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To: jim kelley who wrote (134065)	6/23/1999 12:00:00 PM
From: Mohan Marette	Read Replies (1) \| Respond to of 176387

<-OT->Economic boom to continue for at least 20 years/Asians line up at Arianespace. Jim: Looks like Asian recovery is on track judging from the number of satellites from Asian countries lined up at ArianeSpace for launch this year.According to the company the the satellite launch orders are piling up from Aisa and the bulk of the launches this year will be on behalf of the Asians signaling solid economic recovery and due to explosion of the internet in these countries.All of them are communications satellites,the company also said last couple of years have been 'slim pickin's' as far as business from Asia was concerned,quite a turn around indeed. Now if that is not enough,here is what our man in Dallas has to say about the U.S economic boom. =================================== Dallas Fed economist sees continued U.S. growth DALLAS, June 22 (Reuters) - The U.S. economic boom is likely to continue for at least 20 years, powered by the information revolution, the chief economist of the Federal Reserve Bank of Dallas said on Wednesday. W. Michael Cox predicted that what he called the ''new American economic golden age'' would continue at least to 2020, driven by a transformation in industry and business ushered in by the microchip and technology based on it. ''We are in the midst of a technology revolution that is making the world tomorrow as different from the world today as was the world after electricity different from the world before it,'' Cox told a meeting at the National Center for Policy Analysis, a Dallas-based think-tank. Cox, who co-authored a book ''Myths of Rich and Poor'' trumpeting the same message, dismissed arguments by some economists that the low-inflation, high-employment boom since 1991 is an anomaly bound to stumble soon. ''Not only will the good times last, they'll get even better. This is no bubble economy,'' he said. Cox said the advent of the microprocessor in the 1970s and its introduction in a growing range of products since then, from cell phones to microwave ovens, is driving a wave of innovation and growth similar to the start of the 20th century. ''Over the 20 years from 1895 to 1915, America got the automobile, the airplane, the telephone, the radio and refrigeration,'' he said. All those innovations started off as curiosities but later turned into major industries, creating jobs and wealth, he said. Cox said several waves of innovation had proceeded from the first microprocessors in hand-held calculators in the early 1970s, leading to new business in areas such as cell phones, personal computers and the Internet. ''Each new industry will take decades if not a century to work through, to completely grow, yet many more avenues are already opening for microprocessor use,'' he said. Two examples Cox cited were biotechnology, where the application of computer power to analyze human genes may allow researchers to develop new medical treatments, and nanotechnology, or building micro-sized tools and machines incorporating artificial intelligence.