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

To: Worswick who wrote (7929)	1/27/1999 6:04:00 PM
From: Z268	Read Replies (1) \| Respond to of 9980

Worswick, RE: "LAST year alone, Asia's 500 richest families outside Hong Kong and Taiwan lost, on average, between 50 and 70 per cent of their net worth, investment adviser Marc Faber says". 30% to 50% of a lot of money is still a lot of money. These people will bounce back as soon as things improve. I have friends whose son, a graduate from a US college, is working for a paltry $200 per month in Jakarta. He still buys $400 Gucci belts - Dad is still rich! The real mega hit is the nascent middle class now sliding into abject poverty - I have other friends who have sold their cars for food, and are now down to selling furniture. Best, Steve.