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To: Dwight E. Karlsen who wrote (12159)	12/28/1997 8:08:00 PM
From: ed	Read Replies (2) \| Respond to of 97611

What if there is no such so called currency crisis happen in Asia in the past ouple of months? Life will just be the same and business as usual. The long term gain can't sustain the short term debt, this is the only problem for Korea, other than that , the economy is sound in Korea, nothing is wrong. Just like you borrowed $300K from the bank to run business, and the business is good. The problem is the money you borrowed will be due in three years, but the business you operated can not generate 300K in three years to pay off the debt. So your option is either default the payment or make another loan to pay off the old loan, and the business you operated going on untill 10 years later you accumulate enough capital from your business to pay off the loan. That is it, nothing else. The moody just downgrade Korea's credit so that it makes it hard for Korea to borrow a new loan to continue its busineee, so it just put fuel on fire, that is the real fact and what is happening. They want to kill Korea. As to coruption , banking system, those thing exited for a long time in Korea, and it also existed in every country, not just Korea alone. So, the options for Korea are 1) Make anothern new loan to pay off the old loan, and continue the business and economic development, life back to normal. 2) default the loan payment, and completely shut off the market from outside, and may creat a regional market with more than 3.2 billion population which include countries like: India, China, Russia, Philipines, Indonisia, Malasia,Japan, Korea, Singapore, Vietname, Australia, Newzeland, Thailand, .... etc. I guess this option is seriously under consideration. This is a market covered more than 60% of the world populations and buying power is continuously improving. Japan's problem is completely different than that of Korea, i.e not a foreign debt problem, but a problem of aging population which makes the domestic market did not grow.And the companies borrowed too much capitals from the bank, it is a domestic issue, and can be resolved by Japanese government alone if Japan want to correct it .