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To: bananawind who wrote (9866)	4/16/1998 10:02:00 AM
From: Ramsey Su	Read Replies (1) \| Respond to of 152472

Jim, you know my favorite subject is Asia and amazingly enough, the attention is now on Japan. Instead of the stabilizing factor, Japan may now be the destabilizer of the region. The yen is in trouble despite of numerous attempts by BOJ. Yes, Japan has a huge US$ reserve (I think in the $200+billion range) but it may not be enough. They can raise interest rates but that is a double-edged sword that can cut deeper into the recession. Japan is so influential in Asia and I wonder how they can remain competitive in the region. Who can afford to buy cars, consumer electronics, etc etc? If the yen is allowed to free fall, what is going to be the global impact? It is never easy. Ramsey

To: bananawind who wrote (9866)	4/16/1998 10:08:00 AM
From: brian h	Read Replies (1) \| Respond to of 152472

Jim and all, More good news from Ericsson's incoming royalty through Globalstar. Well. Either Ericsson get it or QCOM can handle the fixed site wireless phone booths contract. What do you think? CTHK Confirms Globalstar Agreement By Peter Hannam at Bloomberg News 16-APR-98 China Telecom (HK) Group Ltd, a unit of China's near-monopoly telephone operator, will become the sole Chinese partner of Globalstar LP's satellite phone services, a public relations official for Globalstar said. China Telecom's investment would be about $37 million, giving the company sole rights to market Globalstar's services in China, a second person familiar with the agreement said. An announcement on the agreement is to be made next Tuesday at a press conference. China Telecom (HK) Group Ltd is controlled by China's newly created Ministry of Information Technology and Telecom Industries, a merger between the Ministry of Posts & Telecoms and the Ministry of Electronics Industry. Its Hong Kong-listed red chip China Telecom (HK) Ltd now operates mobile phone systems in Guangdong and Zhejiang provinces. Globalstar LP is jointly owned by Loral Space & Communications Ltd, Qualcomm Inc. Air Touch Communications Inc. and France Telecom SA. Globalstar expects to launch a total of 44 satellites by the end of the year as part of a $2.7 billion network allowing users phone access any where in the world. Brian H.