Verdict on the crisis
Saturday 30 August 1997
Tan Min Lan, senior economist and strategist for Singapore at Merrill Lynch
`The turmoil will go on for some time. We need to see some stability in currency markets, which will allow interest rates to normalise and reintroduce some stability.'
Edward Goodchild of fund managers Foreign & Colonial
`Events in Asia might be the trigger for a correction on Wall Street, which could have a dramatic impact on the American economy.'
Mark Cliffe, chief international economist at HSBC Markets.
`At this point, cash is king. The US dollar is the safest bet.'
John Lai, a fund manager at Nikko Asset Management
`US markets have factored in nirvana, assuming the world is in perfect balance and earnings will continue to grow. This complacency is being shaken.'
Gail Dudack, equity strategist for UBS in New York
`Shaky waves are reaching us from Asia, affecting European and US stocks.'
Christoph Bruns, fund manager at Union Investment in Germany
`Everyone would rather hold on to cash now that the whole region's going down the tubes.'
Husan Pai, a fund manager at Indosuez Asset Management Asia
`You can't fight the market.'
Goh Chok Tong, the Singapore Prime Minister
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