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Technology Stocks : Cymer (CYMI) -- Ignore unavailable to you. Want to Upgrade?

To: Zeev Hed who wrote (11723)	12/20/1997 8:17:00 PM
From: John Chalker	Respond to of 25960

Zeev, I don't have numbers on exports for Korea but I would note the following. The risk here is default risk, that's based upon inability to pay, and that's based upon cash flow. I really don't care if they are underwater on asset/liability statement; I wouldn't want their assets if I was a bank, even if they covered my loan. I want interest payments, that's my business. Regarding exports, a lot of their stuff comes to US. If they export to rest of Asia, it's neither a gain/loss because of currency adjustments. This is where the export data would be interesting to study. And I agree with you about Japan, but I wonder what their export number was to Japan anyway? I don't recall seeing any Korean products there, certainly no cars or consumer electronic products. BTW, they were running a deficit in both current accounts and trade balance for 1997. This position helps them in recovery. A drop in imports will aid both both numbers. Chalks