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Strategies & Market Trends : HONG KONG
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To: Tom who wrote (2043)8/10/1998 4:48:00 AM
From: tom  Read Replies (1) of 2951
 
Goldman Sachs have revised down their 1998 China GDP forecast to 7.6% from 8.2%.

Clearly, this is a little late in the day for such downgrades but Goldmans has at least two reasons why it will never be too negative about China. One, because it plans to earn a huge amount of money in corporate finance there over the next few years (it led the China Telecom issue last year) and two because their economist, Fred Hu, is very close the Zhu (almost an adviser if you believe Goldmans).
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