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Technology Stocks : C-Cube -- Ignore unavailable to you. Want to Upgrade?

To: Rishi Gupta who wrote (43329)	7/25/1999 9:04:00 AM
From: whitephosphorus	Respond to of 50808

China- How significant is this for CUBE? By MARK LANDLER EIJING -- China's top leaders fled the stifling heat of Beijing last week for their annual retreat at a seaside resort, leaving behind a city swirling with propaganda about the crackdown on a spiritual movement known as Falun Gong. But while the Communist Party has mounted a relentless media assault on the group, which it outlawed on Thursday, economics rather than politics are likely to occupy the leaders as they gather in the tranquil resort of Beidaihe. Specifically, analysts here say they will have to confront China's economy, which is sputtering, and a reform effort that is in danger of stalling. "The attack on Falun Gong comes at a time when they have so much more to worry about," a party functionary in Beijing said. "We should be concerned about developing the economy. There's a risk that this will distract everyone's attention." In particular, Beijing must figure out how to rebuild the confidence of battered Chinese consumers. For 21 consecutive months, consumer prices in China have fallen. That is because, in economic terms, China is in a deflationary spiral, which means that consumers who are worried about their futures have stopped buying things.