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To: Glenn D. Rudolph who wrote (12195)	12/13/1997 9:44:00 AM
From: PeterR1700	Respond to of 45548

Glenn - OFF TOPIC <<Pain is an understatement.>> In reviewing my activity for the last year, I had to look at all my silly decisions in the eye. Lost beaucoup. Thank god for Mister Softee, actually kept me in the black. That along with SUNW and a few others. We shall overcome. Peter

To: Glenn D. Rudolph who wrote (12195)	12/14/1997 1:37:00 PM
From: Thomas Haegin	Read Replies (1) \| Respond to of 45548

Re. Article on OECD Asian outlook Reposting this for information to all. Got it through my suscription to NewsAlert. I have no idea what this embargo stuff is all about, though. Thomas -------Start---------------- OECD: ASIA COULD CUT WORLD GROWTH 1 PERCENTAGE POINT Futures World News - December 14, 1997 12:23 Washington-Dec. 14-FWN--ASIA'S ECONOMIC AND financial woes could reduce growth in the world's major developed economies by up to one percentage point next year, according to a breached-embargo release of the OECD. Britain's Sunday Times today reports that the Organization for Economic Cooperation and Development (OECD) was set to predict that Japan would be especially hard hit, with growth that had been expected at around 3% falling to only half that. The OECD has since agreed to early release of its overview report, following breach of the publication embargo by a news organization. Individual country reports and tables remain embargoed. The report, intended for publication on Dec. 17, said the Asian crisis was hurting Asia, but the outlook remained bright for the United States and Europe. The Paris-based OECD, which groups the world's developed countries, has 29 country members. Highlights of the overview report, based on information gathered until mid-November, include: -- OECD COUNTRIES: Despite a 2.9% growth prediction for the entire OECD, the report said the OECD carried out a simulation which showed the Asian financial crisis could shave close to one percentage point off GDP in 1998. The OECD estimated the potential GDP loss would be far bigger in Japan and other countries with greater trade ties in southeast Asia than on the U.S. or EU. While the Asian contagion could knock 1.4 percentage points off Japanese growth in 1998, the simulation exercise revealed U.S. growth affected by 0.7 points and the EU down by 0.8 points. -- JAPAN: Gross domestic product would likely grow by just 1.7% in 1998, down from a previous OECD forecast of 2.9% six months ago; Japan's 1997 growth forecast was cut to around 0.5%, considerably below a 2.3% prediction last June. -- SOUTH KOREA: The OECD admitted things were happening so fast that its forecasts for this country were no longer reliable. South Korea is the most recent country to join the OECD. -- UNITED STATES: The OECD predicts a 2.7% growth in 1998. While the OECD says unemployment could start an upward creep as the pace of U.S. economic expansion eases, the group adds this would only lead to a "mild reversal." -- EUROPEAN UNION: Growth forecast at 2.8% in each of the next two years; Germany should see a rise of 3.0% in GDP next year, France a rise of 2.9%, Italy 2.1% and Britain 2.2%. ----End--------