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Strategies & Market Trends : Asia Forum

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To: RagTimeBand who wrote (6656)	9/24/1998 1:34:00 PM
From: Henry Volquardsen	Read Replies (3) of 9980

Hi Emory, I'm not an expert on Y2K so I don't know all the potential impacts. I know my firm has tested all it's systems and we are ok. I have heard anecdotely from a number of people in the financial services industry and everyone appears to have taken it pretty seriously. From what I have gathered from the people that I have spoken to about this is that on software applications most institutions that spend the money will be ready. The question comes with emerging markets and government who generally don't have the money. I don't know what the impact from those will be (Hell it may even help the economy if the IRS computers blow up <g>) The one area of concern is embedded chips, particularly in the utility industry. It is a problem there but they are aware of it and working hard to address it. But overall I am not factoring in anything for the Y2K situation since I don't have the faintest idea what the impact will be. My educated guess is it will have an impact but not major (less than 1/2% on GDP). I know one person who actually believes it will boost the economy as corporations go on a spending spree buying compliant technology to eplace existing systems. Henry

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