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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 163.32

+2.3%

Nov 21 9:30 AM EST

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To: Ramsey Su who wrote (18871)	11/28/1998 10:14:00 PM
From: lkj	Read Replies (3) of 152472

Hi Ramsey, I was in Southern China a couple of weeks ago. The economy was definitely not very well, but I don't think that China is doing that much worse than a year ago. I visited a couple of privately held companies in Southern China; they were very well ran, and were doing okay. Most people I talked to seem to be confident of both the Chinese economy and the government. Though mass layoffs are happening in government ran corporations, but this has been the case for a few years. For 1998, China will reach 8% GDP growth. And Zhu is enforcing good rules. Overall, I felt better about China this time than my Apr/May stay. But for long term growth, China still has a lot of problems such as corruption and PLA, which you talked about before. But with respect to the US stock market, I think that the rally has been irrational. If this market holds up, I will start selling once 1999 rolls over. Tax reasons keep me from selling for right now. Khan

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