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

To: Worswick who wrote (7746)	12/24/1998 4:28:00 PM
From: Jon K.	Read Replies (1) \| Respond to of 9980

Even though Mr. Armstrong has some valid point on his article, I disagree with his view that the funds will flow to US. He is only looking at a few trees and not the mountain. For past 20 years all those economists and brains thought EC was just a joke and criticized that it will never happen with more than 10 countries with their own economic interest. Now Euro is a reality and Euro will be as powerful as dollar within a year or two. And already Asian countries are preparing to diversify currency holdings from dollar to Euro. At first maybe 70% dollar to 30% Euro, but eventually it will be 50/50. The mighty dollar will lose its power as Euro will be more stable currency with its rigorous Euro standard. Can you imagine what will happen with all those unwanted greenbacks heading back home? Japanese unloading all those US bonds?

To: Worswick who wrote (7746)	12/25/1998 6:58:00 AM
From: Dayuhan	Read Replies (2) \| Respond to of 9980

Worswick, PEI says: We will NOT see a new utopia of economic growth that will displace the United States, but instead we are about to witness the collapse in economic growth for the 11 members of EMU. My own guess is that what happens will probably well between those two rather extreme poles. Interesting article with valid points, but it should be remembered that many of the EU's ideas are ideologically distasteful to PEI. This does not necessarily mean that they are entirely wrong, or that more viable ideas could not evolve out of them. My faith in Europe's bureaucrats is very limited, but so is my faith in Princeton's economists. Steve