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

To: Jyoti sharma who wrote (599)	1/8/1998 7:15:00 PM
From: Stitch	Read Replies (1) \| Respond to of 9980

Jyoti, Thank you for your kind remarks but I will confess to you that I am far from expert in understanding Malaysia or Asia in general. I am culturally steeped in Southwestern U.S. farming and Presbyterian upbringing which is very removed from Eastern thought and practice. But fortunately I was also taught it is better to keep ears and eyes open rather then the mouth. I am trying to learn. In fact, one of the true delights in my life have been the circumstances that brought me here and have given me this chance to accelerate learning so late in my career.I do not share Sankar's insular view. I believe that Western investment in SE Asia is good for the region, its people, and the world. But I also believe restraint and patience (neither of which are attributes we Americans are noted for) are policys that would do all concerned more good then harm. I do agree with Sankar that IMF policy needs modification. I believe the IMF will do that, especially with the accelerated pressure (which Sankar alludes to) from the World Bank. But I also believe that ultimately Asian countries must inexorably move towards less corruptive practice and more transparency. Insofar as a crystle ball is concerned I will simply comment that I am long term optimistic about the region's economies. There is simply too much pent up demand, and industrious people with a vision, and a taste of success, for there not be a recovery. I am fearful of political upheavel as the potential "loose cannon on deck". There are stories in the local Malaysian papers about military readiness in Indonesia. This would be a very sad turn of events, and very counter productive. Barring civil unrest, and given a willingness on the part of the Asian countries affected to take the difficult steps towards revaluation, which will incur much sacrifice, then I believe a recovery could be seen on the radar screens by the end of this year. This allows all of us plenty of time to shop for value in the region, which I am convinced lies waiting to be rediscovered. Best, Stitch