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Technology Stocks : MyWeb Inc.com (MYWB) -- Ignore unavailable to you. Want to Upgrade?

To: jjs64 who wrote (63)	11/23/1999 5:48:00 AM
From: Peter Y. Hsing	Respond to of 70

<yawn> These are "typical" western views--ignorant. Not to say that every westerner shares these views, but most are totally absorbed in their own world and are greatly influenced by what the western media feeds them. Would you not visit Singapore (a beautiful place) because it is run as a dictatorship? Here in Hong Kong, we didn't get to directly elect the Chief Executive of this Special Administrative Region ("SAR") of China, yet Hong Kong would probably be one of the first places you'd visit in Asia. It will take many years to change China's ways, but it will happen and progress has been encouraging thus far. You can't expect such a drastic transformation to occur overnight--it must be far more gradual and measured. There are significant, new issues to deal with each step of the way and the Chinese must figure out how to deal with each on their own terms. Evolutionary, not revolutionary. Similarly, the economic prosperity of the nation will increase over time as well. Dismiss the China market now and you may be conceding time-to-market and key relationships to a competitor and remain a distant second place player...forever. This is exactly what the "Internet" companies are doing right now in the U.S. and elsewhere with their incredible marketing/advertising burn rates--solidifying their presence--and investors have bought in in a big way. Similarly, companies doing business in China are positioning themselves for the future market opportunity. I'll be willing to bet that if you ask all of the Fortune 500 CEOs the single most important country market in the 21st century, you'd get nearly 500 identical responses of "China." What do you know that they don't? What do you know that Microsoft, Pacific Convergence, and MyWeb, et al. don't? How about Disney and the theme park they're building in Hong Kong? It's not for the rest of Asia--it's for China. How about all the wireless and fixed line telecom/data networking equipment mfgs like Nokia, Ericsson, Motorola, Nortel, and Cisco (and others) stepping over one another to do business in China? It's not in the name of philanthropy--there's serious money to be made. Based on estimates using Purchasing Power Parity, the nation-wide "average" Chinese family has the same annual spending power as a family in the U.S. earning US$40,000-45,000. Is China so "poor" now? You probably haven't taken any B-school classes or haven't had much work experience in the strategy or marketing areas. To look at China as one homogenous market is foolish. Best of luck in your studies and in your endeavors. NB: I have no comment on MWYB.