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To: Rif Kamil, M.D who wrote (74111)	10/23/1998 11:44:00 AM
From: Mohan Marette	Read Replies (1) \| Respond to of 176388

<Chinese Economy> Invoking old man Keynes. Rif: Much obliged for posting the article,very kind of you. I do believe China is going to be a world power both economically and militarily with in the next 10-15 years.I guess the world better get used to the idea,the sooner the better. Now looking at the present situation one needs to give them some credit (acutally a lot of credit) for staving off the 'contagion' and thus helping world economy slipping in to further chaos. Government spending: I heard they will be spending something like $127 million dollars a day in road construction alone for the next year or so. I think it is a very prudent and calculated measure on the Chinese government's part to keep the economy growing,they have no other choice as S.E Asian's have pretty much made sure of it with the crappy 'free market' foray without adequate structural support in the name (corny) capitalism. Governments are forced to invoke old Keynesian economic principles when they are corned by unfriendly and extraneous economic forces,I have to applaud the Chinese for showing the courage to act at a time of economic adversity,quite unlike the god damned Japanese who looked quite helpless and paralyzed when faced with economic woes,trillions of dollars in reserves notwithstanding. As for the end of economic liberalization in China-They only have postponed the privatization process for the time being and it is quite understandable especially considering the economic uncertainties that surround them,contrary to popular desires of fat cats like the Camdessus of the world who are running around in their pinstripe suits having no idea what the hell they are talking about.When things get back to normal in a year or two or three I am quite sure they will continue the liberalization process as they have done in the past because to do it now will be quite undesirable both economically and socially. I better quit before I get too excited.<vbg> Thanks again.