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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 159.42

-1.2%

Jan 16 3:59 PM EST

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To: Ramsey Su who wrote (14381)	9/1/1998 5:57:00 PM
From: dougjn	Read Replies (2) of 152472

Shhesh, Ramsey. That former Japanese legislator struck me as a looney. Conspiracy theories. All the US's fault. None of it Japan's. No mention of the role of the absurdly overvalued Japanese property and market values that precipitated their years of stagnation. No mention of the related widespread insolvency in the Japanese banking system. And similar conditions in the other East Asian countries he mentions. I will concede that the timing of the financial Big Bang may look bad from Japan's point of view. But it has after all been scheduled for years. He's just crying about the notion of any foreign competition in his home market at all. The place where our advice, at least as publicly announced, has been pretty poor I think has been Russia. We are so concerned with keeping them on the total democracy path that we have under emphasized the need for effective taxation, and the rule of law. Ironically this has created a situation where it is the Communists who are most loudly saying that the true core of Russia's problems are the massive theft that is going on. Which seems very true. My 2 cents. Doug

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