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To: Richard Makowiec who wrote (2499)	1/11/1998 11:26:00 PM
From: Michael Kim	Respond to of 2601

Yeah, Rich, I had to wait an hour to get my last post through. Re: Reforms. I think that the Chinese gov't is just as shocked by the worldwide turmoil being created by HK. I agree that a lot of the smart money has left, but Asian cultures are still highly nationalistic, so many people certainly stayed put (or were even bullish on HK's Chinese-ruled prospects), so there will be plenty more coming out. Could we see the Hang at 5000? If the Chinese implement "reforms", that will tank HK for good, so I can't see them doing that. But since they are still new to capitalism, they don't have the experience to properly handle this situation. I think that we'll see some type of multi-national agency step in here (World Bank?, IMF?) and like I said, jokingly at first, top int'l consulting firms and investment banking houses should be able to make pretty good fees off of all this chaos. In effect, China will have to go to B-school. I just hope that we can all make it through this mess. MK