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

To: Ramsey Su who wrote (5568)	8/14/1998 9:25:00 PM
From: Stitch	Respond to of 9980

Ramsey, <<The Asian problems are so massive that I know we don't have a solution. Why not just shut up and let them work their way out? As for trade restrictions, that has a simple solution that our government never had the spine to enforce. All we have to do is let Japan or any trader partner make the rules. We will then adopt same.>> Never had the spine? Maybe "had the wisdom to not be lured into enforcing" is a better way of saying it IMO. Actually I think you answered your own question before you posed it. <<I am not trying to start WWIII, just pointing out the ugly part of human nature that we are all part of. >> Certainly we could include "tit for tat" as an ugly side of human nature. At some point one has to decide what the "good fight" is and turn our backs on the "ugly part" of our nature. If we do then we must stand and do just that. Fight for it with little regard for the pain inflicted. I think Friedman was right. Free markets are the best answer. But I also recognize that world-wide foreign relations and strategies have shifted away from the armaments race to the board rooms and factory floors (with many troubling and notable exceptions). So I think it is idyllic to expect that governments would not become involved in currency trading for example. It is right and proper for goverments to take an active interest in issues affecting national interests. I would hope that someday we could see treaty-based rules and regulations on currency valuations that would dehorn the speculators. But we likely have much ground to cover before that happens. There will be black spots on the record when historians look back at this period. Much in the same way as when we look back on the emergence of America and see slavery, the treatment of native Americans, the robber barons, the civil war, the flirtation with imperialism culiminating with Vietnam, and on and on. We are, after all, and including all, an imperfect species. Best, Stitch

To: Ramsey Su who wrote (5568)	8/14/1998 9:25:00 PM
From: Jurgis Bekepuris	Read Replies (3) \| Respond to of 9980

Ramsey, >Take the former USSR as an example. I cannot remember >anytime in history that they have any form of democracy. Russia did not have democracy before, but some countries incorporated in the USSR or strong-armed by them did. > It is a totally irresponsible act of the self appointed >world leader to coerce and strong arm this thing > called "democracy" down their throat. Thanks so much for caring about poor souls with "democracy jammed down their throats". If you had your way, all the countries occupied by Russians would still be a part of the "glorious" USSR. Thanks, I choose Mr. Reagan over Mr. Su. Even now. >The leadership, the political infrastructure and above all, > the people, are not ready for it. So a few opportunists took > over and the people are screwed. Mr. Su is so generously underestimating what "people are ready for". When is the last time you lived in Russia or any other Eastern European country? Yes, we have problems with economy. Yes, there are corrupt political opportunists in power, who don't have a clue about running countries. Yes, some people live worse than they lived during socialism. But don't tell me that people are not ready. The conversion to capitalism and democracy is going on. With a little bit of luck we'll go the way of Europe and not the way of Indonesia. >Just imagine what the US would be like if we wake up one > morning and we are now all communists. We, having never > lived under a communist system before, would have >to start from scratch. How do you think our economy will > function, not to mention our daily lives? Better than you think. First of all, people are very adaptable. Second, socialism is not an efficient economical system, but it's not that different. Imagine, that US Government nationalized all companies, and ran them. What would change? European countries did that to various degrees. We can debate psychological and moral attitudes of American vs. Russian people, but let me assure you that they are not that different. You know, I'll go out on a limb, and tell you that people throughout the history of humankind haven't changed much. Some of us would still feel at home among cannibals. :-)))) Good luck Jurgis (from Lithuania and proud of it)

To: Ramsey Su who wrote (5568)	8/14/1998 10:09:00 PM
From: Joseph Beltran	Respond to of 9980

"As for trade restrictions, that has a simple solution that our government never had the spine to enforce. All we have to do is let Japan or any trader partner make the rules. We will then adopt same." Ramsey, if I understand you correctly, that is exactly my point: apply the same restrictions which Japan applies to imports from other countries to imports from Japan to our country...What basis would Japan (or their lobbyists) have for crying "foul" then? It should not reduce itself to a matter of having "the spine to enforce", but to a matter of fundamental fairness. As to the issue of Japan's national defense, I think it would be very much in Japan's interest to start thinking in terms of establishing and maintaining its own national defense and not rely so much on the u.s. With the emergence of China and the troubles facing North Korea, I would not feel exactly "secure" if I were Japanese, Taiwanese, or South Korean. I think americans would have some serious, serious reservations about placing our sons and daughters in harm's way for the primary benefit (directly or indirectly) of Japan, Taiwan, or S. Korea. At least for my part -absent a compelling (and I mean compelling), vital, and direct u.s. interest, I would do what I could to keep this country out of it. regards

To: Ramsey Su who wrote (5568)	8/15/1998 12:20:00 AM
From: Ron Bower	Read Replies (1) \| Respond to of 9980

A question. I am not as familiar with Japan's system as I should be. What are the restrictions to foreign ownership in Japanese companies? Also - It is my understanding that Japan's tax on corporations is 65%. Can this be right? And - that the banks pay very low interest to the government run pension plans allowing them to make low interest loans? Any other info regarding the governments restrictions or influence on business would be appreciated. I'm trying to understand Japan's current situation. I think I may have some misconceptions or wrong information. I know the problems with the banks, but not those caused by the government. TIA, Ron