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Strategies & Market Trends : Asia Forum

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To: Lee who wrote (5098)7/8/1998 7:59:00 PM
From: Stitch  Read Replies (3) of 9980
 
Lee,Thread

It may be my imagination but there seems to be a movement here in Asia to climb out of the denial stage. In today's WSJ there are two stories. One is a story quoting Anwar here in Malaysia admitting that the GDP estimates will have to revised again and the other is a story quoting PM Goh of Singapore saying that Singapore would likely experience a mild recession next year. The news in Asia continues to be bad. All eyes remain on Japan, where, for more then a week, they have tossed around the term "permanent" in vague, none illucidating ways. Japan is not changing much. There are so many internecine forces at work there that I think they are still bogged down in a standstill, "frozen in the headlights" mode. There are no heroes in Japan. Only apparatchiks. I don't expect elections there to result in any new enlightened leadership.

By the way...just as an aside. Fairy tale metaphors are fine. But I believe it was Rapunzel that "let down her hair" rather then Goldilocks. Unless Goldilocks has grown up a bit since I was a kid. <G>

best,
Stitch
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