Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Peter Singleton who wrote (50655)	3/8/1999 4:31:00 PM
From: Earlie	Read Replies (1) \| Respond to of 132070

Peter: There have been massive lay-offs and plant closing across a broad sweep of China's industries (mining, petro-chemicals, textiles, steel, etc.). The numbers are simply staggering. The Chinese government probably worries more about unemployment than any other topic. The problems are multi-fold, but the major difficulties relate to an insolvent banking system, and unsaleable, massive inventories (e.g. black and white televisions). China has been trying to avoid a devaluation, but it appears inevitable (see black market exchange rates,....these guys are never wrong). When (not if) China devalues, Asia will be thrown into turmoil again. It is more than unfortunate. Best, Earlie