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To: pat mudge who wrote (2738)	1/8/1998 2:45:00 AM
From: Angela	Read Replies (1) \| Respond to of 6180

That editorial was right on the money. I know it must be hard for Asian countries to have western countries tell them they've been doing it wrong. Culturally -- it's a sticky situation. But at least President Kim seems more open to outside reforms and direction. The one lasting memory I have of S. Korea's outgoing President is when he blamed the Won's nosedive on Soros. The editorial you posted fit in perfectly with today's news. You probably heard about the Indonesian government today releasing a budget with 25% increased spending. This after they had promised the IMF increased austerity measures. (The IMF recently bailed out Indonesia.) In reaction, the IMF said the next payment to Indonesia is frozen until we talk to them about their budget. My gut reaction was -- Indonesia must be trying to spend their way out of the crisis. It's going to take a lot of negotiation and diplomacy to push reforms in Asia. But it worries me to see countries treating the IMF like it's a money tree. It also worries me to hear people talk about the IMF as if it were some faceless beauracracy. The IMF is us -- US, Canada, Britian, Germany, France, etc. -- all of the industrialized nations with a healthy GDP. If the IMF doesn't hang tough, then they could be in trouble and then there won't be anymore bailouts. As it is right now, some of the IMF contributing countries are not very happy about about their share of the current bailout. I read about that in The Electronic Telegraph -- London -- but you don't seem to hear about that side in the US Papers. Well -- here's hoping that the IMF will hang tough and S. Korea (and the global economy)will be that much stronger 5 years from now -- so they can keep buying lots of cell phones with TI DSP chips in them! And ADSL modems and networking equipment and TV's with DSP, and DLP projectors. . . Happy investing, Angela