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

To: Sam who wrote (1461)	1/23/1998 1:00:00 PM
From: yard_man	Read Replies (1) \| Respond to of 9980

Do tell. I always liked watching him when I owned a TV.

To: Sam who wrote (1461)	1/23/1998 3:42:00 PM
From: Mohan Marette	Read Replies (2) \| Respond to of 9980

Great post Sam ! No I haven't read Lester Thurow's article but am vaguely familiar with his writings,but he seemed to have brought up some interesting points here. EU & EMU: Brilliant concept but so is Communism, I know that is a bit of a harsh statement,but what the heck i say it anyway. For one thing Europeans have a proclivity to be parochial (as well as anyone else) due to their differences in history,culture,language etc. Then they have the daunting task of integrating the weakest among them into the union,such as the Sothern Europeans-Portugal,Ireland,Spain and the like. Another thing to worry about is the shift of labor and capital,former from the weaker economies and the latter into areas where there are opportunities,thus creating perhaps social problems in some regions and massive unemployement in some due to flight of capital. EMU is viewed with suspicion in some quarters as currency is the very symbol of one's Soverignity,take that away people will feel helpless,weak and somewhat naked,it is as if one's destiny is being handed over to someone else to manage.I don't know how countries will feel when their monetary policies will formulated elsewhere. I heard a few years ago experts predicting Japanese Yen is going to be the reserve or 'safe haven' currency,to some extent it was for a while in SE Asia in conjuction with the US$,but Yen never really became a currency of choice as perdicted. So likewise, we will have to see what the fate of EMU will be,if they ever come up with one. I heard UK is dragging their feet and Germany, the self-appointed leader of the pack, may also be having second thoughts. I hope Thomas and others who are more familiar with the situation will come to our rescue and post their thoughts and opinion. Asia: they must and should develop a healthy domestic market because Japan has already proven that exporting alone wounldn't do the trick. They must open up their domestic market and promote small/medium size businesses along with developing their agricultural sector.Finally, they must adopt transparent business polices while managing the economy with a sound monetary and fiscal policies,and oh,while at it they can get rid of that nepotism and curruption business as well.