.' Mr. Talbott also said the U.S. sanctions on India and Pakistan would be softened to avoid hurting poor people and American companies. The U.S. Assistant Secretary of State for South Asia, Mr.Karl Inderfurth, told South Asia journalists that the international community was directly engaged with India and Pakistan, offering its assistance and expressing strong concern about their resolving the issues. But, he said, neither the five Permanent Members of the Security Council nor the U.S. had any desire to mediate the Kashmir dispute. Mr. Inderfurth said Mr. Clinton's proposed visit to India and Pakistan now depended on the action they took on various demands put forth By Washington, including unconditional adherence to the Comprehensive Test Ban Treaty..."
Ram |
