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To: long-gone who wrote (75305)	8/20/2001 12:11:55 AM
From: Ahda	Read Replies (1) \| Respond to of 116762

feer.com THE BANK of Japan announced it was easing monetary policy to flood the banking system with cash to fight deflation and jump-start demand. The surprise decision involves pumping money into the banking system by making it easier for banks to lend and printing more money to buy government bonds. But the bank has already put so much money into the economy that overnight interest rates are virtually zero. Taiwan Lin, the confederation's deputy secretary-general, says it is inevitable that companies will seek lower labour costs and shift factories to China in the same way that Hong Kong's industry left in the 1980s and early 1990s. As the island's economy adjusts, all he and other union leaders can do is urge the government to build a safety net, particularly for older workers. "It is not unusual for a company to shut down and lay off workers without warning," he says. "Now is the time in Taiwan when we should have a social welfare network."