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To: Rutgers who wrote (29019)	2/1/1998 3:47:00 PM
From: Stoctrash	Read Replies (1) \| Respond to of 50808

Lets play Fool; CREAF - Creative is always near the forfront. Jazz MM (?) Dazzle MM - a natural progression from DAZZLE. Diamond MM - ATI and others - Hi-VAl - Quadrant - E4 - Who qualifies? ======================================== Sunday February 1, 12:10 pm Eastern Time China vice-premier rules out yuan devaluation DAVOS, Switzerland, Feb 1 (Reuters) - China's vice prime minister Li Lanquing on Sunday ruled out a devaluation of the yuan currency to stave off the threat of greater competition from Asian neighbours. ''We are very firm in our determination not to devalue the yuan. The devaluation of the yuan would lead to devaluations of other currencies in the region. This would have an avalanche effect. That would be a disaster for stability and growth in Asia and the growth of the world economy,'' he told a panel discussion at the annual meeting of the World Economic Forum. ''China should not add fuel to the flames,'' said the vice prime minister but gave no details. Also speaking in Davos, Chinese industrialist Jing Shuping echoed a similar view. He told a panel discussion that China should be able to hold the yuan's value against the dollar thanks to its trade surplus and ''favourable balance of international payments.'' ''There is much speculation today about the possibility of the yuan devaluation. I think this is not necessary. The yuan has appreciated for 31 months on end against the dollar,'' the industrialist said. ''China is fully aware that any attempt to devalue the yuan would lead to further destabilisation of the financial situation in Asia,'' he added. Observers say a yuan devaluation might be seen by the Southeast Asian countries as a move to promote China's exports at their expense and trigger a speculative attack against their currencies.