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

To: tom who wrote (5400)	8/6/1998 12:41:00 PM
From: Sam	Read Replies (1) \| Respond to of 9980

A "slow motion exogenous shock": more from Paul Erdman on Asia. cbs.marketwatch.com

To: tom who wrote (5400)	8/6/1998 7:32:00 PM
From: Stitch	Read Replies (1) \| Respond to of 9980

tom, Very thoughtful post on HK and the RMB. Could you help me understand the following better: <<The IMF would probably have to announce a standby facility to cover the HK$ deposits not covered by foreign reserves but I think they would go for this and in any event it is unlikely that every Hong Kong $ would be exchanged for a US$. The HK$ will probably not devalue for this reason but the economy will remain very, very weak for at least the next two years. >> I do not understand the role of the IMF in this context. Thanks, Stitch