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

To: GuinnessGuy who wrote (2894)	4/4/1998 4:07:00 PM
From: Tommaso	Read Replies (2) \| Respond to of 9980

Thanks, Craig. That does provide some of the specific information I was hoping for. I believe it says about half personal savings are in those postal accounts. Must read it all again now. I would prefer to believe that your average Japanese citizen is not quite ready to withdraw all savings, convert them to dollars, and then have an American bank put the money in a U.S. mutual fund.

To: GuinnessGuy who wrote (2894)	4/5/1998 4:12:00 AM
From: GuinnessGuy	Respond to of 9980

All, While trying to dig up more info on the postal savings scene I ran across a record of testimony with the following snippets of surprising facts. Or are they facts? Any comments or refutations? ============================================================= [snip] In fact, if we allocate world trade according to the flag a company flies instead of the last port of assembly, you will find that the US has a net trade surplus in excess of $150 billion. Much of the economic turmoil in Japan today is being caused by excessively high tax rates. In fact, three of the first section listed companies on the Tokyo Stock Exchange have renounced their Japanese heritage and moved to Hong Kong due to a 15% tax rate compared to nearly 70% in Japan. Our economy contracted from the 1960s for 12 years. Japan appears to be facing the very same long-term trend. After 6 years, the Japanese economy remains in the throws of a near depression and taxes have still not been reduced. Despite the fact that interest rates have fallen in Japan to 0.25%, there remains no interest in borrowing for domestic economic expansion. [snip] At times, up to 40% of our national debt has been held by offshore investors who pay no income tax in the US. This means that domestic spending from Congress is no longer stimulating our domestic economy. If fact, an analysis of capital flows reveals that the Japanese earned more from the US on their investment income in the past 16 years than they did on trade.[Say what!!!! - C.S.] [snip] pei-intl.com