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Strategies & Market Trends : Waiting for the big Kahuna

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To: HairBall who wrote (34124)	11/21/1998 11:03:00 PM
From: Haim R. Branisteanu	Read Replies (2) of 94695

LG, those are old news, and there is an interesting article in this week BW page 63. The reason you do not hear about it is the Democratic spin doctors do not want you to know. Also there is an article about China overcapacity in cars and high tech on page 56. Very bad news and this connected with this statement brings the message home Chinese premier pledges not to devalue country's currency Copyright © 1998 Nando Media Copyright © 1998 The Associated Press BEIJING (November 21, 1998 7:51 p.m. EST nandotimes.com) -- China's premier has pledged not to devalue the country's currency. On Friday night, for the first time, he said that promise will extend through 1999. The announcement might calm foreign investors and neighboring nations, which fear devaluing the Chinese yuan would weaken currencies in Southeast Asia and worsen the region's economic crisis. Premier Zhu Rongji told a group of Canadian businessmen that the government will be able to keep the yuan stable during the next year. The premier also said China's target of 8 percent growth this year can be achieved and that the economy was likely to grow at a comparable pace next year. Over the course of this year, speculators have questioned Beijing's resolve to keep the yuan stable, particularly when the Japanese yen was quickly losing value and China's exports were sliding. Zhu said that the Asian financial crisis, which has battered currency values and weakened regional demand, will be hard on China, too. Exports have slowed sharply this year and are not expected to recover any time soon. But A.G and Rubin want you not to worry and be happy <ggg> and re-elect the right guys. My take on all of this Prechter may be right and it is frightening!! BWDIK Haim

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