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

To: Lee who wrote (5187)	7/13/1998 10:22:00 AM
From: Zeev Hed	Read Replies (1) \| Respond to of 9980

Lee, of course it is the turnips fault. Including yesterday initial knee jerk down and the rally to positive territory, the turnips did not forecast this behavior, they poured few billions turnips into the Nikkei just before mid day siesta and then in the afternoon they added a little to the brewing fires. <VBG>. Zeev

To: Lee who wrote (5187)	7/13/1998 10:27:00 AM
From: Joe Dancy	Respond to of 9980

More links to articles FWIW - some may have already been posted: ASIA, JAPAN & RUSSIA Wealthier countries must support Japan and other Asian nations by granting new loans and humanitarian aid or restructuring existing loans. globe.com Crumbling under massive debts, suffocating from tight bank lending policies and squeezed by cautious consumers, Japanese companies are going belly up in near-record numbers. And, analysts say, the worst may be yet to come. detnews.com IT WAS presumably an American who invented the term "crony capitalism", since this is how the United States, or at least most of its free market economists, like to epitomise the economic crisis in the Far East. This is a crisis not of capitalism, the US view goes, but of bad government, a crisis born out of an orgy of corruption, nepotism, government mismanagement. independent.co.uk Before its crash, the whole of industrial Asia was built on a faith in elites. Elites rather than markets had determined who got capital, and therefore who was allowed to succeed in business. Now, the elites are on the run. The economies no longer need elites; they need dollars. afr.com.au With Indonesia's economy in ruins and famine looming in some areas, the country's senior economic minister appealed to top policymakers in Washington yesterday for contributions toward a new multibillion-dollar aid package aimed at maintaining subsidies for the poor to buy food and other essential item. washingtonpost.com As the Russian economy sinks deeper into crisis, pressure is mounting on the International Monetary Fund to save Moscow from a financial catastrophe that could spawn political chaos in the world's second-largest nuclear power. washingtonpost.com Dealers said there was growing disappointment in foreign exchange markets over Japan's ability to present detailed proposals to trigger domestic demand-led growth. scmp.com Joe P.S. - Links to other recent investment related articles are at exchange2000.com