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Pastimes : The Naked Truth - Big Kahuna a Myth
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To: Defrocked who wrote (2428)6/19/1998 4:58:00 PM
From: Joseph G.  Read Replies (1) of 86076
 
<<But China is also sure to encounter serious setbacks as it races headlong into the future. One huge problem it faces is its Asian neighbors--who compete with it in world markets and whose currencies and cost structures have recently dropped by 50 to 80 percent. I predict that this new competitive pressure will produce some kind of turmoil in China. Whether it will be a currency devaluation or political upheaval, I can't say. What I do know is that history shows that nations undergoing such wrenching change rarely do so smoothly. Problems are inevitable, and the next big problem in China is going to be my buy signal. When I see on the front page of a respectable Western newspaper that there is turmoil in China, that's when I'll start buying Asia again. By then, Asian markets should be below even the low levels they're at now. This should be the true bottom.>>

Emphasis added.
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