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Voice of America, 00-07-11

Voice of America: Selected Articles Directory - Previous Article - Next Article

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


CONTENTS

  • [01] E-U / CHINA (L-ONLY) BY RON PEMSTEIN (BRUSSELS)
  • [02] NY ECON WRAP (S&L) BY ELAINE JOHANSON (NEW YORK)

  • [01] E-U / CHINA (L-ONLY) BY RON PEMSTEIN (BRUSSELS)

    DATE=7/11/2000
    TYPE=CORRESPONDENT REPORT
    NUMBER=2-264310
    CONTENT=
    VOICED AT:

    INTRO: Chinese Prime Minister Zhu Rongji has finished a six-country tour of Europe by visiting the headquarters of the European Commission in Brussels. Ron Pemstein reports from Brussels on the first visit by a Chinese leader.

    TEXT: As a direct result of the death of 58 Chinese citizens last month at the British port of Dover, China and the European Union have agreed to work together to stop the illegal smuggling of aliens to Europe. Prime Minister Zhu Rongji, speaking through an interpreter at European Commission headquarters, says China has laws to prevent this crime.

    /// ZHU ACT W/ INTERPRETER ///

    China is resolutely opposed to illegal emigration. We have formulated strict legislation and adopted strict measures in order to stop such crimes as illegal emigration and the smuggling of aliens.

    /// END ACT ///

    But a reporter pointed out to the Chinese Prime Minister that the laws in his country are not being respected so long as illegal Chinese immigration continues to flood into Europe. Prime Minister Zhu took offense.

    /// ZHU ACT W/ INTERPRETER ///

    Can you guarantee that each and every law of your country can be 100-percent effective? No country in the world is able to guarantee that. But we are actually trying our best to make sure that the laws are abided by.

    /// END ACT ///

    A European Commission official says Prime Minister Zhu and Commission President Romano Prodi agreed on the need to cooperate against organized crime and illegal smuggling. The Commission official says details of this political agreement must be worked out. The commission could organize officials from its 15-member states to work with their Chinese counterparts. Prime Minister Zhu and President Prodi discussed China's accession to the World Trade Organization, as well as the prospects that Taiwan will join the trade body at the same time, around New Year's Day.

    /// OPT ///

    Commission spokesman Gunnar Wiegand says President Prodi was interested to hear the Prime Minister's views on Taiwan.

    /// WIEGAND ACT // OPT ACT ///

    The Chinese Prime Minister made an interesting remark by saying if the "one-China-two-systems" approach would be applied to Taiwan one day, and that would happen only once the Taiwanese accepted there is just one-China fully, but once this was done the process would look different than the process with Hong Kong and Macao. In other words, greater autonomy for Taiwan, and that is an interesting element.

    /// END ACT // END OPT ///

    The European Union recognizes one China - the government in Beijing - but President Prodi expressed E-U interest in maintaining economic relations with the authorities in Taiwan. Mr. Wiegand says the two sides agreed on the desirability of reconciliation on the Korean peninsula. On human rights, Mr. Prodi expressed the Commission's concerns, but a spokesman says the Prime Minister only listened. (SIGNED) NEB/RP/GE/AMAHL/RAE 11-Jul-2000 12:00 PM EDT (11-Jul-2000 1600 UTC)
    NNNN
    Source: Voice of America

    [02] NY ECON WRAP (S&L) BY ELAINE JOHANSON (NEW YORK)

    DATE=7/11/2000
    TYPE=CORRESPONDENT REPORT
    NUMBER=2-264322
    CONTENT=

    INTRO: U-S stock prices were mixed today (Tuesday), with investors worried about lower earnings in the technology sector. VOA correspondent Elaine Johanson reports from New York:

    TEXT: An early triple-digit rally for the "blue- chips" fizzled due to strong pressure from technology stocks. But the Dow Jones Industrial Average managed to close 80 points higher, three-quarters of one percent, at 10-thousand-727. The Standard and Poor's 500 index rose five points. The technology-weighted Nasdaq composite lost 24 points, less than one percent. Shares of leading Internet-related companies traded lower, putting pressure on the sector for a second straight day. Portal company Yahoo maintained its losing streak, dropping an additional three percent. So far, second-quarter earnings results in general are fairly good. But analysts say people already are looking ahead to the third-quarter, which they fear could show more markedly the effects of a slowing U-S economy.

    ///REST OPT///

    Ed Lavarnway watches the market for the First Albany investment firm:

    ///LAVARNWAY ACT///

    We're seeing a little bit of concern about earnings, earnings are always important, and they might be even more important than usual in this context of higher interest rates.

    ///END ACT///

    Alan Greenspan, the chief U-S central banker, made some positive comments about the role of technology in the U-S economy and the rising productivity level. But he gave no hint about the outlook for U-S interest rates, which have gone up six times over the past year. International Paper, the world's leading maker of paper and forestry products, came in with better-than- expected second-quarter earnings. International Paper is the second company in the Dow Jones Industrial Average to report. Aluminum-maker Alcoa reported on Monday. Its shares are still reaping the benefits of a big jump in the company's earnings. Deutsche Telekom is looking to enter the U-S wireless market. The German telecommunciations giant is said to have held talks to acquire VoiceStream Wireless for over 30-billion dollars. VoiceStream stock soared 12 percent on that report. Deutsche Telekom is known to have an interest in buying U-S long-distance phone carrier Sprint. Some analysts think the German company made the bid for VoiceStream to pressure Sprint into selling. (signed) NEB/NY/EJ/LSF/AMAHL/PT 11-Jul-2000 16:55 PM EDT (11-Jul-2000 2055 UTC)
    NNNN
    Source: Voice of America
    Voice of America: Selected Articles Directory - Previous Article - Next Article
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