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To: tech101 who wrote (697)	5/24/2000 1:48:00 AM
From: tech101	Respond to of 1056

The Asian and Russian Crisis knocked the world financial market to the knees in 1998. The "irrational Exuberance" (and "De-uberance" now) and Greespan's enthusiasm to put it to a rest might eventually bring the American economy into a recession. However, the Asian economy may come to the rescue to our high tech business and "new economy" this time. *************************** INTEL SEES HUGE GROWTH IN ASIA BY JALIL HAMID Reuters KUALA LUMPUR, Malaysia -- Intel Corp. said Monday it expects Asia, excluding Japan, to be its second-largest market after the Americas by the end of the year. ``I expect Asia to grow faster than any other geography,'' Intel President and Chief Executive Craig Barrett told a news conference in Malaysia's capital. ``I would expect Asia to be a bigger consumer of our product than Japan and Europe by the end of this year.'' The Americas accounted for 43 percent of Intel's revenues of $29.4 billion in 1999, Japan 7 percent to 8 percent, Europe 27 percent to 28 percent and Asia the rest. The Santa Clara-based company posted a revenue of $26.3 billion in 1998. Barrett cited Asia's large population, fast economic growth and government support of the knowledge-based economy as the main reasons behind the projection. ``We are seeing some of the fastest (growing) marketplace this year. The Chinese marketplace has been growing very rapidly, India. . . . We are seeing growth in countries like Thailand and Malaysia, Singapore, (South) Korea, Australia,'' he said. Barrett, who earlier met Prime Minister Mahathir Mohamad and addressed some 800 Malaysian business executives, was on an overnight visit to Malaysia. He is on a five-day Asian tour that will also take him to the Philippines, Hong Kong and India. The Intel chief said he expects an exponential increase in online business in Malaysia and Asia as a whole. He said the business-to-business e-commerce worldwide was expected to grow to $7 trillion in 2004 -- which he called a conservative estimate -- from $400 billion in 2000. The Asian market is expected to account for 14 percent of the market segment, growing at an estimated compounded annual rate of 150 percent through 2004. ``Forecasts show that the business-to-business sales in Asia, excluding Japan, will reach $1 trillion within the next five years,'' he said. He said Asia needs to reduce Internet access costs and improve telecommunication infrastructure and increase the density of personal computers to help boost Internet usage. Barrett shrugged off a suggestion made by a reporter that Intel has captured a sizable Chinese market. ``I'm not sure anyone has captured anything in China. We do very well in China in terms of both recognition of our brand as well as the recognition of our market share. ``We have made a couple of investments in China. The Chinese government is a little bit schizophrenic. One day you are allowed to invest, the next day you are not allowed to invest. ``We try to invest on those days when it is legal and we don't invest on those days when it is not legal,'' he said in jest. Barrett said Intel would invest $100 million to expand its two Malaysian facilities this year and has committed to invest in Malaysia's high-tech zone near the capital. mercurycenter.com