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Politics : Ask Michael Burke

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To: RealMuLan who wrote (48699)	2/24/1999 5:41:00 PM
From: Mike M2	Read Replies (2) of 132070

Yiwu, thanks for your input I agree with respect Chinese values pertaining to education and computers . I also agree that foreign companies will not participate in the growth like the optimists would have us believe. All of Asia looks to the success of the Japanese model for economic growth of closed markets and exports. you also make a good point about disposable income nonetheless I don't see that income providing a middleclass lifestyle by US standards. When i think of US middleclass lifestyle I think of owning a house w/ all the usual appliances, two cars . I don't question the notion that there will continue to be tremendous economic growth in that region and that living standards will improve substantially. However, I do take issue with BGR's implicit suggestion that such growth may upset the bears case presented by Earlie. One other point that you have mentioned and I happen to agree with is the strong cultural propensity for high savings low consumption in Asia . The US bulls hope to turn Asia into a nation of consumers who save little is misplaced. Thanks for your input. Mike

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