Yuan

Doug Henwood dhenwood at panix.com
Wed Aug 12 12:46:25 PDT 1998


Seth Ackerman wrote:


>Why is there such a discepancy between what "informed opinion" thinks of
>the chances for a Chinese devaluation and what the world's investors
>think?

1) "Informed opinion" is speaking of wish-fulfillment, not reality, and the markets are right.

2) The markets are populated with shallow opportunists who don't know yuan from tree ears, and "informed opinion" is right.

As the late Ed Hart, of FNN, used to say, we'll know the answer in the fullness of time.

Doug



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