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To: Victor Lazlo who wrote (151581)	1/19/2003 12:20:15 PM
From: GST	Respond to of 164684

"Consumer spending in China is so low it's nearing crisis levels". I am not sure what you base this statement on... I have not seen any evidence of that. What I do see is a country that has an undervalued currency. On a purchasing power parity basis (what the money can buy), the RMD should be three times what it is pegged at in relation to the US dollar. Does China have problems? Sure, huge problems. Is China a perfect place? Of course not, plenty of things are profoundly messed up. Can China have scandalous surprises? Tons of them, no question. But the bottom line my friend is that China has/is undergoing changes that most people in the United States cannot even begin to imagine and the US has issues that few people seem to take seriously.