US fiscal policy biggest stake in election

A seminar on the impact of next year''s US presidential election finds grounds for investors to be optimistic.

Investors looking for clues to the impact of the US presidential election in 2004 should assume that the biggest policy change if the Democrats win would be a reversal of the Bush administration tax cuts, say executives at Principal Financial Group.

On Friday, Principal held a seminar in Hong Kong for local financial institutions that looked at political and economic prospects impacting the US election and how Asian investors should position themselves.

Stuart Brahs, vice president for Principal's federal government relations in Washington, DC, says George W. Bush's re-election was probable, in part because the Democratic party had not found a credible standard-bearer, but predicts that the Republicans would lose...

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