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To: LLCF who wrote (6659)8/14/1998 1:51:00 PM
From: Scott Maxwell  Read Replies (1) | Respond to of 10921
 
> corruption was probebly always there, not caused by the
> inflow of capital. Example: Indonesia

No disagreement; the point was that government/business collusion/corruption is almost as bad now as it was when economies were much smaller, when the normal tendency is to wring much of it out as urban middle classes (whose interests are most hurt by the drag) grow. Bad times means suppressed political forces will rise to the surface.

Anyway, just wanted to point out the odd effect of fleeing Asian capital ending up recycled into foreign displacement of Asian managements.