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To: Sarmad Y. Hermiz who wrote (113713)	12/30/2000 4:53:03 PM
From: Victor Lazlo	Respond to of 164684

<<I'm very skeptical of that. Especially since oil price was so high all year. Why would China stock-pile at high prices, then refrain at low prices. >> To buy in quantity they would likely have to enter into some foward term contracts. They may have been accumulating this year at prices somewhat lower than we're seeing now. <<Besides, now that China seems to have abandoned stupid marxist economic policies, they will probably have strong economic growth for at least 20 years. Which means increased energy use. Then there is India ramping up.>> China's coastal provinces, where the boom is, are dependent on exports. I think they'll be hurt a lot by the slowdown in the US. (S. Korea has already been hurting bad for a while now.) Of course the majority of mainland Chinese are still peasant farmers and are very poor. This is why I used to laugh so hard when I saw of few of those brand new ISP penny stock co's making claims about 5 billion chinese just waiting to sign up for their wireless digital internet services. What would they use it for and who would pay the bill?