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To: Broken_Clock who wrote (19496)	4/18/1998 3:13:00 PM
From: William L. Oppenheim	Respond to of 95453

I used to think this international stuff was complicated, but here is my current thinking for better or worse. The way it works is really pretty simple. When Asia crashed, goods became much cheaper there in terms of alternate currencies. This is good for USA consumers and for Asia since we buy lots more from them more cheaply than we can get them elsewhere, even at home including the longer transportation costs. This puts a lot of short term cash in their hoppers, but is reflected in an increase in the USA trade deficit. It tends to help Asia correct it's own problems. Consumers here profit, but our debt driven government isn't so happy. It tends to think in terms of dollars disappearing overseas. Of course it does not count as wealth the goods that are now over here. The bottom line is that Asia should be self correcting over a shorter time than would have been envisioned if the world were not so globally interconnected. Of course the playing rules ought be leveled from country to country, but even as now exist, are helpful when misguided government protectionism fails, as it always will in a truly free world economy. For those wringing their hands over Asia's woes, and the supposed effect on oil consumption, be patient. Correction is not as far away as you think. The market potential with more folks having / wanting cars, and more factories opening is immense. In the meantime, buy a new computer or TV at the lowest costs ever <g>.