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To: FR1 who wrote (31899)	8/30/1998 7:09:00 PM
From: Loki	Read Replies (1) \| Respond to of 97611

Franz Ross...End of August beg. Sept is the Japanese "bon" holiday. There will probably be little meaningful activity. Japan is presently in more trouble than most Americans realize. 1. Laws permitting non-transparent financial information on companies and financial institutions. 2. Non-effective bankruptcy laws. 3. Aging population, which does not bode well for future social security and productivity. 4. Lost confidence in government. There aren't enough safety boxes available to hold people's savings. 5. A government that appears more interested to maintain power than exercise a policy. 6. Underlying business practices that do not take into account free-market enterprise. (Gov't controlled/protected local market in past) 7. PRC/HK (or Greater China) desire to be dominant Asian economic force. Competition to Japan. A further crisis and/or outside pressure (USA, Europe?) could stimulate some change. It could come from different government leaders in Japan. The past experience has shown agreement to American "suggestions". The actions have been none, or different. It unfortunately, reminds me of the following: "If you do not like what I am doing...I will continue to do it... just to show you...regardless if our people suffer...this is what I have set into motion and to change that would be to loose face and say 'I was wrong'..." Only something more drastic, which I do not foresee at this moment, will change the course of Japan's economy. Please give me your insight. Loki