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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Joss who wrote (24839)	12/3/1997 2:58:00 PM
From: Mike M2	Read Replies (1) \| Respond to of 132070

Steve, yes it is a good point that the duration and severity varied greatly among the economies of the world. On the second point, yes companies can take steps to mitigate the adverse effects of devaluation to some extent but workers cannot. As jobs move to low wage countries the buying power of those workers is so diluted on a per capita basis that in the long run the companies will suffer. These countries also protect their mkts more so than the U.S.. Mike