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

To: Ron Bower who wrote (7192)	10/17/1998 7:22:00 PM
From: Ramsey Su	Respond to of 9980

Ron, I don't really understand the GITIC situation so I do not mean to imply anything earth shattering would come of it. Guangtong province, which includes Guangzhou, is most influenced by HK and Taiwan. The question I have is how many of these GITICs are out there. At this time, it is unclear what is going to happen to the creditors. If UBS is owed $100M with an 80% recovery from asset, it would not even show up on the economic radar screen. If China makes up the deficiency, it would be excellent news. On the other hand, what if these are Japanese style accounts. What if the 80% asset/liability ratio turns out to be 20% plus some scandals. Who else other than UBS may be on the hook? Ramsey