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To: LindyBill who wrote (94394)	2/3/1999 11:28:00 AM
From: Mohan Marette	Read Replies (2) \| Respond to of 176387

Lindy: China devaluation,quite unlikely in my opinion as they have in effect already accomplished this by export subsidies so there is no point in scaring the world markets by an official devaluation and that is not good for the Chinese themselves. Another point to keep in mind is that by officially devaluing the currency they are inviting increased cost in serving their external debt which is about $50 billion right now. Also there is no advantage in doing this as according to one Chinese official or banker the problem is not the currency but lack of demand in other Asian countries.If China devalues this will further jeopardize any hope of the other crisis stricken countries recovering any time sooner and that is not good for Chinese. So you see I see no reason.