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

To: Bucky Katt who wrote (2137)	2/13/1998 10:58:00 PM
From: DMaA	Read Replies (3) \| Respond to of 9980

Dumb question. What difference does it make if China to devalues a currency that isn't convertible anyway?

To: Bucky Katt who wrote (2137)	2/14/1998 10:44:00 AM
From: Mohan Marette	Respond to of 9980

William: Asia no 'catastrophe' says Siemens or one man at Siemens. Saturday February 14, 6:56 am Eastern Time Siemens chairman says Asia no catastrophe MUNICH, Feb 14 (Reuters) - The outgoing supervisory board chairman of German electronics group Siemens AG (OTC BB:SMAWY - news; SIEG.F) was quoted as saying on Saturday that the Asian financial crisis would result in a fall in orders but would be no catastrophe. ''We will have to cut our forecasts for new orders in coming years,'' Hermann Franz was quoted as saying in the Sueddeutschen Zeitung newspaper. But he told the newspaper that even if Asian sales fell 20 percent, this was only equivalent to two or three percent of total business. The company's internationalisation of its business would continue, he said. Franz, who will be replaced as supervisory board chairman by Karl-Herrmann Baumann on Thursday, said the company was not at present looking at large acquisitions on top of recently announced plans to buy Elekrowatt's (ELWZ.S) industrial business and the fossil fuel business of Westinghouse (WX - news).