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To: Lee who wrote (25074)	12/14/1997 11:25:00 AM
From: Mohan Marette	Read Replies (1) \| Respond to of 176387

<From this article, it looks like they are sitting pretty in China.> Lee:Thank you Lee for this apparently good news about China et al. One of the greatest news I have heard coming out of China is about the their initiatives with regards to the Privatization of Public companies owned by the government.This is going to be a painful affair which will result in massive lay offs,plant closing and the like, but once this is done it will be thing of 'beauty' to behold and would go a long way in their efforts in making China a BEHEMOTH market economy. Having said that there still remains a problem of herculian proportions,namely the the banking industry as many are insolvent and could not function without massive infusion of funds from the government. The sooner they tackle this problem the better for otherwise this is going to be a disaster waiting to happen. The Korean and Thai financial meltdown will look like pocket change, if this is allowed to happen! Remember you heard it here first. PS:Another country whose banking system which needs a similar overhaul is India, but to a lesser extent. Hope they wise up soon as well,if not these two countries are going to be the next victims.