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Strategies & Market Trends : Roger's 1998 Short Picks
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To: HiSpeed who wrote (13426)9/2/1998 4:45:00 PM
From: Timothy Liu  Read Replies (1) of 18691
 
You missing a point. When everything fails, Chinese government will use 'government control'. Think about it, currency of other SE asia countries have plummet 30%-70% but RMB is steady. This is because RMB is not publicly traded, people in China can't change their RMB into Dollar or other currency. They have live with it for a long time and they are use to it. There RMB to them is still as good as usual. Foreign companies in China needs RMB that they made on the Chinese market so there is no selling pressure.

Stock market if it get ugly will have the same fate. Basically there will be control of who can trade or what can be traded, effectively give the government the final saying. They have used this a couple of time before, like 'no new IPO' or 'no day trade' to push the stock market.

Tim
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