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To: John Carragher who wrote (80269)	9/13/2000 10:48:31 PM
From: cfoe	Respond to of 152472

...Unicom, which recently listed shares in New York and Hong Kong,... The article seems to be implying that because Unicom already did a public offering and because of the debt there will not be enough money to finance rollout CDMA. Correct me if I am wrong, but wasn't the public offering referred to by the Asia WSJ done by Unicom's GSM subsidiary, not the parent which will be building out the CDMA network? could the Asia WSJ get something wrong? Anyway, while there may be debt in Unicom - CDMA, a separate public offering by a CDMA subsidiary is not out of the realm of possibility. At least investors in a CMA subsidiary will be investing in the wireless technology of the future.

To: John Carragher who wrote (80269)	9/13/2000 10:57:48 PM
From: Richard M. Jimmink	Respond to of 152472

Eugene, I find rather sad, when any major news media ( WSJ )uses economic numbers from Chinese sources. I make these comments, after many years of tracking the Soviet Union's make believe value of the ruble. The United States Government sources would compare the Soviet Military Expenditures, as they would the United States. It took five years to demonstrate, by specifics, the numbers could not validated with any value, as they were not hard currency. On a trip down the Volga in 1990, an American CEO ask his Soviet counterpart how he priced his product. The Soviet responded, they asked GOD. As typical of an ugly American business man, you Soviets are stupid. Only the USSR business operations, interfacing with those countries or companies outside of the Soviet Union, where hard cash was essential, could one measure the value of any transaction. In a Communist country, each plant manager ( regardless of industry ) had a operating budget for ( employees ). A system of requisitions for raw materials and equipment needed for plant production, plus a hard cash budget for purchasing major material acquisitions outside of the Soviet Union. How could the Wall Street Journal, put a face on an Chinese Army debt occurred within the Bamboo Curtain. Only when transaction, involving foreign currency, hard cash, does anyone of else have a feel for Chinese debt. Any business decision made today and information released today, can be instantly changed. You have seen this occur over the past 30 days. Been in both the Soviet Union and China, too many years to be convinced this information was done after DD. Those trips were not vacations. RMJ