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Strategies & Market Trends : Asia Forum -- Ignore unavailable to you. Want to Upgrade?

To: RealMuLan who wrote (235)12/29/1997 12:48:00 PM
From: Jack Clarke  Read Replies (3) | Respond to of 9980
 
Yiwu Zhang:

Japan Vs Korea and debt: An important difference which seems obvious, but which I had not actually thought out. I see now that Japan not only does not owe anybody money, everybody else (especially the US) owes them money.

Don't you think our leaders, (Rubin) have made an "under the table" deal with Japan, so that they will not dump our bonds? Perhaps some sort of trade or currency consession? Many thanks.

Jack



To: RealMuLan who wrote (235)12/29/1997 10:02:00 PM
From: P.T.Burnem  Respond to of 9980
 
Japan is the single largest creditor of the USA, and if they have to sell the US treasury bonds to solve their own financial trouble, then it is the US stock/bond market who will suffer.

Selling Treasury's would a) drive the yen/US$ exchange rate higher and b) slow the US economic growth. As a result, Japanese exporters would be hit real hard.

PTB



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