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To: Bobby Yellin who wrote (33861)	5/14/1999 7:25:00 AM
From: long-gone	Read Replies (2) \| Respond to of 116796

I've never thought we needed to wait for the media to report the "truth", rather, we can tell the truth to each other. The basis of this "greatest economy of all times" are simple lies. Even Greenspan lies, or he repeats lies told him. During his last speach, he said" near the entire job of inventory control has been eliminated by J.I.T. inventory management practices and information management systems. I contend, many of these functions have rather been EXPORTED! He lies to himself and others. The very worst type of all liars. I have several friends who do production materials control(some whom I trained) and inventory management whose bi-lingual status allows them to live in El Paso TX and cross the border (by phone at times and in person others) to get the job done(I was offered three such jobs for two companies - I know they exist).

To: Bobby Yellin who wrote (33861)	5/14/1999 9:51:00 AM
From: lorne	Respond to of 116796

Hi MD. looks like some folks getting a bit fed up with US. domination. FOCUS-Malaysia on APEC collision course with U.S. By Nelson Graves LANGKAWI, Malaysia, May 14 (Reuters) - Malaysia on Friday called for urgent steps to protect developing nations from volatile capital flows as Asia-Pacific finance officials debated plans to keep Asia's tenuous economic recovery on track. Malaysia's renewed call for controls on cross-border hot money set up a possible clash with the United States and the International Monetary Fund (IMF) at a weekend meeting of Pacific Rim finance ministers. Second Finance Minister Mustapa Mohamed, chairman of the two-day weekend meeting of Asia-Pacific Economic Cooperation (APEC) finance ministers, said no concrete steps had yet been taken to stabilise the global financial system. "There is a need to develop rules and regulations to prevent currency manipulation and to ensure the efficient operation of currency markets," he told reporters on the resort island of Langkawi, a showcase for Malaysia's economic development. "We do not want this urgency to reform the international system to wane in the current stable climate." Malaysian Prime Minister Mahathir Mohamad has blamed currency speculators and highly leveraged hedge funds for triggering Asia's financial crisis in 1997. His government imposed controls on foreign exchange flows in September, provoking the ire of foreign investors. Host Malaysia wants APEC ministers to issue a statement supporting controls on the flow of speculative capital. The United States, whose delegation will be led by Treasury Secretary-designate Lawrence Summers, is opposed to new barriers to capital flows but supports closer monitoring. Mustapa said Malaysia had won growing support from regional allies, but conceded he did not expect any concrete proposals to emerge from the finance ministers' meeting. "Until you go through the suffering we went through...it is very difficult for people and others to comprehend how painful currency manipulation can be," he said. "It's going to be quite difficult to move forward on this issue." Summers' appearance at the APEC meeting will be the first test of his ability to emulate the savvy that won outgoing Treasury Secretary Robert Rubin widespread respect. Summers, nominated to replace Rubin, will come to Langkawi to hammer home Washington's message that Asian economies must press ahead with painful reforms even though the crisis has eased. Japanese Finance Minister Kiichi Miyazawa was to enhance his $30 billion package of aid for Asia, which with the exception of Indonesia is expected to return to economic growth this year. "The most important thing now is to bring together money for these countries -- as much of it private as possible -- from around the world, including Japan," Miyazawa said on Friday in Tokyo before leaving for Langkawi Island. At the APEC meeting, Miyazawa was expected to offer Japanese government guarantees for Asian sovereign issues of yen-denominated "samurai" debt in the Tokyo market. Bankers meeting in Langkawi on the sidelines of the APEC meetings, which started on Friday with talks between finance officials, planned proposals to strengthen Asia's bond markets and reduce firms' reliance on bank financing. The Japanese minister said he also wanted to discuss stabilising currency systems to prevent further crises. Malaysia has also repeatedly knocked heads with the IMF, which Kuala Lumpur accuses of exacerbating Asia's crisis by advocating higher interest rates. Unlike Thailand, Indonesia and South Korea, Malaysia did not adopt an IMF programme. IMF Managing Director Michel Camdessus called off a planned weekend meeting with Mahathir. Mustapa said a scheduling conflict prevented the two from meeting. World Bank President James Wolfensohn risked the Malaysian government's ire by meeting the wife of jailed former finance minister Anwar Ibrahim, sacked by Mahathir in September and sentenced last month to six years in prison for corruption. Wolfensohn said he met Wan Azizah Wan Ismail in a gesture of friendship unrelated to Malaysian politics. Mustapa shrugged off the meeting, saying Malaysians could meet anyone they liked. reuters.com