Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: Don Green who wrote (19815)	9/26/1998 1:39:00 PM
From: goldsnow	Read Replies (2) \| Respond to of 116759

Fears rise of a global meltdown: survey 30% of S'pore-based MNC managers polled see it as likely [SINGAPORE] M ore than 30 per cent of Singapore-based multinational corporation managers believe a regional and global meltdown is likely, according to a survey by The Economist Conferences. It said in a statement yesterday the figure had risen from 5 per cent in July. "It is telling that so many believe in the likelihood of a meltdown," Christopher Nailer of The Economist Conferences said in the statement. "When we asked the same group of managers this question in July, only 5 per cent or so believed a meltdown was likely," he said. The statement said 53 per cent of the managers polled believed there would be no meltdown and that the regional and global economies would "muddle through". "There is very great uncertainty in the global environment with investors losing faith in developing markets generally and the negative effects on the major economies could be very severe," Mr Nailer said. "Within Asia, there is an increasing shift of mindset away from a belief in market mechanisms and towards direct government intervention to manage these economies," he said. "These are uncharted waters." However, 14 per cent of those polled believed there would be a quick turnaround in Asia within the next two years. "Assuming no meltdown, Taiwan, Singapore, China, the Philippines and Australia would turn around in one to two years," the survey showed. "For most of the rest of the region, the downturn is more like two to five years and for Indonesia, more than five years," it said. About 30 per cent of the managers described their Asia strategy over the next two years as "expansion on hold, managing risks, hanging in for the recovery". "This is a non-strategy," Mr Nailer said. "When there is this amount of turbulence going on, the market dynamics change fundamentally and companies that want to come through in good shape have to be prepared for fundamental changes also."-- Reuters business-times.asia1.com.sg