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To: Tony Wang who wrote (38305)	3/7/1998 6:40:00 PM
From: Thomas M.	Read Replies (2) \| Respond to of 61433

Why did China devalue in 1994? Tom

To: Tony Wang who wrote (38305)	3/7/1998 6:43:00 PM
From: Glenn D. Rudolph	Read Replies (1) \| Respond to of 61433

They have huge foreign currency reserves, a surplus where the US has a deficit. Tony, Do you know if they have a large gold reserve too? Glenn

To: Tony Wang who wrote (38305)	3/7/1998 7:48:00 PM
From: C E D	Read Replies (1) \| Respond to of 61433

Not true. China has a different economy model than their asian brethrens. They also entered the capitalist road late and are aware of the mistakes the Thai's and Malay's and the Indonesian's made. Are we talking about China, the big one? Come on, their banks are over burdened with unprofitable state industries they can't close fast enough, expensive new office buildings that aren't being rented and a host of problems that look very much like other parts of ASIA. Recent network news said the government just committed to taking over an estimated two hundred billion in nonperforming loans to save the banks. Are you doing public relations for China or something? Regards, Ed