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Strategies & Market Trends : HONG KONG -- Ignore unavailable to you. Want to Upgrade?

To: Tom who wrote (862)	11/13/1997 12:58:00 AM
From: ----------	Read Replies (2) \| Respond to of 2951

Tom: This may take a while to work itself out. The I.M.F. President is heading over to Asia for a round of meetings. I've read a BUNCH on rates, jitters, currency, etc. . Most of it is on DJ news retrieval & Reuters. I'll try to figure out a way to copy & post w/o getting sued. <g> IMO, we are seeing the beginning of "the changing of the guard." Any idea what the total U.S. net trade deficit is? (e.g. how many U.S. dollars are in foreign hands vs how much foreign currency is in U.S. hands.) It would seem the world has been sucked into the same Catch-22 that U.S. citizens have..... NOBODY can afford to say the U.S. dollar isn't worth much, we all have way too many of them to be able to afford to admit it. We agree China will be the dominant economic power in the next century. They are not going to get sucked into the same stupid game. HK's REAL GNP growth is greater than ours, they have a net surplus foreign currency balance, China has GOD knows how many times the natural resources of coal, strategic metals & oil that the U.S. does. And, neither HK nor China has so many U.S. dollars that it makes good accounting sense to devalue their currency to keep the amount of ours they hold valuable. Bottom line.... they ain't gonna devalue. You can't greenmail a country that isn't up to their necks in greenbacks. Doug