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Strategies & Market Trends : HONG KONG -- Ignore unavailable to you. Want to Upgrade?

To: RealMuLan who wrote (1341)	2/14/1998 9:56:00 AM
From: Worswick	Read Replies (2) \| Respond to of 2951

Yiwu Barton Biggs seems to me to be getting on both sides of the horse at the same time in the article you posted. This is a difficult if not impossible feat for an ordinary man, but not, perhaps, for someone who has $150 billion on the table. It's not that Barton loves China, it's just that he's a deeply worried man. I noticed a similar Morgan Stanley "pronouncement" about the incredible good health of the "emergent markets" in months to come, particularly China, that came out of one of their people visiting Peking. I scratched my head and wondered. I believe Morgan Stanley has gone on the PR offensive here to build people's confidence. I'll say again Barton's message was full of so many equivacations wrapped in rose balls that he seems to be dancing to a very fast tango. Jesus but he has such a great tailor and looks so great. I can't imagine, however, the heat this guy has taken from all the money mangers who bought "emergent market" products served up by Morgan/Stanley. Personally, I'm not a bear on Asia. I just think the plumbing needs fixing and the honey pots are overflowing.

To: RealMuLan who wrote (1341)	2/16/1998 6:49:00 PM
From: RealMuLan	Respond to of 2951

Asia's crisis leaves mark on trade in January DESPITE heavy pressure imposed by the devaluation of Asian currencies, China still reaped a handsome US$12.68 billion from exports in January, an 8.8 per cent increase over the same period last year. The fruit would have been even bigger if Spring Festival, China's most important holiday, had not arrived in January, an official from the General Administration of Customs said. The backbone State-owned enterprises still acted as the mainstay in January. Their income from exports leapt to US$6.82 billion, accounting for 53.8 per cent of the nation's total value of exports. The increase is 6.5 per cent from last January. Foreign-invested companies also showed strong momentum last month. They exported US$5.45 billion worth of products, registering a 11.3 per cent rise. The financial turmoil that has swept across Asian countries has led to a decrease in China's exports to those countries. In the first month, China's exports to Asia slipped 1.4 per cent to US$6.99 billion, with those to South Korea suffering most, falling 6.4 per cent to US$440 million. Exports to the nine countries in Southeast Asia also dropped 4.2 per cent to US$780 million. Exports to Africa turned in a stellar performance with a 42.9 per cent surge to US$240 million. Those to North America rose 14.3 per cent compared with January 1997 to US$2.47 billion, and those to Europe were worth US$2.41 billion, up 33.7 per cent. Despite a number of incentives, China's imports in January still dropped 12.9 per cent to US$8.69 billion, leading to a 1.2 per cent fall in the total foreign trade volume, which was US$21.37 billion last month. Imports by State-owned enterprises were cut by 14.7 per cent to US$3.3 billion, and foreign-invested companies' imports dropped 11.4 per cent to US$5.21 billion, taking up 60 per cent of the total volume. It is expected that with the large-scale slash of import tariffs and the various kinds of import incentives, China's imports will move upward in the coming months.