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Strategies & Market Trends : Asia Forum
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To: the Druid who wrote (6011)8/30/1998 1:03:00 PM
From: Ron Bower  Read Replies (1) of 9980
 
Druid,

Does the exact amount of China's foreign exchange reserves really matter? World currency values are no longer based on the assets backing the currency. The Rmb is worth what China says it's worth. China is more able than any other country to determine their own success or failure as the structure of their economy makes them more immune to outside influence.

Are we getting accurate numbers from anywhere, including the US? Obviously Japan has been hiding, distorting, or actually falsifying the numbers. The numbers in Russia have obviously been wrong. All of the various countries are tryng to look as good as possible to keep consumer and VOTER confidence high. China has less reason than most to distort the numbers. If they lie, they lie to themselves.

JMHO,
Ron
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