Voice of America, 98-09-01

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

CONTENTS

[01] BOSNIA ELECTIONS (L ONLY) BY GIL BUTLER (SARAJEVO)

[02] EDITORIAL: LET THE CUBAN PEOPLE HAVE FREEDOM

[03] EURO STOCKS (S-ONLY) BY PAUL FRANCUCH (LONDON)

[04] EURO STOCKS (S-ONLY) BY PAUL FRANCUCH (LONDON)

[05] EURO STOCKS OVERNIGHTER (S-ONLY) BY PAUL FRANCUCH (LONDON)

[06] KOSOVO AID MISSION (L-ONLY) BY PHILIP SMUCKER (PAGARUSA, KOSOVO)

[07] TUESDAY'S EDITORIALS BY ANDREW N. GUTHRIE (WASHINGTON)

[01] BOSNIA ELECTIONS (L ONLY) BY GIL BUTLER (SARAJEVO)

INTRO: NATIONAL ELECTIONS TAKE PLACE THIS MONTH IN BOSNIA-HERZEGOVINA. AS V-O-A'S GIL BUTLER REPORTS FROM SARAJEVO, THE ELECTION IS BEING SUPERVISED BY THE ORGANIZATION FOR SECURITY COOPERATION IN EUROPE (O-S-C-E), WHICH HAS ESTABLISHED STRICT RULES DESIGNED TO ENSURE FAIRNESS.

TEXT: THE STREETS OF THE CAPITAL ARE LINED WITH BILLBOARDS FOR THE VARIOUS PARTIES AND COALITIONS, NEWSPAPERS ARE FILLED WITH ELECTION NEWS, AND IN A FEW DAYS BOSNIAN CITIZENS WILL SEE THEIR FIRST TELEVISED PRESIDENTIAL DEBATE.

IT ALL LOOKS FAIRLY FAMILIAR TO PEOPLE FROM OLD, STABLE DEMOCRACIES. BUT HERE, ONLY THREE YEARS AGO, THE ETHNIC COMMUNITIES WERE KILLING EACH OTHER. THE BUILDINGS OF SARAJEVO STILL BEAR THE SCARS OF BULLETS AND ARTILLERY SHELLS. AND INTERNATIONAL POLICE AND SOLDIERS ARE VISIBLE EVERYWHERE.

O-S-C-E -- WHICH IS OVERSEEING THESE ELECTIONS -- HAS STRICT RULES. OFFICIAL NICOLE SZULC ANNOUNCED ACTION AGAINST A CROATIAN RADIO STATION THAT HAS TRANSMITTERS IN BOSNIA FOR BREAKING THE RULES BY IMPOSING A BLACKOUT ON POLITICAL CAMPAIGN NEWS. MS. SZULC ALSO ANNOUNCED AN ACTION BY THE ELECTION COMMISSION REMOVING TWO CANDIDATES FROM THE SERB DEMOCRATIC PARTY LIST BECAUSE A PICTURE OF FORMER BOSNIAN SERB LEADER RADOVAN KARADZIC WHO HAS BEEN INDICTED FOR WAR CRIMES -- WAS DISPLAYED LAST MONTH AT A POLITICAL RALLY

THE INTERNATIONAL CRIMINAL TRIBUNAL FOR FORMER YUGOSLAVIA INDICTED KARADZIC FOR WAR CRIMES. ARTICLE 10 POINT 35 OF THE P-E-C -- UNDER ARTICLE 10 POINT 35 -- NO POLITICAL PARTY IS ALLOWED TO PUBLISH OR USE PICTURES, SYMBOLS OR ANY OTHER MATERIALS REFERRING TO KARADZIC TO PROMOTE THE POLITICAL PARTY.

ON THURSDAY, BOSNIAN TELEVISION WILL SHOW THE FIRST-EVER DEBATE AMONG THE PRESIDENTIAL CANDIDATES, ALTHOUGH THE MUSLIM PRESIDENT IN THE POWER-SHARING PRESIDENCY, ALIJA IZETBEGOVIC, HAS NOT YET AGREED TO PARTICIPATE.

SHELLEY HACK, A LOS ANGELES CONSULTANT IS PRODUCING THE BOSNIAN DEBATES.

THERE CERTAINLY IS A TRADITION IN THIS COUNTRY OF DISCUSSION, POLITICAL DISCUSSION, AND ROUNDTABLE DISCUSSION, SO I THINK WE ARE JUST TAKING IT IN A SLIGHTLY DIFFERENT DIRECTION AND WE ARE DOING MORE FORMAL DEBATES.

SENIOR AMERICAN OFFICIALS HAVE DESCRIBED THE UPCOMING VOTING AS THE FIRST, TRUE, POST WAR ELECTIONS. THEY EXPLAIN THAT EARLIER ELECTIONS WERE STILL COLORED BY WAR-TIME FEELINGS. NOW, OPPOSITION FIGURES ARE GIVEN A REAL CHANCE TO WIN.

THE MOST CLOSELY WATCHED RACE IS EXPECTED TO BE THE RACE FOR SERB PRESIDENT IN THE TRIPARTITE PRESIDENCY. SINCE BILJANA PLAVSIC, THE LEADER OF THE PART OF BOSNIA-HERZEGOVINA CALLED THE SERB REPUBLIC, BROKE WITH HARD LINERS, A MEMBER OF HER COALITION, ZIVKO RADISIC, IS SEEN AS HAVING A REAL CHANCE AT UNSEATING THE CURRENT HARDLINE SERB PRESIDENT MOMCILO KRAJISNIK.

U-S SECRETARY OF STATE MADELEINE ALBRIGHT POINTEDLY AVOIDED MEETING WITH MR. KRAJISNIK DURING HER JUST-CONCLUDED VISIT TO BOSNIA. (SIGNED)
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01-Sep-98 10:07 AM EDT (1407 UTC)
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Source: Voice of America

[02] EDITORIAL: LET THE CUBAN PEOPLE HAVE FREEDOM

ANNCR: THE VOICE OF AMERICA PRESENTS DIFFERING POINTS OF VIEW ON A WIDE VARIETY OF ISSUES. NEXT, AN EDITORIAL EXPRESSING THE POLICIES OF THE UNITED STATES GOVERNMENT.

VOICE:

THE TIME HAS COME FOR FUNDAMENTAL CHANGE IN CUBA. IT IS TIME FOR FIDEL CASTRO TO HEED THE CALL OF FREE NATIONS AROUND THE WORLD: ALLOW DEMOCRACY IN CUBA. LET THE PEOPLE OF CUBA ENJOY THE FREEDOMS AND ECONOMIC PROSPERITY THEY DESERVE.

AS CARL GERSHMAN, PRESIDENT OF THE NATIONAL ENDOWMENT FOR DEMOCRACY, SAID IN A RECENT SPEECH, SINCE THE WORLDWIDE IDEOLOGICAL COLLAPSE OF COMMUNISM, THE CASTRO REGIME "NOW STANDS NAKED BEFORE THE WORLD NOT AS THE EMBODIMENT OF A REVOLUTIONARY IDEA, BUT AS A PATHETIC ANACHRONISM, A GROUP OF DEMAGOGUES WHO CLING EVEN MORE DESPERATELY TO POWER AS THEY BECOME INCREASINGLY IRRELEVANT TO THE NEW SHAPE OF THE WORLD AT THE END OF THE TWENTIETH CENTURY."

AMNESTY INTERNATIONAL, THE DUTCH GROUP PAX CRISTI, AND MANY OTHERS HAVE DOCUMENTED THE SERIOUS VIOLATIONS OF HUMAN RIGHTS IN CUBA. CUBAN AUTHORITIES HARASS AND IMPRISON HUMAN RIGHTS ADVOCATES AND MEMBERS OF INDEPENDENT PROFESSIONAL ASSOCIATIONS, INCLUDING JOURNALISTS, ECONOMISTS AND LAWYERS. THE GOVERNMENT DENIES DUE PROCESS OF LAW. IT INFRINGES UPON CITIZENS' RIGHT TO PRIVACY, DENIES FREEDOM OF SPEECH, PRESS, ASSEMBLY AND ASSOCIATION. IT LIMITS NEWS AND THE DISTRIBUTION OF FOREIGN PUBLICATIONS. IT KEEPS TIGHT RESTRICTIONS ON FREEDOM OF MOVEMENT. IT SEEKS TO THWART FOREIGN CONTACTS.

THE DEMOCRATIC NATIONS OF THE WORLD HAVE A RESPONSIBILITY TO PRESS FOR DEMOCRATIC CHANGE IN CUBA. THE PEOPLE OF CUBA DESERVE NO LESS. AS NATIONAL ENDOWMENT FOR DEMOCRACY PRESIDENT CARL GERSHMAN SAID, "CUBA WILL ONE DAY BE FREE. . .THE HEAVY WEIGHT OF DESPOTISM WILL BE LIFTED FROM THE BACKS OF THE CUBAN PEOPLE, AND . . .THE LONG NIGHT OF TOTALITARIANISM WILL ULTIMATELY GIVE WAY TO THE MORNING SUN OF LIBERTY."

ANNCR:

THAT WAS AN EDITORIAL EXPRESSING THE POLICIES OF THE U.S. GOVERNMENT. IF YOU HAVE A COMMENT, PLEASE WRITE TO EDITORIALS, V-O-A, WASHINGTON, D-C, 20547, U-S-A. YOU MAY ALSO COMMENT AT WWW-DOT-VOA-DOT-GOV-SLASH-EDITORIALS, OR FAX US AT (202) 619-1043.
01-Sep-98 2:58 PM EDT (1858 UTC)
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Source: Voice of America

[03] EURO STOCKS (S-ONLY) BY PAUL FRANCUCH (LONDON)

INTRO: STOCK MARKETS IN EUROPE TUESDAY CLOSED MOSTLY LOWER AGAIN, BUT DECLINES WERE NOT NEARLY AS SHARP AS SOME WERE EXPECTING, FOLLOWING THE STEEP DECLINE ON WALL STREET MONDAY. VOA'S PAUL FRANCUCH HAS CLOSING FIGURES FROM LONDON.

TEXT: IN AT LEAST ONE MARKET -- FRANKFURT -- THE FINAL FIGURES WERE POSITIVE, AS THE "DAX" INDEX OF STOCKS CLOSED WITH A ONE-PERCENT GAIN, UP ALMOST 45 POINTS. BUT WESTERN EUROPE'S OTHER STOCKS MARKETS ALL CLOSED LOWER TUESDAY.

WALL STREET'S SHAKY OPENING WHICH MOVED TO SHARPLY HIGHER PRICES BY THE MIDDAY OF TRADING IN NEW YORK CAME TOO LATE TO AFFECT MUCH EUROPEAN TRADING. EUROPE'S MARKETS DID, HOWEVER, REGAIN GROUND FROM LOSSES POSTED EARLIER IN THE DAY.

EUROPE'S BIGGEST STOCK MARKET -- LONDON -- SAW THE KEY "FINANCIAL TIMES" 100 INDEX CLOSE OFF 80 POINTS -- A DECLINE OF ONE-AND-A-HALF PERCENT. BUT THE FRENCH "CAC 40" STOCK INDEX IN PARIS SAW PRICES DOWN JUST UNDER SIX POINTS -- A NEGLIGIBLE VALUE DECLINE FROM MONDAY'S CLOSE. (SIGNED)
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01-Sep-98 1:40 PM EDT (1740 UTC)
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Source: Voice of America

[04] EURO STOCKS (S-ONLY) BY PAUL FRANCUCH (LONDON)

INTRO: STOCK MARKETS IN EUROPE TUESDAY CLOSED MOSTLY LOWER AGAIN, BUT DECLINES WERE NOT NEARLY AS SHARP AS SOME WERE EXPECTING, FOLLOWING THE STEEP DECLINE ON WALL STREET MONDAY. VOA'S PAUL FRANCUCH HAS CLOSING FIGURES FROM LONDON.

TEXT: IN AT LEAST ONE MARKET -- FRANKFURT -- THE FINAL FIGURES WERE POSITIVE, AS THE "DAX" INDEX OF STOCKS CLOSED WITH A ONE-PERCENT GAIN, UP ALMOST 45 POINTS. BUT WESTERN EUROPE'S OTHER STOCKS MARKETS ALL CLOSED LOWER TUESDAY.

WALL STREET'S SHAKY OPENING WHICH MOVED TO SHARPLY HIGHER PRICES BY THE MIDDAY OF TRADING IN NEW YORK CAME TOO LATE TO AFFECT MUCH EUROPEAN TRADING. EUROPE'S MARKETS DID, HOWEVER, REGAIN GROUND FROM LOSSES POSTED EARLIER IN THE DAY.

EUROPE'S BIGGEST STOCK MARKET -- LONDON -- SAW THE KEY "FINANCIAL TIMES" 100 INDEX CLOSE OFF 80 POINTS -- A DECLINE OF ONE-AND-A-HALF PERCENT. BUT THE FRENCH "CAC 40" STOCK INDEX IN PARIS SAW PRICES DOWN JUST UNDER SIX POINTS -- A NEGLIGIBLE VALUE DECLINE FROM MONDAY'S CLOSE. (SIGNED)
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01-Sep-98 1:40 PM EDT (1740 UTC)
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Source: Voice of America

[05] EURO STOCKS OVERNIGHTER (S-ONLY) BY PAUL FRANCUCH (LONDON)

INTRO: MAJOR STOCK MARKETS OF WESTERN EUROPE WERE HIT BY VOLATILE PRICE SWINGS TUESDAY BEFORE WALL STREET PRICES SHOWED SIGNS OF RECOVERY FROM THEIR STEEP FALL TO BEGIN THE WEEK. MORE FROM LONDON AND V-O-A'S PAUL FRANCUCH.

TEXT: THE BIG STOCK MARKETS OF WESTERN EUROPE OPENED TUESDAY DOWN SHARPLY -- IN REACTION TO MONDAY'S MORE THAN 500-POINT FALL ON WALL STREET, AND WITH NO SIGNS OF A SOLUTION TO THE POLITICAL AND ECONOMIC CRISIS IN RUSSIA.

BUT BY THE CLOSE OF TRADING, PRICES IN EUROPE HAD RECOVERED. IN LONDON, THE KEY "FINANCIAL TIMES" 100 INDEX BEGINS TRADE TODAY (WEDNESDAY) AT 51-69 -- AN 80-POINT DROP FROM PREVIOUS TRADING AND A DECLINE OF ONE-AND-ONE-HALF-PERCENT. BUT THE "FOOTSIE" HAD BEEN OFF NEARLY THREE-PERCENT TUESDAY, AS WAS THE GERMAN "DAX" IN FRANKFURT. BUT THE DAX GAINED A PERCENT IN VALUE BY THE END OF TRADING AND OPENS TODAY AT 48-55. THE PARIS "CAC 40" STOCK INDEX STARTS TRADE AT 36-46 -- A NEGLIGIBLE DECLINE FOR THE DAY, AFTER AN EARLIER PLUNGE OF NEARLY THREE-PERCENT. (SIGNED)
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01-Sep-98 2:30 PM EDT (1830 UTC)
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Source: Voice of America

[06] KOSOVO AID MISSION (L-ONLY) BY PHILIP SMUCKER (PAGARUSA, KOSOVO)

INTRO: A TOP U-S GOVERNMENT HUMANITARIAN OFFICIAL TOURED THE DEVASTATED HILLS OF KOSOVO TUESDAY AFTER PLEADING WITH SERBIAN OFFICIALS TO PERMIT MORE ASSISTANCE TO ETHNIC ALBANIAN REFUGEES, CAUGHT IN THE CROSS FIRE. THE OFFICIAL SAID THE U-S GOVERNMENT IS PREPARING A MAJOR HUMANITARIAN AID PROGRAM TO HELP REFUGEES SURVIVE THE UPCOMING WINTER. PHILIP SMUCKER REPORTS FROM THE KOSOVO VILLAGE OF PAGARUSA (PAH-GAH-'ROO-SHA).

TEXT: A TOP OFFICIAL WITH THE U-S AGENCY FOR INTERNATIONAL DEVELOPMENT (USAID) SAYS HIS GOVERNMENT IS PREPARING A MULTI-MILLION DOLLAR AID PACKAGE TO ASSIST ETHNIC ALBANIAN REFUGEES TRAPPED IN KOSOVO'S CONFLICT.

THE OFFICIAL, HUGH PARMER, TOURED THE WORST-HIT AREAS OF KOSOVO TUESDAY TO PERSONALLY ASSESS THE NEEDS OF SOME OF THE 250-THOUSAND PEOPLE DISPLACED BY THE FIGHTING.

SERBIAN SECURITY FORCES ARE FIGHTING ETHNIC ALBANIAN GUERRILLAS FOR CONTROL OF THE RUGGED HILLS OF KOSOVO, A PROVINCE IN SERBIA. THE SERB FORCES HAVE OVERRUN SCORES OF VILLAGES, KILLED HUNDREDS OF CIVILIANS AND SET THOUSANDS OF HOMES ABLAZE IN THEIR CAMPAIGN TO DIVIDE THE POPULATION FROM THE GUERRILLAS.

TENS OF THOUSANDS OF REFUGEES ALONG WITH A SMALL NUMBER OF GUERRILLAS BELONGING TO THE KOSOVO LIBERATION ARMY ARE NOW ROVING THE HILLS IN TRACTORS AND ON FOOT.

FOOD AND HEALTH CARE SUPPLIES ARE DWINDLING.

MR. PARMER ASSURED AN ETHNIC ALBANIAN DOCTOR NEAR THE VILLAGE OF PAGARUSA THAT HE HAD PRESSED THE SERBIAN GOVERNMENT TO ALLOW HUMANITARIAN AID TO THE REFUGEES.

I TOLD SOME GOVERNMENT PEOPLE TODAY (TUESDAY) THAT NO ONE BELIEVED THAT WOMEN AND CHILDREN AND OLD PEOPLE WERE GUERRILLAS AND THAT IT WAS VERY IMPORTANT THAT THEY ALLOW HUMANITARIAN SUPPLIES TO REACH THOSE PEOPLE.

THE REFUGEES HAVE ONLY TWO MONTHS BEFORE FREEZING WEATHER IS LIKELY TO SET IN. MANY OF THEM ARE LIVING BENEATH PLASTIC SHEETS ON HILLSIDES IN A POCKET OF LAND SURROUNDED BY SERB FORCES.

MR. PARMER LISTENED TO REFUGEES EXPLAIN HOW THEY HAD WATCHED FROM THE WOODS AS THEIR OWN HOMES WERE SET ON FIRE BY SERBIAN SECURITY FORCES. HOMES AND VILLAGES UNDER THE CONTROL OF SERB FORCES WERE SEEN BURNING BY MR. PARMER'S TEAM ON TUESDAY.

SERBIAN OFFICIALS DENY THAT THEY HAVE ENGAGED IN WANTON DESTRUCTION AND THE TORCHING OF HOMES. YUGOSLAV PRESIDENT SLOBODAN MILOSEVIC CONGRATULATED THE YUGOSLAV ARMY TUESDAY FOR WHAT HE CALLED ITS "PROFESSIONAL BEHAVIOR" IN DEFENDING SERBIA'S BORDERS. (SIGNED)
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01-Sep-98 3:53 PM EDT (1953 UTC)
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Source: Voice of America

[07] TUESDAY'S EDITORIALS BY ANDREW N. GUTHRIE (WASHINGTON)

INTRO: ACROSS THE COUNTRY, NEWSPAPERS ARE COMMENTING ON THE MOSCOW SUMMIT BETWEEN PRESIDENTS CLINTON AND YELTSIN. OTHER EDITORIALS TAKE ON THE TOPICS OF YESTERDAY'S DRAMATIC 500-PLUS DROP IN THE DOW JONES STOCK INDEX; THE INTRANSIGENCE OF SADDAM HUSSEIN; NORTH KOREA'S LATEST MISSILE TEST; AND A CRIPPLING AIRLINE STRIKE JUST BEFORE ONE OF THE NATION'S BUSIEST TRAVEL WEEKENDS OF THE YEAR. NOW, HERE IS ________________ WITH A CLOSER LOOK AND A FEW QUOTES IN TODAY'S EDITORIAL DIGEST.

TEXT: PRESIDENT CLINTON IS IN MOSCOW FOR HIS SUMMIT MEETING WITH PRESIDENT BORIS YELTSIN /// OPT /// AS EDITORIAL CARTOONISTS IN THIS COUNTRY MOCK THE SESSION BETWEEN A PAIR OF LEADERS BADLY WEAKENED BY SERIOUS, ALTHOUGH DIFFERENT PROBLEMS. ONE CARTOON HAS THE TWO MEN SITTING TOGETHER, WITH EACH SILENTLY THINKING "WHAT IF HE ASKS ME FOR POLITICAL ASYLUM? /// END OPT /// IN PORTLAND, "THE OREGONIAN" SAYS THAT, ASIDE FROM TRYING TO CONVINCE THE RUSSIANS TO "STAY THE COURSE" ON THEIR ECONOMIC TRANSITION FROM COMMUNISM TO A FREE MARKET:

VOICE: ... [MR.] CLINTON'S AGENDA FOR THIS SUMMIT IS EMBARRASSINGLY MODEST. HE AND [PRESIDENT] YELTSIN MAY ANNOUNCE A DEAL TO CUT PLUTONIUM STOCKPILES. THAT'S GOOD, BUT HARDLY THE REAL PROBLEM THESE DAYS. THE SECURITY OF THOSE STOCKPILES IS A GREATER ISSUE THAN THEIR SIZE, AND THAT, TOO, IS LARGELY AN ECONOMIC QUESTION. /// OPT /// AS RUSSIA'S ECONOMY UNRAVELS, ARGUES GRAHAM ALLISON, DIRECTOR OF HARVARD'S BELFER CENTER FOR SCIENCE AND INTERNATIONAL AFFAIRS, IT BECOMES EVER MORE LIKELY THAT SOME UNPAID COLONEL WILL TRY TO 'MONETIZE' THE NUCLEAR ASSETS UNDER HIS CONTROL. /// END OPT /// [PRESIDENT] CLINTON SHOULD BE ANXIOUS TO SHOW AMERICANS THAT HE CAN SALVAGE HIS STATURE AS A WORLD LEADER IN THE WAKE OF THE LEWINSKY SCANDAL. IT'S NOT MUCH, BUT HE CAN START BY PERSUADING RUSSIA TO TAKE THE ONLY COURSE THAT IS TRULY OPEN.

TEXT: AT LEAST FOUR THOUSAND KILOMETERS AWAY, "THE PORTLAND [MAINE] PRESS HERALD" IS MORE OPTIMISTIC, SUGGESTING THIS MAY ACTUALLY BE A GOOD TIME FOR A VISIT.

VOICE: /// OPT /// SOME SAY THIS IS THE WORST OF TIMES FOR PRESIDENT CLINTON TO BE GOING TO RUSSIA. IT COULD, HOWEVER, ALSO BE THE BEST OF TIMES. THE RUSSIAN PEOPLE AND THEIR GOVERNMENT NEED TO HEAR NOW, AS NEVER BEFORE, THAT THE WAY TO THEIR SALVATION LIES NOT WITH A RETURN TO THE PAST BUT WITH STAYING 'ON THE PATH OF REFORM,' AS THE PRESIDENT PUT IT ON MONDAY. /// END OPT /// ... IT IS CRITICAL, THROUGH IT ALL, THAT RUSSIA NOT BACKSLIDE TO THE BAD OLD DAYS BECAUSE THE TRANSITION TO A NEW ECONOMIC SYSTEM IS ROUGH. THE PRESENCE OF AN AMERICAN PRESIDENT TELLING THE PEOPLE AND THEIR LEADERS THAT COULD MAKE A CRUCIAL DIFFERENCE IN KEEPING THE TRANSITION ON TRACK.

TEXT: NEW YORK'S "DAILY NEWS" AGREES, AND TIES IN THE SUMMIT WITH YESTERDAY'S BIG DROP ON THE STOCK EXCHANGE.

VOICE: ... BORIS YELTSIN'S TROUBLES MAKE PRESIDENT CLINTON'S DOMESTIC PROBLEMS LOOK LIKE A DAY AT THE BEACH [TRIFLING]. BUT, IN FACT, [MR.] YELTSIN'S WOES ARE [PRESIDENT] CLINTON'S TOO, AS CHAOS IN RUSSIA HAS WORLDWIDE IMPLICATIONS. DOUBTERS OBVIOUSLY DON'T HAVE ANY MONEY IN THE U-S STOCK MARKET, WHICH CONTINUED ITS DRAMATIC DROP YESTERDAY. BUT IF MONEY MAKES THE WORLD GO 'ROUND, RUSSIAN NUKES COULD STOP IT. AND THAT'S THE REAL DANGER - - WHOEVER CONTROLS RUSSIA'S NUCLEAR ARSENAL HAS HIS FINGER ON THE DOOMSDAY BUTTON. ..... THE ONLY WAY OUT IS THROUGH MORE REFORM AND LIBERALIZATION OF THE ECONOMY. .... IF [MR.] CLINTON CAN USE HIS VISIT TO GET THIS MESSAGE ACROSS TO THE RUSSIAN PEOPLE AND RUSSIAN POLITICIANS, IT WILL MAKE HIS TRIP WELL WORTH IT.

TEXT: TURNING TO WALL STREET, "THE NEW YORK TIMES" SAYS THIS IS A SLIDE THE MARKETS ARE UNLIKELY TO END ON THEIR OWN.

VOICE: THIS PLUNGE, WHICH HAS AFFECTED MARKETS AROUND THE WORLD, COMES AT A TIME WHEN THE GLOBAL ECONOMY LOOKS SHAKIER THAN IT HAS IN YEARS. WITH ASIA IN RECESSION AND WORRIED INVESTORS RELUCTANT TO SUPPLY FINANCING TO DEVELOPING ECONOMIES, WORLDWIDE ECONOMIC GROWTH IS WEAK AND GETTING WEAKER. SCENARIOS FROM THE 1930'S, IN WHICH COUNTRY AFTER COUNTRY DEVALUES ITS CURRENCY, SEEKING TRADE ADVANTAGES BUT INSTEAD IMPOVERISHING THE WORLD, SEEMED OUTLANDISH ONLY A FEW MONTHS AGO. NOW THEY SEEM LESS IMPLAUSIBLE.

TEXT: TODAY'S "CHRISTIAN SCIENCE MONITOR" IS CALLING ON FEDERAL RESERVE CHAIRMAN ALAN GREENSPAN TO LOWER INTEREST RATES, AFTER 17 MONTHS OF NO CHANGE, TO FURTHER STIMULATE THE ECONOMY. "THE SUN" IN BALTIMORE, TAKES A LESS ALARMING VIEW OF THE STOCK MARKET FALL, ATTEMPTING TO GIVE IT PERSPECTIVE.

VOICE: UNDERLYING ECONOMIC CONDITIONS HAVE NOT CHANGED IN THE PAST WEEK. /// OPT /// ASIA'S ECONOMY IS STRUGGLING. RUSSIA'S ECONOMY IS COLLAPSING. LATIN AMERICA'S FUTURE IS UNCLEAR. THE U-S ECONOMY CONTINUES TO GROW, PRODUCING RECORD NUMBERS OF JOBS WITH A BARELY NOTICEABLE RATE OF INFLATION. /// END OPT /// WHAT HAS CHANGED: PEOPLE'S PERCEPTIONS ABOUT POLITICAL STABILITY AT HOME AND ABROAD. .... WHILE THE PRECIPITOUS FALL IN THE DOW [JONES INDUSTRIAL STOCK AVERAGE] IN THE PAST FOUR WEEKS ... IS TROUBLING, THE PERCENTAGE DECLINE IS ACTUALLY QUITE SMALL.

TEXT: TO THE MIDDLE EAST NOW AND THE NEW INTRANSIGENCE FROM SADDAM HUSSEIN, "USA TODAY" OPINES:

VOICE: FORGET THE ILLUSION OF ARMS CONTROL IN IRAQ. THE CLINTON ADMINISTRATION NO LONGER APPEARS WILLING TO DO WHAT'S NEEDED TO KEEP SADDAM HUSSEIN FROM DEVELOPING WEAPONS OF MASS DESTRUCTION. ... FOR AN EXPLANATION OF WHY A TOUGH POLICY IS NEEDED, JUST RECALL THE PRESIDENT'S JUSTIFICATION LAST FEBRUARY: 'IF WE FAIL TO RESPOND TODAY, SADDAM AND ALL THOSE WHO WOULD FOLLOW IN HIS FOOTSTEPS WILL BE EMBOLDENED TOMORROW.' UNFORTUNATELY, THE ADMINISTRATION APPEARS TO BE LOSING THE COMMITMENT NEEDED TO GIVE THOSE WORDS MEANING.

TEXT: THE NORTH KOREAN MEDIUM-RANGE MISSILE THAT SAILED OVER JAPANESE TERRITORY TO FALL IN THE SEA OF JAPAN MONDAY, IS ALREADY DRAWING COMMENT, SUCH AS THIS FROM "THE WASHINGTON POST."

VOICE: NORTH KOREA IS OUTDOING ITSELF. IN BARELY A WEEK'S TIME IT HAS BEEN CAUGHT BUILDING A SECRET UNDERGROUND NUCLEAR FACILITY, AND NOW IT HAS CONDUCTED A TEST OF A NEW LONGER-DISTANCE MISSILE. THE NORTH KOREANS EVEN HAD THE EFFRONTERY ... TO FIRE THE SECOND STAGE ... ACROSS SOVEREIGN JAPANESE SOIL - - AN UNMISTAKABLE ATTEMPT TO INTIMIDATE A NERVOUS NEIGHBOR AND, INDIRECTLY, ITS PATRONS. /// OPT /// THE STALINIST REGIME'S PURPOSE SEEMS CLEAR. AS IT ACKNOWLEDGES, IT HAS LITTLE ELSE OF VALUE TO EXPORT EXCEPT THE WEAPONS IT HAS ACCUMULATED TO SUSTAIN ITS SELF-ISOLATING HEDGEHOG [EDITOR: "DEFENSIVE" A HEDGEHOG IS A VERY SMALL, EUROPEAN ANIMAL SOMEWHAT LIKE A PORCUPINE, WITH SHARP SPIKES OVER MOST OF ITS BODY WHICH ROLLS UP IN A BALL TO THWART ADVERSARIES] POSE. /// END OPT ///

TEXT: IN DOMESTIC DOINGS, THE NORTHWEST AIRLINES STRIKE, WHICH IS BADLY AFFECTING AIR TRAVEL IN PARTS OF THE UNITED STATES JUST BEFORE THE BUSY LABOR DAY HOLIDAY WEEKEND, DRAWS THIS COMMENT FROM "THE NEW YORK TIMES."

VOICE: IT IS HARD TO IMAGINE A LESS SYMPATHETIC UNION THAN ONE MADE UP OF HIGH-SALARIED PILOTS. NORTHWEST AIRLINES, IN A MOVE TO EXPLOIT THAT VULNERABILITY, HAS LAUNCHED A LARGE ADVERTISING CAMPAIGN DENOUNCING THE PILOTS, SAYING THEY GET A LOT OF MONEY FOR VERY LITTLE WORK. THE PILOTS HAVE THEIR OWN, SMALLER CAMPAIGN BLASTING MANAGEMENT AS ... GREEDY. THIS KIND OF OPEN WARFARE BETWEEN MANAGEMENT AND EMPLOYEES HAS DAMAGING PRECEDENTS ... THE BITTER WARFARE BETWEEN MANAGEMENT AND LABOR AT EASTERN AIRLINES ENDED IN THE BANKRUPTCY AND DEATH OF THE AIRLINE.

TEXT: LASTLY, FROM TEXAS, A WARNING ABOUT AN OLD PROBLEM, THE U-S DEPENDENCY ON FOREIGN OIL FROM "THE DALLAS MORNING NEWS."

VOICE: IN THE SPAN OF A GENERATION, THE UNITED STATES HAS GROWN STUNNINGLY COMPLACENT ABOUT ITS RELIANCE ON FOREIGN OIL. MEMORIES OF THE 1973 ARAB OIL EMBARGO HAVE FADED. OIL IS CHEAP, AND IT FREELY FLOWS FROM COUNTRIES ALL OVER THE GLOBE. THE THREAT OF A CRIPPLING DISRUPTION OF THE U-S OIL SUPPLY NOW SEEMS PRETTY REMOTE. NONETHELESS, THE UNITED STATES OUGHT TO TAKE ADVANTAGE OF UNCOMMONLY LOW OIL PRICES TO WEAVE A STURDIER OIL SAFETY NET.

TEXT: ON THAT CAUTIONARY NOTE, WE CONCLUDE THIS SAMPLING OF COMMENTS FROM SOME OF TODAY'S U-S NEWSPAPER EDITORIALS.
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01-Sep-98 10:49 AM EDT (1449 UTC)
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Source: Voice of America

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