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To: j rector who wrote (257)	11/21/1997 10:53:00 AM
From: Steven Yang	Respond to of 1418

>>I think that any country that undergoes significant inflation like China must face up to currency devaluation at some point. I believe that the only way the Yuan can go for the next five years relative to the dollar is down. << j rector, I would agree with you, generally. On the other hand, the Yuan/Dollar exchange rate did not start from the _equlibrium_ point. The current reality is that a family of four with $400 monthly income in Shanghai lives a lot better than a family of four with $1000 monthly income in New York City. Steven