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

To: Rational who wrote (1083)	1/19/1998 9:02:00 AM
From: Worswick	Read Replies (1) \| Respond to of 9980

I am have not misunderstood either your posts or Yihw's. I understand both your ideas about "Asian values" completely. The reason why I answer is both of you live in America, in a multi-cultural country of tremendous opportunity where the past doesn't determine the future. You were raised in a period in India where boys were sent to schools where they learnt that India was a morally superior Fabian socialist place. A sort of paradise. Your view is that somehow Asians are somehow morally superior to others. The reason I go on about this is that the people in America simply don't know about Indians and Chinese and this xenophobic trait of Asian people. You have a new country here. You have a new chance. Yet, when you are confronted by an idea that you might be a touch off center with your ideas of "Asian values" you have the arrogance to say "I don't care to reply." Well, what I am saying is that you should think about your position here. I don't think I ever had a student say this, let alone a teacher tell me a dialog was unproductive. I gather you are a "professor". Curious. I guess you are right in everything you say. You forgot one of the steps in your scenario of Asian financial debilitation. After the triumph of making two hundred percent on the rupiah short the Nick Leeson type who executed the short goes out and he really bangs the short side for another punt. He gears his Asian currency short, this time on the yen which is going DOWN, ten to one and without his boss knowing. The 26 year old trader puts a five billion dollar short against the YEN with US $500 million of the banks assets. But the yen goes up instead of down. Dear me. The short goes to money heaven. Add another $5 billion to the debt of the, now, very bankrupt Asian bank. The manager of the bank neglects to tell this to the central bank. Since the head of the national bank is his brother-in-law he thinks he'll tell him the bad news in the summer when the weather is better. Sankar, actually, I taught at Harvard where you were a student. At Harvard I was a "cultural" not an "economic" protoge of Ken Galbraith. When I was once thrown out of India for making films the Indian government didn't like (they also threw out the BBC) then, Ambassador Galbraith, took up the matter with B.K. Nehru, and I was let out of house arrest in Bombay. (Background) I do enjoy your posts Sankar. In a more perfect world perhaps...?