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

To: MikeM54321 who wrote (8065)	2/22/1999 5:39:00 PM
From: Paul Berliner	Respond to of 9980

Mike, personally I gather that Japan is actually quite annoyed with the plethora of criticism from other countries on how they've handled their economic problems, and I think that they are holding quite a grudge against the U.S. for their part in the them chastising. The Japanese do not enjoy us meddling in their affairs and telling how to conduct monetary policy - they are a wealthy nation and it is simply humiliating for them to undergo constant visits and proddings from our treasury department.... Because there is no danger of the IMF ambulance winding up outside Japan's door, there is no need for the U.S. to 'seize the reigns' as they have with many other countries - Japan wants to work out its problems on its own because it wants to see itself as a peer to the U.S., not a subordinate. Ultimately, I reckon that it is their goal to have the tables turned and the roles reversed in a few years' time. P.S.> I mentioned 2 months ago on the long bond because that is more or less the last time it was at 5%.