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Technology Stocks : China.com Corp-(CHINA) -- Ignore unavailable to you. Want to Upgrade?

To: red_dog who wrote (237)	7/14/1999 2:26:00 AM
From: KeepItSimple	Read Replies (2) \| Respond to of 504

Mr Yen blows through lest the bubble burst Asia-Pacific, By Peter Hartcher It was confirmed during the week that one of the world's top finance officials, Japan's Eisuke Sakakibara - known as Mr Yen - is about to retire from his job as the country's main international negotiator. But why? He told an acquaintance that he decided not to press for another year in the post because he expected that Wall Street would crash during that time, and he did not want to be around to try to deal with the consequences for Japan. It was Sakakibara who first conceived the brilliant nickname for the US economy - bubble.com. The US is vulnerable, he says, to the possibility that the internet-led stockmarket bubble will burst with awful consequences. It would not only drag down the US economy, he fears, but jeopardise the entire system of global capitalism. It is quite extraordinary, of course, that the vice-minister for international affairs at Japan's Ministry of Finance should utter such thoughts aloud. Apocalyptic pronouncements from a responsible official are potentially destabilising. And the Americans, Sakakibara's closest and most important allies, hate it. But his warning does serve as a sobering reminder of the awesome challenge that the US faces.