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To: IQBAL LATIF who wrote (13667)	1/31/1998 8:25:00 AM
From: Zeev Hed	Read Replies (1) \| Respond to of 18056

Iqbal, the ray of light I see in Europe is in the emergence of the "Venture Capital" concept supporting the development of a new crop of nascent companies. If Japan had a similar revolution it would not find itself with 95% of their large companies (or is it even higher, I think Sony is the only large Japanese company created post WWII) with antique governance structures. You do not get a "survival of the fits" culture, and thus a constant process of renovating the economic infrastructure without a large body of nascent companies headed by "crazy" dreamers. That kind of state is yet unfathomable in Japan. But Europe is well on its way. The reason I am somewhat positive on China, is that infrastructure of older ossified companies is not in place and thus the creation of entrepreneur lead corporations that can launch China into the next century as an economic power is feasible. Zeev Zeev Zeev