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Strategies & Market Trends : Asia Forum
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To: gmccon who wrote (5452)8/12/1998 12:28:00 AM
From: shadowman  Read Replies (1) of 9980
 
Interesting quotes:

The report did not say where or to whom Sakakibara was speaking.

''From here on we will take an aggressive stance on forex issues,'' he was quoted as saying. ''The Japanese government will take an aggressive stance on all policy issues.''

Jiji also quoted him as saying: ''I don't think the dollar/yen rate is the cause of global stock price declines. Each country is grappling with its own problems, so it isn't appropriate to trace the source of all problems back to Japan.''

Sakakibara, noting that Japan is the world's biggest creditor nation, was quoted as saying: ''The Japanese government has sufficient political will and ability to handle all its policy issues.''

The last paragraph is what caught my eye. Japan is the worlds biggest creditor nation..........not an enviable position, when a large percentage of the entities that you've lent to are possibly insolvent?........ Hello?
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