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Strategies & Market Trends : HONG KONG
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To: Tom who wrote (2091)8/13/1998 2:51:00 PM
From: Beiming Wang  Read Replies (1) of 2951
 
Free markets come to an end. Tom: Since the end of the cold war, a lot new productive forces are in the market. I see a worldwide glut of production capability. The boom in the US is only temporary. Very soon we are going to see the cut throat competition worldwide. The economies in Asia have not been managed that poorly. The crises can only be described as a typical unbalance between supply and demand. The world lost its equilibrium. There is a good chance in the next years that the US will reverse its balance budget doctrine and re-study the Keynesian theory. At the critical moment, it is still the major governments who can provide an artificial aggregate demand increase. The supply side theory and balanced budget theory will run out of their course. What we see here in Asia is a classic traditional economic crisis-oversupply. It is spreading over the world. One solution is to wait it out which could take ten years. The other one is for governments start to use deficit spending again in a substantial manner.

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