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

To: Michael Berkel who wrote (414)	1/4/1998 9:33:00 AM
From: tekgk	Read Replies (1) \| Respond to of 9980

It was the devaluation of the Yuan that started the current round of devaluations. It wasn't actually the only factor, but I feel that it was a primary factor. The pain from the first round was substantial. The pain from another round could be even more painful for countries already in a weakened condition. About two weeks ago China lowered over night rates from just under 9% to just over 1% then suddenly reversed course a few days later. I thought that this was the first shoe to drop, but I guess that I just don't know enough about the banking system over there. If anyone understands what the interest rate manipulation was all about, I would sure love to hear from you.