Voice of America, 97-04-23

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From: The Voice of America <gopher://gopher.voa.gov>

CONTENTS

[01] ALBRIGHT / NATO (S-UPDATE) BY DAVID GOLLUST (WASHINGTON)

[02] BALKAN REFUGEES BY DOUGLAS ROBERTS (GENEVA)

[03] COMPUTER CONCERNS BY ANDREW J. BAROCH (WASHINGTON)

[04] EURO CURRENCY (L-ONLY) BY JOHN FRASER (BRUSSELS)

[05] EURO STOCKS (S ONLY) BY JACK HUIZENGA (LONDON)

[06] N-Y ECON WRAP (S & L) BY BRECK ARDERY (NEW YORK)

[07] U-S / E-U MEAT TALKS (L-ONLY) BY VICTOR BEATTIE (WASHINGTON)

[08] WEDNESDAY'S EDITORIALS BY ANDREW N. GUTHRIE (WASHINGTON)

[09] WORLD BANK MEETS (L-ONLY) BY BILL WYATT (WASHINGTON)

[10] WORLD ECONOMIC OUTLOOK (S-ONLY) BY BILL WYATT (WASHINGTON)

[01] ALBRIGHT / NATO (S-UPDATE) BY DAVID GOLLUST (WASHINGTON)

INTRO: SECRETARY OF STATE MADALEINE ALBRIGHT FLIES TO MOSCOW NEXT WEEK TO TRY TO CLEAR AWAY ISSUES BLOCKING CONCLUSION OF A CHARTER GOVERNING FUTURE RELATIONS BETWEEN RUSSIA AND NATO. SHE SAYS THE ADMINISTRATION WILL NOT COMPROMISE ON NATO'S RIGHT TO PUT FORCES IN NEW MEMBER COUNTRIES AFTER ALLIANCE EXPANSION. VOA'S DAVID GOLLUST HAS DETAILS.

TEXT: THE SECRETARY WILL MEET RUSSIAN FOREIGN MINISTER YEVGENY PRIMAKOV IS MOSCOW NEXT THURSDAY IN AN EFFORT TO ADVANCE THE NEGOTIATIONS ON A CHARTER TO GOVERN RELATIONS BETWEEN RUSSIA AND AN EXPANDING NATO.

RUSSIAN LEADERS HAVE SAID THEY WANT TO BE ABLE TO SIGN THE DOCUMENT IN PARIS MAY 27TH -- WELL IN ADVANCE OF THE JULY SUMMIT IN MADRID AT WHICH NATO WILL CHOOSE NEW MEMBERS. BUT RUSSIA ALSO WANTS FIRM COMMITMENTS FROM NATO THAT IT WILL NOT PUT NUCLEAR WEAPONS OR ALLIANCE TROOPS IN NEW MEMBER COUNTRIES.

MS. ALBRIGHT TOLD A SENATE HEARING WEDNESDAY NATO HAS NO INTENTION OF MAKING SUCH DEPLOYMENTS, BUT WILL NOT MAKE IT A BINDING PLEDGE:

WE WILL NOT COMPROMISE ON THIS ISSUE. ALL WE HAVE DONE, AND ALL WE WILL DO IS TO RE-STATE EXISTING NATO POLICY: THAT IN THE CURRENT AND FORESEEABLE SECURITY ENVIRONMENT, WE HAVE NO INTENTION, NO PLAN AND NO REASON TO STATION NUCLEAR WEAPONS IN THE NEW MEMBER COUNTRIES. NO DO WE CONTEMPLATE PERMANENTLY STATIONING SUBSTANTIAL COMBAT FORCES.

STATE DEPARTMENT OFFICIALS SAY MS. ALBRIGHT WILL NOT MEET RUSSIAN PRESIDENT YELTSIN DURING HER BRIEF MOSCOW VISIT AND DOES NOT EXPECT TO GET A FINAL AGREEMENT ON THE CHARTER. (SIGNED)
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23-Apr-97 4:33 PM EDT (2033 UTC)
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Source: Voice of America

[02] BALKAN REFUGEES BY DOUGLAS ROBERTS (GENEVA)

INTRO: DELEGATES TO A HIGH-LEVEL MEETING IN GENEVA WEDNESDAY DISCUSSED WAYS TO SPEED THE RETURN OF REFUGEES FROM THE WAR IN BOSNIA. MORE THAN TWO-MILLION PEOPLE WERE UPROOTED FROM THEIR HOMES DURING THE CONFLICT. VOA'S DOUGLAS ROBERTS REPORTS THAT WHILE INITIAL HOPES FOR A SPEEDY REPATRIATION IN THE WAKE OF THE DAYTON PEACE ACCORD HAVE NOW FADED, U-N OFFICIALS ARE HOPEFUL THAT SUBSTANTIAL NUMBERS OF BOSNIANS WILL BE ABLE TO RETURN TO THEIR HOMES THIS YEAR.

TEXT: THE U-N REFUGEE AGENCY ESTIMATES THAT AROUND 200-THOUSAND BOSNIANS WILL RETURN TO THE COUNTRY THIS YEAR FROM VARIOUS EUROPEAN STATES. HIGH COMMISSIONER SADAKO OGATA SAYS THE MOVEMENT IS ALREADY WELL UNDER WAY.

IN THE FIRST THREE MONTHS OF THIS YEAR, DESPITE WINTER CONDITIONS, SOME 17-THOUSAND PEOPLE HAVE RETURNED; AN INDICATION THAT OUR PROJECTIONS FOR RETURN THIS YEAR MIGHT BE MET. THIS IS GOOD NEWS INDEED. HOWEVER, WE MUST BE CAUTIOUS IN OUR OPTIMISM. WELL OVER HALF THE REMAINING REFUGEES ORIGINATE FROM AREAS WHERE THEY WOULD NOW BE IN A MINORITY, SHOULD THEY RETURN. UNDER THE CURRENT CIRCUMSTANCES IN BOSNIA AND HERZEGOVINA, THEIR CAPACITY TO RETURN TO THEIR FORMER PLACE(S) OF RESIDENCE IS SEVERELY RESTRICTED.

MRS. OGATA WAS ADDRESSING WEDNESDAY'S MEETING HERE OF WHAT IS CALLED AS THE HUMANITARIAN ISSUES WORKING GROUP. IT INCLUDES ALL THE MAIN SPONSORS OF THE DAYTON PEACE ACCORD, ALONG WITH BOSNIAN, CROATIAN AND YUGOSLAV GOVERNMENT REPRESENTATIVES AND SENIOR U-N OFFICIALS.

AT ISSUE IS WHAT IS KNOWN AS "ANNEX SEVEN" OF THE DAYTON PLAN WHICH COMMITS ALL SIDES TO THE UNRESTRICTED RETURN OF THOSE FORCED FROM THEIR HOMES DURING THE THREE-AND-A-HALF YEARS OF WARFARE.

THE OVERALL FIGURE HAS DROPPED SUBSTANTIALLY SINCE THE PEACE AGREEMENT WAS SIGNED. BUT THAT DOES NOT MEAN THAT LARGE NUMBERS OF REFUGEES AND INTERNALLY-DISPLACED BOSNIANS HAVE GONE BACK TO THEIR ORIGINAL HOMES.

OF THOSE WHO HAVE CROSSED THE FORMER CONFRONTATION LINES, ALL BUT A HANDFUL HAVE RETURNED TO AREAS WHERE THEIR OWN ETHNIC GROUP IS IN THE MAJORITY.

IT IS IMPERATIVE THAT THE LINKAGE BETWEEN RETURNS AND RECONSTRUCTION BE MAINTAINED AND THAT DONORS SUPPORT AN INTEGRATED APPROACH LINKING, FOR EXAMPLE, SHELTER, INFRASTRUCTURE, EMPLOYMENT AND COMMUNITY SERVICES IN THOSE AREAS MOST LIKELY TO RECEIVE RETURNEES IN LARGE NUMBERS.

OFFICIALS AND DIPLOMATS INVOLVED IN THE IMPLEMENTATION OF THE BOSNIAN PEACE PLAN SAY BOTH THE GREATEST CHALLENGE AND THE GREATEST POTENTIAL THREAT REVOLVES AROUND THE FATE OF THE HUNDREDS OF THOUSANDS OF REFUGEES AND DISPLACED WHO, AT THIS POINT, HAVE LITTLE HOPE OF RETURNING TO THEIR HOMES.

THE LARGEST SINGLE GROUP IS MADE UP OF MUSLIMS EXPELLED FROM WHAT IS NOW SERB TERRITORY. //OPT// THERE ARE ALSO SUBSTANTIAL NUMBERS OF MUSLIMS AND CROATS UPROOTED DURING THE MUSLIM-CROAT WAR OF 1993. AND THERE ARE AN ESTIMATED QUARTER OF A MILLION BOSNIAN SERBS WHO HAVE TAKEN REFUGE IN NEIGHBORING YUGOSLAVIA.

MRS. OGATA POINTS OUT THAT MANY OF THESE PEOPLE HAVE NOT EVEN BEEN ABLE TO VISIT THEIR FORMER HOMES. AND SOME WHO HAVE GONE BACK HAVE FACED VIOLENT OPPOSITION.

THE HOPE IS FRAGILE AND THERE IS A CHILL WIND. ONE RETURNEE I SPOKE WITH HAD LOST HIS HOUSE A SECOND TIME AFTER RETURNING, WHEN IT WAS BLOWN UP. THESE ACTS OF SENSELESS PROVOCATION MUST CEASE. THE MESSAGE THEY SEND TO THE INTERNATIONAL COMMUNITY IS AN EXTREMELY NEGATIVE ONE AND DOES NOT REFLECT, I BELIEVE, THE WILL OF THE PEOPLE.

THE U-N OFFICIAL WARNED THAT IF THE FORMER WARRING FACTIONS CONTINUE TO BLOCK THE RETURN OF REFUGEES, THE CONSEQUENCES WILL BE EXTREMELY GRAVE, BOTH NOW AND IN THE FUTURE.

IF LARGE POPULATIONS CONTINUE TO BE DISPLACED, WHILE AT THE SAME TIME SIZABLE GROUPS WITH NO REALISTIC OPTION OF RETURNING TO THEIR FORMER HOMES ARE PREMATURELY RETURNED FROM ABROAD, TENSIONS WILL INEVITABLY MOUNT AND THERE IS THE RISK THAT VIOLENCE MAY RETURN.

IN THE IMMEDIATE AFTERMATH OF THE DAYTON ACCORD, U-N-H-C-R ISSUED OPTIMISTIC FORECASTS, PROJECTING AN IMMEDIATE, LARGE-SCALE RETURN OF REFUGEES.

THOSE PROJECTIONS HAVE BEEN TEMPERED NOW AMID WARNINGS FROM A GROWING NUMBER OF BOSNIAN AND FOREIGN OBSERVERS THAT THE REFUGEE ISSUE COULD YET PROVOKE ANOTHER WAR AFTER THE NATO PEACEKEEPING FORCE WITHDRAWS IN JUST OVER A YEAR'S TIME. (SIGNED)
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23-Apr-97 11:39 AM EDT (1539 UTC)
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Source: Voice of America

[03] COMPUTER CONCERNS BY ANDREW J. BAROCH (WASHINGTON)

INTRO: THE U-S CONGRESS IS CONSIDERING A TWO-BILLION DOLLAR, CLINTON ADMINISTRATION PLAN TO PUT COMPUTERS IN EVERY AMERICAN SCHOOL AND LINK THEM TO THE GLOBAL INFORMATION SERVICE KNOWN AS THE INTERNET BY THE YEAR 2000. BUT AS

TEXT: ACCORDING TO SOME ESTIMATES, THE COST OF OUTFITTING U-S ELEMENTARY AND SECONDARY SCHOOLS WITH COMPUTERS AND LINKING THEM TO THE INTERNET COULD ULTIMATELY REACH 10-BILLION DOLLARS OVER THE NEXT TEN YEARS.

LYNN FOX, A PROFESSOR OF EDUCATION AT AMERICAN UNIVERSITY IN WASHINGTON, D.C., BELIEVES THE EXPENSE IS WORTH IT. SHE NOTES THE INTERNET GIVES STUDENTS ACCESS TO THE SO-CALLED WORLDWIDE WEB AND ELECTRONIC MAIL, OR E-MAIL.

TAPE CUT ONE -- FOX (OPT) "WITH E-MAIL, YOU'RE LITERALLY TYPING A LITTLE LETTER AND YOU PUNCH A BUTTON THAT SENDS IT ELECTRONICALLY RATHER THAN THROUGH OUR TRADITIONAL MAIL SERVICE. (END OPT) CHILDREN CAN HAVE E-MAIL BUDDIES IN OTHER SCHOOL SYSTEMS IN OTHER STATES; IN SOME CASES, IN OTHER COUNTRIES. THEY CAN MAIL BACK AND FORTH. THE WEB PAGE IS MORE COMPLEX. YOU ACCESS THESE PAGES THAT MAY HAVE LINKS TO OTHER PEOPLE'S PAGES THAT SOMETIMES HAVE SCANNED-IN PICTURES. THEY MAY HAVE ANIMATED MOVEMENT. THEY MAY HAVE SOUND EFFECTS."

TEXT: BUT SOME OBSERVERS WORRY THAT LEARNING PRIMARILY THROUGH COMPUTERS MAY DISTRACT STUDENTS AND TEACHERS FROM THE CORE CURRICULUM. SINCE THE 1980'S, SCHOOLS HAVE EMPHASIZED BASIC SKILLS LIKE READING, WRITING, AND MATHEMATICS IN AN EFFORT TO REVERSE DECLINING ACADEMIC PERFORMANCE.

WILLIAM MCCARTHY, A PROFESSOR OF COMMUNICATION STUDIES AT CATHOLIC UNIVERSITY IN WASHINGTON, D.C., SAYS HE CAN SEE THE APPEAL IN WHAT HE CALLS COMPUTER "GADGETS."

TAPE CUT TWO -- MCCARTHY "THERE IS THE AMERICAN GIZMO FACTOR [LOVE OF GADGETS]. I LIKE A GADGET AS MUCH AS ANYBODY ELSE. I'LL FREELY ADMIT THAT. BUT I WOULDN'T WANT TO USE A GADGET JUST FOR ITS OWN SAKE. SO YOU HAVE TO HARNESS THAT LOVE OF NOVELTY AND LOVE OF A TRINKET TO THE GREATER, HIGHER PURPOSE SUPPOSEDLY OF TEACHING THE CHILDREN TO DEVELOP AUTONOMOUS MINDS, WHICH CAN THINK ON THEIR OWN. I THINK THAT'S THE HIGHEST GOAL OF TEACHING. IF THAT GETS LOST SOMEHOW IN ALL OF THIS FOLDEROL ABOUT GETTING AN INTERNET LINK, THAT'S UNFORTUNATE AND SHOULD BE AVOIDED AT ALL COST."

TEXT: BUT LYNN FOX OF AMERICAN UNIVERSITY POINTS OUT THAT THE INTERNET IS A PROVEN EDUCATIONAL TOOL.

TAPE CUT THREE -- FOX "A LOT OF PROFESSIONAL ORGANIZATIONS AND MOST UNIVERSITIES ARE INVOLVED IN THIS. YOU CAN GO ON -- WHAT THEY CALL 'GOING ON-LINE' THROUGH THE INTERNET. THERE ARE VARIOUS WHAT THEY CALL 'SEARCH ENGINES.' YOU CAN TYPE IN, 'I WANT TO KNOW MORE ABOUT THE BALD EAGLE.' YOU CAN TYPE IN BALD EAGLE, AND IT WILL SEARCH THROUGH ALL OF THESE ELECTRONIC SOURCES, AND IT WILL COME BACK WITH A LONG LIST, AND MANY OF THEM MAY BE UNIVERSITY SITES WHERE A PROFESSOR IS DOING A PROJECT ON THE BALD EAGLE, AND YOU CLICK ON THAT. THERE ARE ALL DIFFERENT KINDS OF THINGS YOU MAY FIND."

TEXT: MS. FOX CITES STUDENTS AT ONE WASHINGTON-AREA HIGH SCHOOL WHO WORK WITH SCIENTISTS AT A MAJOR UNIVERSITY. THE STUDENTS MONITOR A TANK OF ENDANGERED, TROPICAL FISH AND REPORT THEIR FINDINGS ON THE INTERNET.

TAPE CUT FOUR -- FOX "THEY'RE CONTRIBUTING TO THE WORLD'S INFORMATION BASE ON RAISING THESE ENDANGERED FISH. IT'S SO MOTIVATING TO THESE CHILDREN. ALL OF A SUDDEN THEY'VE LEARNED A WHOLE LOT ABOUT THE SCIENTIFIC METHODS. THEY'VE LEARNED A GREAT DEAL ABOUT FISH. IT'S CARRIED OVER TO OTHER KINDS OF UNITS THAT THE TEACHERS ARE GOING IN MATH AND SCIENCES ON WATER, CONSERVATION, ENVIRONMENTAL SCIENCE. IT'S JUST GROWN AND MUSHROOMED. SO THAT IN A SCHOOL THAT'S USED TO HAVE LESS THAN IDEAL ACHIEVEMENT AND ATTENDANCE, ALL OF A SUDDEN THEY'RE SEEING SOME TURNAROUND HERE AND SOME REAL EXCITEMENT AMONG STUDENTS AND EAGERNESS ABOUT COMING TO SCHOOL AND BEING INVOLVED IN THIS PROJECT; AND LEARNING HAS TAKEN ON A WHOLE NEW PERSPECTIVE FOR THESE CHILDREN."

TEXT: BUT OTHERS WORRY THAT AMERICAN EDUCATION IS IN A HEADLONG RUSH TO COMPUTERIZE. WILLIAM MCCARTHY OF CATHOLIC UNIVERSITY SAYS THAT, FOR ONE THING, MANY TEACHERS BARELY KNOW HOW TO WORK COMPUTERS.

TAPE CUT FIVE -- MCCARTHY "I WORK WITH THE PEOPLE AT MY DAUGHTER'S SCHOOL. I'M THEIR SORT OF TECHNICAL ADVISER IN THE SHADOWS, AND ONE OF THE PROBLEMS WITH THE TEACHERS, MAINLY, IS THAT THEY DON'T REALLY NOW HOW TO USE THE MACHINES. THE KIDS ARE MUCH SMARTER AT A TECHNICAL LEVEL. THEY KNOW MORE ABOUT THE GUTS OF THE MACHINE, HOW THE INTERFACE WORKS [HOW TO WORK THE COMPUTER] -- THAT SORT OF THING -- THAN THE TEACHERS DO FOR THE MOST PART."

TEXT: OTHER EDUCATORS ARE CONCERNED THAT THE ACQUIRING INFORMATION THROUGH COMPUTERS WILL COME TO BE EQUATED WITH LEARNING.

WRITING IN AN ACADEMIC JOURNAL, A COMPUTER SCIENTIST AT YALE UNIVERSITY NOTES THAT -- AS HE PUTS IT -- "OUR CHILDREN ARE BARELY ABLE TO HANDLE THE DATA THEY ALREADY HAVE -- THE DATABASES AND COMPUTER CD'S AND VIDEOTAPES AT MANY PUBLIC LIBRARIES, THE NEWSPAPERS THEY DON'T READ...THE OLD-FASHIONED BOOKS THEY IGNORE." DAVID GELERNTER (GUH-LERN-TER) OF YALE UNIVERSITY ADDS THAT -- AS HE SEES IT -- "OBVIOUSLY, THE WEB IS HERE TO STAY. BUT OUR SCHOOLS, ALONG WITH OUR HOMES, MUST NOT LET IT BECOME A SUBSTITUTE FOR STRUCTURED TEACHING, FOR ENCOURAGING OUR CHILDREN TO LOVE READING BOOKS, FOR INSISTING ON EFFECTIVE WRITING." (SIGNED)
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23-Apr-97 1:49 PM EDT (1749 UTC)
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Source: Voice of America

[04] EURO CURRENCY (L-ONLY) BY JOHN FRASER (BRUSSELS)

INTRO: THE EUROPEAN COMMISSION WEDNESDAY UNVEILED OPTIMISTIC ECONOMIC FORECASTS, SUGGESTING THAT 13 OF THE 15 EUROPEAN UNION GOVERNMENTS WILL QUALIFY FOR MEMBERSHIP OF EUROPE'S NEW SINGLE CURRENCY CALLED THE "EURO." THE FIGURES SHOW THAT ONLY ITALY AND GREECE WILL FAIL TO BRING THEIR BORROWING BELOW THE OFFICIAL TARGET CEILING OF THREE PERCENT OF GROSS DOMESTIC PRODUCT -- WHICH IS THE KEY CONDITION FOR JOINING. MORE FROM BRUSSELS AND REPORTER JOHN FRASER.

TEXT: WHILE THE FORECASTS SUGGEST THAT 13 E-U STATES WILL QUALIFY FOR THE NEW CURRENCY, THE CREDIBILITY OF THE INFORMATION WAS DENTED EVEN BEFORE IT WAS DELIVERED. ON MONDAY IN ROME, ITALIAN E-U COMMISSIONER EMMA BONINO ANGRILY ATTACKED THE FIGURES AS UNBALANCED, CLAIMING THE DATA FOR ITALY IS TOO PESSIMISTIC.

THE FIGURES WERE RELEASED NEARLY AN HOUR LATE IN BRUSSELS WEDNESDAY, AFTER COMMISSIONER BONINO HAD WHAT WAS DESCRIBED AS A BITTER EXCHANGE WITH EUROPE'S ECONOMICS COMMISSIONER, YVES THIBAULT DE SILGUY. BUT MR. DE SILGUY STOOD FIRM ON THE FIGURES, AND DEFENDED THE WAY IN WHICH THEY HAD BEEN PUT TOGETHER. HE ALSO SUGGESTED THAT THE EUROPEAN COMMISSION HAS A BETTER RECORD THAN MOST IN MAKING ACCURATE FORECASTS.

THE FIGURES SHOW THAT ALTHOUGH MOST E-U STATES ARE EXPECTED TO MEET THE BUDGET DEFICIT TARGET OF THREE PERCENT OF G-D-P, ONLY A MINORITY WILL MEET ANOTHER IMPORTANT CRITERION FOR MEMBERSHIP OF THE EURO CLUB -- NAMELY, THAT NATIONAL DEBT FALL BELOW 60 PERCENT OF G-D-P, OR AT LEAST BE HEADING TOWARD THAT GOAL. //OPT// ONLY FRANCE, BRITAIN, LUXEMBOURG AND FINLAND HAVE A DEBT FIGURE FORECAST WHICH IS BELOW THE EU TARGET OF 60 PERCENT. //END OPT//

MR. DE SILGUY STRESSED THAT WHEN DECISIONS ARE MADE ON WHICH COUNTRIES SHOULD QUALIFY FOR THE EURO CURRENCY, THIS YEAR'S FIGURES WILL NOT BE TAKEN IN ISOLATION, AS COUNTRIES WILL HAVE TO SHOW THAT THEY ARE ON THE ROAD TO PERMANENT ECONOMIC STABILITY. OVERALL, HE SAID THAT THE EUROPEAN ECONOMY IS IMPROVING BECAUSE GROWTH IS CLIMBING. BUT THE EUROPEAN ECONOMICS COMMISSIONER WARNS THAT THERE IS LITTLE ROOM FOR MANEUVER IN NATIONAL BUDGETS.

THE MAJOR RISK TO THE "EURO" NOT BEING LAUNCHED ON TIME IN 1999 LIES IN THE TEMPTATION FOR INDIVIDUAL GOVERNMENTS TO RELAX THEIR ECONOMIC POLICIES.

BUT MR. DE SILGUY SAYS THAT IF THE EURO PROVES SUCCESSFUL, HE PREDICTS IT WILL, IN TIME, COME TO RIVAL THE DOLLAR. MEANWHILE, DEBATE OVER THE PLANNED SINGLE CURRENCY IS GATHERING PACE IN EUROPE. IT IS ALREADY MAJOR ISSUE IN THE BRITISH GENERAL ELECTION CAMPAIGN, AND IS ALSO EXPECTED TO FLARE UP AS AN ISSUE IN THE UPCOMING FRENCH ELECTIONS. (SIGNED)
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23-Apr-97 11:17 AM EDT (1517 UTC)
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Source: Voice of America

[05] EURO STOCKS (S ONLY) BY JACK HUIZENGA (LONDON)

INTRO: STOCK PRICES ROSE SHARPLY IN TRADING WEDNESDAY IN MAJOR EUROPEAN MARKETS. V-O-A'S JACK HUIZENGA REPORTS FROM LONDON.

TEXT: PRICES WERE UP IN ALL THREE MAJOR EUROPEAN MARKETS -- LONDON, PARIS, AND FRANKFURT.

THE BIGGEST GAIN WAS IN FRANKFURT. THE DAX-30 INDEX ENDED THE TRADING DAY UP ALMOST 56-POINTS -- MORE THAN ONE-AND-SIX-TENTHS PERCENT. THE RISE CONTINUED IN LATER COMPUTERIZED TRADING. IN LONDON, EUROPE'S BIGGEST MARKET, THE FOOTSIE-100 INDEX ROSE MORE THAN 41-POINTS -- ALMOST ONE-PERCENT.

PRICES ALSO WERE UP IN PARIS. THE CAC-40 INDEX GAINED ALMOST 19-POINTS, MORE THAN SEVEN-TENTHS-PERCENT.

SMALLER EUROPEAN MARKETS ALSO ROSE -- INCLUDING AMSTERDAM AND ZURICH. AND MADRID REACHED AN ALL-TIME HIGH.

ON THE LONDON CURRENCY EXCHANGE, THE U-S DOLLAR GAINED IN VALUE AGAINST THE THE JAPANESE YEN AND THE BRITISH POUND. BUT IT LOST VALUE AGAINST THE GERMAN MARK..
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23-Apr-97 2:03 PM EDT (1803 UTC)
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Source: Voice of America

[06] N-Y ECON WRAP (S & L) BY BRECK ARDERY (NEW YORK)

INTRO: STOCK PRICES IN THE UNITED STATES WERE DOWN TODAY (WEDNESDAY) IN SOME MILD PROFIT-TAKING AFTER TUESDAY'S BIG RALLY. V-O-A'S CORRESPONDENT BRECK ARDERY REPORTS FROM NEW YORK.

TEXT: THE DOW JONES INDUSTRIAL AVERAGE CLOSED AT 68 HUNDRED 12, DOWN 20 POINTS. THE BROADER AND MORE REPRESENTATIVE STANDARD AND POOR'S 500 INDEX CLOSED AT 773, DOWN ONE POINT.

ANALYSTS SAY SOME PROFIT-TAKING WAS TO BE EXPECTED AFTER TUESDAY'S SPECTACULAR 173 POINT RISE IN THE INDUSTRIAL AVERAGE.

IN BUSINESS NEWS, THE HEWLETT-PACKARD COMPANY IS MAKING A MOVE TO BECOME A FORCE ON THE COMPUTER INTERNET BY ACQUIRING THE VERIFONE CORPORATION FOR ALMOST ONE POINT TWO BILLION DOLLARS. HEWLETT-PACKARD IS A MAJOR PRODUCER OF COMPUTER HARDWARE AND VERIFONE IS THE LEADER IN ELECTRONIC PAYMENT SYSTEMS USED ON THE INTERNET. I-B-M, THE WORLD'S LARGEST COMPUTER COMPANY, REPORTED QUARTERLY EARNINGS OF TWO DOLLARS AND 37 CENTS PER SHARE, SIGNIFICANTLY AHEAD OF WALL STREET ESTIMATES.

AS EXPECTED, THE QUAKER OATS COMPANY REPORTED AN ENORMOUS QUARTERLY LOSS OF ONE POINT ONE BILLION DOLLARS. BUT ALL OF QUAKER'S LOSS WAS RELATED TO ITS SALE OF THE SNAPPLE BEVERAGE DIVISION. ANALYSTS AGREE QUAKER GROSSLY OVERPAID WHEN IT ACQUIRED SNAPPLE TWO YEARS AGO.

STRONG PERFORMANCE BY THE WALT DISNEY COMPANY'S THEME PARKS AND SOME HIT MOVIES SUCH AS THE "ENGLISH PATIENT" HELPED BOOST ITS QUARTERLY PROFITS BY 63 PERCENT.

THE U-S AIRWAYS COMPANY SURPRISED WALL STREET WITH A RECORD QUARTERLY PROFIT OF 153 MILLION DOLLARS, WELL BEYOND ANALYSTS' EXPECTATIONS. U-S AIRWAYS STOCK GAINED 16 PERCENT.

FEDERAL AND STATE AUTHORITIES HAVE BEGUN AN INVESTIGATION INTO ALLEGEDLY FRAUDULENT DEBT COLLECTION PRACTICES BY THE SEARS ROEBUCK COMPANY, THE SECOND-LARGEST RETAILER IN THE UNITED STATES. SEARS IS ACCUSED OF ILLEGALLY COLLECTING DEBTS FROM CONSUMERS WHOSE DEBTS HAD BEEN CANCELLED UNDER U-S BANKRUPTCY LAWS. AUTHORITIES WANT TO DETERMINE IF OTHER RETAILERS HAVE ENGAGED IN THE SAME PRACTICE.(SIGNED) NEB/NY/BA/LSF/PT
23-Apr-97 4:55 PM EDT (2055 UTC)
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Source: Voice of America

[07] U-S / E-U MEAT TALKS (L-ONLY) BY VICTOR BEATTIE (WASHINGTON)

INTRO: THE UNITED STATES AND THE EUROPEAN UNION TUESDAY RE-OPENED WHAT ARE LIKELY TO BE LAST-DITCH TALKS IN WASHINGTON IN AN EFFORT TO RESOLVE A DISPUTE OVER MEAT INSPECTION RULES. V-O-A'S VICTOR BEATTIE REPORTS U-S AGRICULTURE SECRETARY DAN GLICKMAN SAYS THERE WILL BE NO EXTENSIONS OF THE APRIL 30TH DEADLINE, WHICH COULD RESULT IN A TRADE WAR.

TEXT: THE MAIN OUTSTANDING ISSUE IN THE NEGOTIATIONS COVERING MEAT, POULTRY AND DAIRY PRODUCTS CONCERNS THE PROCESS OF POULTRY DECONTAMINATION. THE EUROPEAN UNION SAYS THE U-S APPROVED METHOD OF CLEANING CHICKEN CARCASSES BY DIPPING THEM IN CHLORINATED WATER IS UNACCEPTABLE.

E-U FARM COMMISSIONER FRANZ FISCHLER SAYS THERE WILL BE NO COMPROMISE ON THIS CONSUMER HEALTH ISSUE. SINCE APRIL FIRST, THE FIRST DEADLINE FOR REACHING AGREEMENT, ABOUT 55-MILLION DOLLARS IN AMERICAN POULTRY PRODUCTS HAVE BEEN DENIED ENTRY INTO THE E-U MARKET. THAT IS WHEN NEW E-U INSPECTION RULES TOOK EFFECT.

WASHINGTON HAS THREATENED TO RETALIATE BY BLOCKING ENTRY TO ABOUT 300-MILLION DOLLARS IN E-U MEAT PRODUCTS. AN EXTENSION WAS GIVEN TO APRIL 15TH AND THEN, LAST WEEK, IT WAS EXTENDED TO APRIL 30TH TO REACH WHAT IS CALLED AN "EQUIVALENCY AGREEMENT" ON INSPECTION STANDARDS. ON MONDAY, SECRETARY GLICKMAN TOLD JOURNALISTS IN WASHINGTON THERE WOULD BE NO FURTHER EXTENSIONS FOR NEGOTIATIONS.

WE OBVIOUSLY HAVE SOME CLEAR AND SERIOUS DIFFERENCES WITH THE EUROPEANS. WE THOUGHT THERE WAS A CHANCE FOR RESOLVING THIS ISSUE WITHOUT SOME FORM OF A SERIOUS LONG-TERM TRADE DISRUPTION, WHICH COULD SPILL OVER INTO NON-AGRICULTURAL AREAS AS WELL. PART OF THE MATTERS WE HAVE WORKED OUT FAIRLY WELL; THE OTHER PART WE HAVEN'T.

WASHINGTON AND BRUSSELS HAVE AGREED ON SANITARY METHODS FOR RED MEAT, BUT THE RINSING OF POULTRY REMAINS AN OBSTACLE. E-U EXPORTS OF MEAT TO THE U-S MARKET ARE MOSTLY PORK, THE VAST MAJORITY OF WHICH IS DANISH BACON AND PORK PRODUCTS.

MR. FISCHLER SAYS THE EUROPEAN UNION FACES GROWING FARM SURPLUSES, ESPECIALLY IN CEREALS AND MEAT DURING THE NEXT 10 YEARS. CEREALS ARE EXPECTED TO SOAR TO 58-MILLION TONS, INCLUDING 45-MILLION TONS OF WHEAT, WHILE BEEF STOCKS WERE SEEN CLIMBING TO ONE AND ONE-HALF MILLION TONS FOLLOWING LAST YEAR'S 'MAD COW' CRISIS.

IN A RELATED DEVELOPMENT, U-S AGRICULTURE DEPARTMENT OFFICIAL AUGUST SCHUMACHER SAYS THE AMERICAN FARM INDUSTRY MUST FOCUS EVEN MORE ON FOREIGN MARKETS FOR GROWTH. HE SAYS THE U-S MARKET GROWTH POTENTIAL FOR NOW IS FLAT. U-S AGRICULTURAL EXPORTS TOTALED NEARLY 60-BILLION DOLLARS LAST YEAR, A RECORD, AND THE 37TH CONSECUTIVE YEAR OF SURPLUSES. (SIGNED)
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22-Apr-97 7:47 PM EDT (2347 UTC)
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Source: Voice of America

[08] WEDNESDAY'S EDITORIALS BY ANDREW N. GUTHRIE (WASHINGTON)

INTRO: THE PENDING VOTE ON RATIFICATION OF THE CHEMICAL WEAPONS TREATY IN THE U-S SENATE IS A MAJOR TOPIC ACROSS THE EDITORIAL PAGES OF MANY PAPERS THIS WEDNESDAY.

OTHER SUBJECTS INCLUDE TUESDAY'S PERUVIAN ATTACK THAT LIBERATED MORE THAN 70 HOSTAGES; THE DALAI LAMA'S VISIT TO WASHINGTON, A LEGAL DECISION AFFIRMING WOMEN'S SPORTS, AND A REMEMBRANCE OF WILLIAM SHAKESPEARE ON HIS BIRTHDAY.

NOW, HERE WITH A CLOSER LOOK IS __________________ AND TODAY'S EDITORIAL DIGEST.

TEXT: MANY PAPERS ARE URGING THE U-S SENATE TO RATIFY THE CHEMICAL WEAPONS TREATY, WHILE OTHERS OPPOSE IT. SEVERAL ARE WRITING SPECIFIC EDITORIAL CHALLENGES TO THEIR SENATORS. TODAY'S MINNEAPOLIS [MINNESOTA] STAR TRIBUNE, HAS A LONG EDITORIAL, URGING THE STATE'S JUNIOR SENATOR, ROD GRAMS [R-MINN.], TO VOTE FOR THE TREATY. AT PRESENT, HE IS LEANING AGAINST IT. SAYS THE STAR TRIBUNE:

VOICE: "THE CHEMICAL WEAPONS CONVENTION ... A TREATY BANNING CHEMICAL WEAPONS, COMES TO THE SENATE FLOOR THURSDAY FOR A VOTE. BECAUSE IT NEEDS A TWO-THIRDS VOTE TO WIN APPROVAL, AND BECAUSE THE TREATY HAS BEEN DEMONIZED BY THE POLITICAL RIGHT, THE OUTCOME IS IN DOUBT. IT SHOULDN'T BE. ..... ALL [MR.] GRAMS' POINTS ARE NON-ISSUES ..... [SENATOR] GRAMS CAN HAVE NO JUSTIFIABLE REASON FOR VOTING IN OPPOSITION .... NOR SHOULD HE SEEK TO HIDE BEHIND KILLER AMENDMENTS."

TEXT: THE ATLANTA CONSTITUTION IS RUNNING A SIMILAR EDITORIAL URGING GEORGIA'S SENIOR SENATOR, PAUL COVERDELL [R-GA.], TO DROP HIS OPPOSITION.

VOICE: ".... SENATOR ... COVERDELL, LIKE TOO MANY OF HIS REPUBLICAN COLLEAGUES, INDICATES HE MAY ONLY SUPPORT THE ACCORD IF CERTAIN AMENDMENTS ARE TACKED TO IT. [MR.] COVERDELL KNOWS BETTER. .... THIS EFFORT BY ULTRACONSERVATIVES TO 'IMPROVE' THE TREATY WITH THESE KILLER AMENDMENTS IS NOTHING BUT A TRANSPARENT MANEUVER TO BLOCK U-S PARTICIPATION."

TEXT: BUT NOT ALL PAPERS FAVOR THE TREATY. CALLING IT "FLAWED", TODAY'S NEW YORK POST SUMS UP ITS JUDGEMENT THIS WAY:

VOICE: "THE TREATY IS FUNDAMENTALLY UNVERIFIABLE. THIS MEANS THAT IT IS PRECISELY THE ROGUE GOVERNMENTS - - NOT THE LAW-ABIDING ONES, AND MOST PARTICULARLY NOT THE U-S - - WHAT WILL SEEK TO EVADE ITS PROVISIONS. ...... THERE IS NO GOOD REASON FOR THE SENATE TO RATIFY A TREATY AS FLAWED AS THE C-W-C. WITHOUT AMERICAN PARTICIPATION, NO SERIOUS CHEMICAL-WEAPONS PACT IS ENFORCEABLE. IF THE CLINTON ADMINISTRATION WANTS TO BE TOUGH-MINDED ABOUT ARMS CONTROL, LET IT GO BACK TO THE DRAWING BOARD. THE QUITE GENUINE THREATS POSED BY CHEMICAL WEAPONS MAKE THE TIME AND EFFORT OF ANOTHER ROUND OF NEGOTIATIONS WORTHWHILE."

TEXT: SENATOR JESSE HELMS [R-N.C.], HEAD OF THE SENATE FOREIGN RELATIONS COMMITTEE, WRITES IN THE WASHINGTON POST THAT THERE ARE NUMEROUS REASONS WHY THE CWC IS "WORSE THAN NOTHING".

VOICE: "THERE ARE AMPLE, SOLID REASONS FOR THE SENATE TO REJECT THE CHEMICAL WEAPONS CONVENTION [CWC]..BUT THE ONE ISSUE THAT HAS RAISED THE GREATEST CONCERN AMONG SENATORS--THE ISSUE ON WHICH THE RATIFICATION VOTE WILL ALMOST CERTAINLY HINGE--IS THE CLINTON ADMINISTRATION'S REFUSAL TO MODIFY THE TREATY'S ARTICLES 10 AND 11. THESE CONTROVERSIAL PROVISIONS REQUIRE THE TRANSFER OF DANGEROUS CHEMICAL AGENTS, DEFENSIVE GEAR AND KNOW-HOW TO ANY NATION THAT JOINS THE CWC--INCLUDING TERRORIST STATES SUCH AS IRAN AND CUBA, AND KNOWN PROLIFERATORS SUCH AS RUSSIA AND CHINA...IF [THE ADMINISTRATION] INSISTS THAT THE SENATE VOTE ON THE TREATY WITH ARTICLES 10 AND 11 INTACT, IT WILL BE INVITING THE SENATE TO REJECT THE TREATY ENTIRELY--AND THE SENATE SHOULD DO SO."

TEXT: THE NEW YORK TIMES SAYS "THERE ARE NO GOOD REASONS FOR ANY SENATOR TO VOTE AGAINST .... THE ..... CONVENTION .... AND LASTLY ON THIS TOPIC, IN FLORIDA, THE MIAMI HERALD, WITH A LEAD EDITORIAL HEADLINE INSISTING THE "SENATE MUST RATIFY [THE] TREATY" EXPLAINS:

VOICE: "THE U-S SENATE CAN TAKE A SMALL STEP TOMORROW TOWARD MAKING THE WORLD A SAFER, SANER PLACE. IT SHOULD TAKE THAT STEP BY RATIFYING THE CHEMICAL WEAPONS CONVENTION, WHICH COMMITS MEMBER NATIONS TO DESTROY CHEMICAL WEAPONS AND TO BAN THEIR FUTURE USE. .... DEFEAT WOULD BE A SHAME, FOR IT WOULD PLACE THE UNITED STATES IN THE COMPANY OF A SMALL BAND OF PARIAH NATIONS, INCLUDING LIBYA, NORTH KOREA, AND IRAQ."

TEXT: TURNING TO THE OTHER DOMINANT TOPIC OF THE DAY, THE U-S PRESS IS COMMENTING ON THE PERUVIAN ARMY'S ASSAULT ON THE JAPANESE AMBASSADOR'S RESIDENCE IN LIMA TO FREE THE 72 HOSTAGES HELD SINCE BEFORE CHRISTMAS. SOME 71 WERE RESCUED, ONE DIED ALONG WITH ALL THE GUERRILLAS, AND TWO PERUVIAN SOLDIERS WERE ALSO KILLED.

SAYS THE LOS ANGELES TIMES:

VOICE: "PERU'S GOVERNMENT GAMBLED, AND IT WON. .... CLEARLY CAREFULLY REHEARSED, THE RESCUE MISSION ... ACHIEVED TACTICAL SURPRISE AND ACCOMPLISHED ITS GOAL. .....THE WORLD CAN REJOICE IN THAT FREEDOM. .... [HOWEVER] A .... DEMAND BY THE REBELS NOW DESERVES WORLD ATTENTION, NOT BECAUSE THEY MADE IT BUT BECAUSE RESPECT FOR CIVILIZED NORMS REQUIRES IT. BY EVERY INDEPENDENT ACCOUNT, PRISON CONDITIONS IN PERU, ESPECIALLY FOR THOSE CONVICTED OF POLITICAL CRIMES, ARE APPALLING. .....THE GOVERNMENT OF PERU HAS WON A MAJOR VICTORY. IT IS TIME NOW IF NOT FOR MAGNANIMITY THEN [FOR] SIMPLE DECENCY IN THE TREATMENT OF ITS PRISONERS."

TEXT: THE NEW YORK POST CALLS IT A "VICTORY OVER TERRORISM THAT THE WHOLE WORLD CAN CELEBRATE," WHILE THE BOSTON GLOBE, LESS ENTHUSIASTIC, CALLS THE ATTACK PROBABLY "INEVITABLE," AND ADDS:

VOICE: "NO GOVERNMENT CAN INDEFINITELY TOLERATE A PROTRACTED STANDOFF THAT ENDANGERS THE HEALTH AND LIVES OF SO MANY PEOPLE. [OPT] AND THE GOVERNMENT OF PRESIDENT ALBERTO FUJIMORI KNEW ITS HARD LINE AGAINST TERRORISM HAD POPULAR SUPPORT. [END OPT] NEVERTHELESS, IT IS ALWAYS DISPIRITING TO WITNESS A FAILURE OF EFFORTS TO ACHIEVE A RATIONAL RESOLUTION TO A CONFLICT. [OPT] .....IN THE AFTERMATH ... IT MIGHT BE WISE FOR PERUVIAN AUTHORITIES TO REFLECT ON THEIR NEED TO ADDRESS THE SOCIAL TENSIONS THAT NOURISH MOVEMENTS SUCH AS THE TUPAC AMARU." [END OPT]

TEXT: WITH THE DALAI LAMA IN WASHINGTON, THE LOS ANGELES TIMES IS PLEASED PRESIDENT CLINTON WILL MEET WITH HIM TODAY [4/23].

VOICE: "THOUGH CHINA IS PREDICTABLY IN A SNIT [BAD MOOD] ABOUT IT, PRESIDENT CLINTON'S DECISION TO MEET .... WITH THE EXILED DALAI LAMA IS A NECESSARY REAFFIRMATION OF SUPPORT FOR THE ASPIRATIONS OF SIX MILLION TIBETANS LIVING RESTIVELY UNDER BEIJING'S OPPRESSIVE RULE. [OPT] INDEED, IT WOULD BE BOTH A BREACH OF COURTESY AND AN ACT OF POLITICAL TIMIDITY IF [MR.] CLINTON CHOSE TO IGNORE THE PRESENCE OF THE DALAI LAMA UNDER HIS OWN ROOF." [END OPT]

TEXT: AND STILL ON ASIAN TOPICS, THE NEW YORK TIMES IS HAILING PRESIDENT CLINTON'S DECISION TO INVOKE A LAW PASSED NINE MONTHS AGO BY CONGRESS BANNING NEW U-S INVESTMENT IN BURMA BECAUSE OF THE HUMAN RIGHTS CONDITION THERE. THE TIMES SAYS:

VOICE: "ALTHOUGH THE UNITED STATES STANDS ALONE FOR THE MOMENT, THESE SANCTIONS CAN STILL HELP CHANGE THINGS IN MYANMAR, FORMERLY KNOWN AS BURMA. .... THE PRESIDENT'S DECISION SENDS AN IMPORTANT SIGNAL TO DICTATORS WORLDWIDE ..."

TEXT: HAILING A DECISION THIS WEEK BY THE SUPREME COURT REAFFIRMING THE FEDERAL LAW GUARANTEEING EQUALITY FOR WOMEN IN COLLEGE SPORTS, THE WASHINGTON POST SAYS:

VOICE: " [OPT] IN LESS THAN A GENERATION, GIRLS AND YOUNG WOMEN HAVE BEEN AFFORDED OPPORTUNITIES THAT HAD NOT BEEN AVAILABLE BEFORE TO PURSUE COMPETITIVE SPORTS AND EXCEL IN THEM. ONE RESULT OF THIS CHANGE IS THAT FEMALE AMERICAN ATHLETES AT THE INTERNATIONAL GAMES WON NINE OF THE ELEVEN U-S MEDALS AT THE 1990 WINTER GAMES, AND NINE OF 13 FOUR YEARS LATER. [END OPT]....... [THE LAW] HAS HAD AN IMPACT NOT ONLY ON ATHLETES BUT ON THEIR NONPLAYING PEERS AND GIRLS WHO ARE TOO YOUNG TO COMPETE BUT OLD ENOUGH TO ABSORB THE IDEA THAT WOMEN CAN COMPETE AND WIN IN ALL SORTS OF ARENAS."

TEXT: AND FINALLY, A BIRTHDAY GREETING FROM MAINE'S PORTLAND PRESS HERALD, FOR THE IMMORTAL BARD, WILLIAM SHAKESPEARE. THE PAPER ALSO CELEBRATES THE EVENT WITH CAKE AND PUNCH IN THE EDITORIAL PAGE OFFICES, WHERE EARLIER THEY WROTE:

VOICE: "MAKE A SUPERLATIVE CLAIM ABOUT ANY OTHER LITERARY FIGURE IN HISTORY AND YOU MAY GET SOME DISPUTE. SAY THAT SHAKESPEARE WAS THE WORLD'S GREATEST PLAYWRIGHT, AND NONE WILL CONTEST IT ..... BECAUSE THE PLAYS AND POEMS HE WROTE ARE TIMELESS .... THIS IS WHY WE HONOR HIM EVERY YEAR, IN WORD AND EVENT."

TEXT: AND WITH THAT, WE CONCLUDE THIS BRIEF SAMPLING OF EDITORIALS FROM WEDNESDAY'S U-S PRESS.
NEB/ANG/NL
23-Apr-97 11:12 AM EDT (1512 UTC)
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Source: Voice of America

[09] WORLD BANK MEETS (L-ONLY) BY BILL WYATT (WASHINGTON)

INTRO: THE 1997 SPRING MEETINGS OF THE WORLD BANK AND INTERNATIONAL MONETARY FUND ARE UNDERWAY IN WASHINGTON. ECONOMICS EDITOR BILL WYATT REPORTS THE OPENING SESSION (WEDNESDAY) WAS DEVOTED TO THE GROUPS' ANNUAL RELEASE OF ITS WORLD ECONOMIC OUTLOOK.

TEXT: THE FOCUS OF THIS YEAR'S REPORT IS ECONOMIC GLOBALIZATION, REFERRING TO THE GROWING ECONOMIC INTERDEPENDENCE OF COUNTRIES WORLDWIDE. GLOBALIZATION, STILL A RATHER NEW CONCEPT, PRESENTS NEW OPPORTUNITIES AND CHALLENGES AS MORE COUNTRIES SEEK BUSINESS DEVELOPMENT OUTSIDE THEIR BORDERS.

BUT THERE IS INCREASING CONCERN COMPETITION FROM LOW-WAGE ECONOMIES WILL DISPLACE WORKERS FROM HIGH-WAGE MANUFACTURING JOBS AND DEPRESS LIVING STANDARDS IN ADVANCED ECONOMIES.

IN ANY CASE, SAYS I-M-F RESEARCH DIRECTOR MICHEAL MUSSA, GLOBALIZATION -- WHILE IMPORTANT -- IS NOT THE ABSOLUTE SOLUTION TO RAISING WORLDWIDE LIVING STANDARDS.

A KEY, IN FACT THE MOST IMPORTANT DRIVING FORCE BEHIND THE ADVANCE IN REAL LIVING STANDARDS ON A BROAD FRONT IS THE IMPROVEMENT IN TECHNOLOGY.

MR. MUSSA SAYS THE MAIN STORY IN TERMS OF HAVING SUCCESS THROUGH GLOBALIZATION LIES IN TECHNOLOGICAL PROGRESS.

THOSE COUNTRIES WHO HAVE PROVIDED AN ENVIRONMENT IN WHICH BUSINESS FIRMS AND INDIVIDUALS CAN TAKE ADVANTAGE OF THE OPPORTUNITIES THAT ARE PRESENTED BY ADVANCING TECHNOLOGIES, AND BY THE OPPORTUNITIES TO TRADE IN GLOBAL MARKETS MOST EFFECTIVELY, HAVE ENJOYED THE MOST RAPID RISE IN THEIR LIVING STANDARDS.

THAT SEEMS TO BE THE CENTRAL MESSAGE OF THIS YEAR'S WORLD ECONOMIC OUTLOOK -- CONTINUED GLOBALIZATION IS INEVITABLE, BUT THE CHANGE IT ENTAILS, ESPECIALLY TECHNOLOGICAL CHANGE, IS PROGRESS. (SIGNED
NEB/WW/RAE
23-Apr-97 11:43 AM EDT (1543 UTC)
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Source: Voice of America

[10] WORLD ECONOMIC OUTLOOK (S-ONLY) BY BILL WYATT (WASHINGTON)

INTRO: THE WORLD BANK AND INTERNATIONAL MONETARY FUND HAVE RELEASED THEIR JOINT ANNUAL REPORT, KNOWN AS THE WORLD ECONOMIC OUTLOOK. ECONOMICS EDITOR BILL WYATT REPORTS THE SURVEY INDICATES WORLD ECONOMIC GROWTH PICKED UP DURING 1996 AND THAT GLOBAL EXPANSION WILL CONTINUE THIS YEAR.

TEXT: I-M-F RESEARCH DIRECTOR MICHAEL MUSSA SAYS THAT, OVER THE NEXT TWO YEARS, WORLD OUTPUT WILL BE GROWING JUST ABOVE A FOUR PER CENT RATE, SLIGHTLY HIGHER THAN THE 1996 RATE. IN ADDITION, INFLATION IS EXPECTED TO REMAIN VERY LOW IN THE INDUSTRIAL COUNTRIES -- AT TWO AND ONE HALF PER CENT ON AVERAGE -- THE LOWEST INFLATION RATE IN ABOUT THREE DECADES.

MR. MUSSA SAYS GROWTH IN DEVELOPING COUNTRIES IS AGAIN EXPECTED TO BE QUITE STRONG -- AT A RATE OF SIX AND ONE HALF PER CENT, THE SAME RATE AS 1996, WITH GROWTH IN ASIA SUSTAINING OVER AN EIGHT PER CENT PACE. HE SAYS LATIN AMERICA WILL CONTINUE TO STRENGTHEN ITS RECOVERY THAT BEGAN IN 1996.

AS FOR TRANSITION COUNTRIES -- THOSE WHO ARE CURRENTLY TRANSFORMING THEIR ECONOMIES.....

.......MOST OF THEM HAVE MADE THE TRANSITION TO POSITIVE GROWTH AND WE EXPECT MORE TO DO SO DURING THE COURSE OF 1997.

THAT TRANSLATES, SAYS THE I-M-F RESEARCH DIRECTOR, TO GROWTH RATES OF THREE PER CENT THIS YEAR AND FIVE PER CENT NEXT YEAR. (SIGNED)
EB/WW/KL
23-Apr-97 12:41 PM EDT (1641 UTC)
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Source: Voice of America

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