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To: The Street who wrote (20951)	10/7/1998 10:48:00 AM
From: Dwight Taylor	Read Replies (1) \| Respond to of 116856

"In times like these?" I'm not so sure "times like these" are clearly understood, especially by yours truly. As Rubin has said solving Japan's problems are the root of solving the global concerns. But it can be argued Japan may become less important in world economics as time goes on. The emerging markets have much more potential for growth. In addition, they have the wisdom of learning from Japan's boom to bust credit expansion policies. I wouldn't be surprised if the US places less emphasis on Japan and injects fresh capital in other markets. After all, Japan's lending rate is .25%, any lower and they're giving it away. Clearly, there are some serious fundamental problems in Japan that will take years to improve.