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Politics : Idea Of The Day
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To: chartseer who wrote (24826)4/1/1999 9:29:00 AM
From: IQBAL LATIF  Read Replies (1) of 50167
 
Chartseer, One great example of changes in ASEA is that short term obligations as a percentage of long term reserves are now 30% of what they were when the crisis ensued, any crisis which erupts on to a global scale has one clear villian, that is the 'percentage of short term indebtedness to its reserves, the melt down in currencies is not possible and the double play is now very difficult, moreover the economies are not anymore dependent on inflows of hot money those flows have been sterlised.

Yes I see his point of view on <<commodity prices do not
support the theory that Asia is recovering>> but the fact remains that it was private sector which overleveraged and ended up with huge overcapacity, the multinational fianacial institutions were looking at the countries balance sheet but failed to look at the huge borrowings of the private sector which is still reeling under huge foreign debt, the demand of the sort which we have seen in pre-crisis days is practically over, it will take some years before new infrastructure investments are made right now they are trying to see that their exports pick up and locked up factories may start humming again, the huge non-performing bank portfolio's are now re-structured, commodity prices will only pick when growth picks up right now it is just a very healthy recovery..
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