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To: Dovi who wrote (6542)	12/16/1997 12:23:00 PM
From: dougjn	Read Replies (1) \| Respond to of 152472

The date when Korea as a whole really realized there was a serious problem was Dec 3, when country first announced IMF bailout. (Its apparently called the day of national disgrace.) Sales from Nov. would not be indicative. Full impacts won't be felt in the real economy until mid 98. (When stock, currency mkts may well be recovering.) The news has been full of stories of Korean popular response being a national resolve to go on an austerity binge. Foreign cars, imported liquor have all become no nos socially, regardless of ability to afford. Ads are being run to showing savers putting coins in piggy banks. Now purportedly all Korean made CDMA cell phones probably don't get hit as squarely as Lexus sales. But hit. Who knows how much??? I bet even Qcom is having trouble estimating (although they could no doubt do a much better possible range of effect than thee or me.) Doug

To: Dovi who wrote (6542)	12/16/1997 8:21:00 PM
From: qdog	Read Replies (1) \| Respond to of 152472

See exchange2000.com

To: Dovi who wrote (6542)	12/18/1997 11:53:00 AM
From: dougjn	Read Replies (1) \| Respond to of 152472

What happened in Nov. is not the issue. Effects of Korean austerity drive should start showing up in Dec. results....although Dec is nearly all "cultural" .... people worried, showing solidarity by saving and not spending (they think), etc. All over the NYT again today. It won't be 'til next quarter that real economy effects start to be felt, and prob. won't peak until at least 3rd Q. (By which time the Korean stock mkt might be rallying.) I.e., people don't get laid off en mass immediately. Companies don't complete slashing expense account policies immediately. Etc. Doug