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

To: Stitch who wrote (6071)	9/1/1998 12:35:00 PM
From: Robert Douglas	Respond to of 9980

Stitch, Anyone that does not believe that the events of the last year do not represent a set back for free markets and , in fact, democracy, should study further IMO. This of course is my greatest worry about the events of the last year, and it's hypocritical for those of us sitting in our cozy dens to be too critical. Whenever the US goes into a recession, mild by comparison, the clamor always starts for change here. I can't imagine how difficult it will be for some of these countries to resist the cries for change given the extreme nature of their difficulties. It would be a shame if the events of the last year pushed these countries back into dictator-led command style economies. This is why I believe that the US has a huge stake in the outcome of the Asia crisis and why I hope the Federal Reserve eases fairly soon. On the positive side, which I will undoubtedly get flamed for, there is cause for hope. Most of these countries are playing a game of copycat. Whatever is working in the world they will copy. Unfortunately, over the last decade they copied Japan and the Japanese model of capitalism. This was not entirely their fault as most of their Western-educated advisors told them to do so. What will likely happen in the future is that some emerging-market country will hit on a formula for success and will be copied by most of the others. They will do so for one simple reason, they need investment! Even communist China plays by the rules enough to attract investment. Perhaps some will choose to thumb their noses at the world and join North Korea, Cuba and Iraq in their economic paradises but I believe those that do so will be few. -Robert

To: Stitch who wrote (6071)	9/1/1998 1:31:00 PM
From: Bosco	Read Replies (2) \| Respond to of 9980

Dear Stitch - 1st, it is not a rebuke - well, ok, a disagreement. I guess neither of us understand each other. I'd venture to believe that both of us have similar attitude toward Malaysia. However, I don't know if your "region" means the whole of Far East [as you opened with your post by refering to Kipling and S Mamgham. My point simply to say one cannot lump all SE Asian countries/economies together. Each has its own set of problems and potentials. Regarding the immediate post to which I am responding, again I am lost. I do not see any policy from HK, Taiwan, Korea etc are increasingly xenophobic. So, if you are referring to just Malaysia as the "region," then we are in agreement - and my apology. However, if the "region" is categorical of the entire Fast East region, then I respectively disagree - that not all asians are alike [to digress, a funny story, really. I went back to HK a few years ago. As I was walking down a busy street in Northpoint, a stream of humanity was walking towards me. At that point, it dawned on me: by god, people in the US are right - orientals do look alike <VBG>! best, Bosco