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

To: Lee who wrote (5954)	8/27/1998 12:56:00 PM
From: Joseph Beltran	Read Replies (1) \| Respond to of 9980

Lee, It's not my area of expertise either and I was merely speculating myself...I have been keeping track of developments in south korea and it seems that the economic situation there is worsening and shows no signs of any improvement whatsoever. Unemployment is skyrocketing and social unrest is increasing. A very dangerous situation. That having been said, it seems to me that after a default individual companies would still be able to borrow money albeit at higher interest rates and/or subject to being collateralization. At this point in time companies in south korea can't even borrow money to obtain raw materials or upgrade capital equipment from which to manufacture exportable goods...Is that what the IMF had in mind? Don't know, but it doesn't make too much sense.