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Strategies & Market Trends : World Outlook -- Ignore unavailable to you. Want to Upgrade?

To: Les H who wrote (1030)	11/11/2002 12:38:16 AM
From: TobagoJack	Respond to of 48817

Hello Les, <<Without drastic action, public confidence could collapse and spark a full-blown crisis>> Far Eastern Economic Review (FEER) must be talking about another China, one that I do not travel to on a weekly basis, because I have not met any C-level domestic corporate person or taxi driver or anybody else who is concerned about the safety of their bank deposit. Either FEER is carrying on an agenda that is their usual (China collapsing) or vast majority of the 1.3 billion Chinese do not have a clue about where their money is. I read alternative views often so as to not be side-swiped, especially these days as I have been increasing my allocation to China shares. I am as curious as the next person to find out the answer. A friend did participate in work on DDing a large Chinese state-owned insurance company as part of a project a few years ago and got to see its books, and were satisfied that the insurer was technically insolvent. The company's response at the time was 'so what else is new?'. Now, they are readying to list and part of their shares are placed with an international party. The technical insolvency condition has been erased. All is well until management messes up again, like everywhere in the world. I thought the claim that China's NPL was three times as bad as Japan's was funny, because if true, then China should be at least half as rich as Japan on per capita basis:0) Chugs, Jay