Oct. 30,1998---Madeleine Kobel Albright, Kofi A. Annan

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Taiwan Tati Cultural
And Educational Foundation
B16F, No.3 Ta-Tun 2St.
Taichung, Taiwan, ROC
October 30, 1998.

Dear Mrs. Madeleine Korbel Albright,
   Mr. Kofi A. Annan,

President Jiang Zemin has for several years campaigned stridently against corruption.

State-controlled media regularly report cases of government officials imprisoned or executed for corruption.

However; there's nothing to stop the corrupt officials, the state-controlled news media are limited in their ability to expose corruption.

In communist China; a backward legal system and political power concentrated in few hands gripes about corrupt officials are common in China. But a daring author has taken the complaints a step beyond blaming the political system that allows sleazy bureaucrats to get rich at the expense of ordinary people.

He Quing Lian's book punctures government propaganda built up during China's celebration of the 20th anniversary of economic reforms that moved the communist nation toward a market economy and urged Chinese to become wealthy.

Her book, the pitfalls of modernization, also hits a nerve because a large population of people are still poor and resent officials who profit from special privileges. "Most got rich through corruption, and not by producing anything" he said in an interview.

Economic reform is not enough for communist's system. The competition of democratic free economic system; is the only way for terminal rich one.

In our view; Beijing leaders know devaluation would itself be painful, particularly for companies importing raw materials, and machinery overseas conventional wisdom among reasoned China-watcher in Hong-Kong. Learned, no doubt, with large dose of domestic market the Renminbi's lack of total conventibility and Beijing's tight control of the financial system will enable China to escape most of the fall out from the crisis ravaging the rest Asia or at least so goes the argument. But the reality is that China can no longer isolate itself from global economic forces.

Beijing need your observation in which concerning about mainland financial crisis in the near future.


Sincerely Yours,
Yang Hsu-Tung.
President of
Taiwan Tati Cultural
And Educational Foundation



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