Voice of America, 98-07-06

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

CONTENTS

[01] KOSOVO - HOLBROOKE (L) BY ART CHIMES (PRISTINA)

[02] KOSOVO / DIPLOMATS (L) BY ART CHIMES (PREKAZ, KOSOVO)

[03] U-N / KOSOVO WARNING (L - ONLY) BY MAX RUSTON (UNITED NATIONS)

[04] NORTHERN IRELAND (L) BY ANDRE DE NESNERA (LONDON)

[05] NORTHERN IRELAND (L) BY ANDRE DE NESNERA (LONDON)

[06] EURO STOCKS (S ONLY) BY KEVIN LYNCH (LONDON)

[07] NY ECON WRAP (S&L) BY JOE CHAPMAN (NEW YORK)

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

[01] KOSOVO - HOLBROOKE (L) BY ART CHIMES (PRISTINA)

INTRO: AMERICAN ENVOY RICHARD HOLBROOKE HOLDS MORE TALKS IN BELGRADE TONIGHT (SUNDAY NIGHT) WITH YUGOSLAV PRESIDENT SLOBODAN MILOSEVIC. IT FOLLOWS A SERIES OF MEETINGS WITH ETHNIC ALBANIAN LEADERS IN YUGOSLAVIA'S VIOLENT KOSOVO PROVINCE, WHERE SEPARATIST REBELS HAVE BEEN BATTLING SERBIAN SECURITY FORCES. CORRESPONDENT ART CHIMES REPORTS FROM THE PROVINCIAL CAPITAL, PRISTINA.

TEXT: BEFORE FLYING ON TO BELGRADE, MR. HOLBROOKE HAD EXTENSIVE TALKS WITH ETHNIC ALBANIAN POLITICAL LEADER IBRAHIM RUGOVA. MUCH OF IT CENTERED ON DIPLOMATIC MONITORING OF THE KOSOVO SITUATION THAT IS SET TO BEGIN MONDAY WITH AMERICAN AND RUSSIAN AMBASSADORS AND OTHER BELGRADE-BASED DIPLOMATS.

MR. HOLBROOKE WAS JOINED BY RUSSIAN DEPUTY FOREIGN MINISTER NICOLAI AFANASYEVSKY A-FA-NAS-YEV-SKI -- ANOTHER SIGNAL THE INTERNATIONAL COMMUNITY IS WORKING TOGETHER TO RESOLVE THE CRISIS.

RUSSIA HAD DISTANCED ITSELF FROM SANCTIONS AGAINST SERBIA AND HAD SEEMED LESS INCLINED TO ACT FORCEFULLY TO END THE CRISIS. A SHIFT IN THE AMERICAN POSITION -- FROM DEMANDS FOR A SERB TROOP PULLBACK TO A CALL FOR A CEASE-FIRE ON BOTH SIDES -- HAS PERHAPS ENCOURAGED THE RUSSIANS TO JOIN WASHINGTON IN SPEAKING WITH ONE VOICE.

MR. HOLBROOKE EXPLAINED THE COMPLEX NATURE OF THE KOSOVO DISPUTE MEANS THERE CAN BE NO SIMPLE, QUICK SOLUTION.

THIS IS A CONTINUING PROCESS. THE UNITED STATES AND RUSSIA AND THE OTHER CONTACT GROUP MEMBERS ARE CONTINUOUSLY ENGAGED. WE ARE NOT GOING TO STOP. SOME OF YOU REPORT FAILURE OR SUCCESS ON A DAY-BY-DAY BASIS LIKE IT IS THE WORLD CUP, BUT THAT IS NOT HOW IT WORKS.

MORE THAN 300 PEOPLE HAVE BEEN KILLED IN FIGHTING THIS YEAR AS KOSOVO LIBERATION ARMY GUERRILLAS FIGHT FOR INDEPENDENCE. AUTHORITIES IN BELGRADE SAY THEY WILL NEGOTIATE ON AUTONOMY, BUT INSIST KOSOVO REMAIN IN SERBIA -- A VIEW SUPPORTED BY THE INTERNATIONAL COMMUNITY.

[02] KOSOVO / DIPLOMATS (L) BY ART CHIMES (PREKAZ, KOSOVO)

INTRO: DIPLOMATS FROM THE UNITED STATES, WEST EUROPEAN NATIONS, AND RUSSIA HAVE TRAVELLED IN PARTS OF SERBIA'S VIOLENT KOSOVO PROVINCE TO INAUGURATE A NEW PROGRAM OF DIPLOMATIC MONITORING OF THE SITUATION THERE. V-O-A CORRESPONDENT ART CHIMES WENT ALONG AND FILED THIS REPORT.

TEXT: THE THREE-HOUR TOUR TOOK THE DIPLOMATS INTO PARTS OF THE DRENICE REGION WEST OF THE PROVINCIAL CAPITAL, PRISTINA, IN AREAS THAT HAVE SEEN VIOLENT CLASHES BETWEEN ETHNIC ALBANIANS AND SERB SECURITY FORCES.

MONDAY'S VISIT WAS DESCRIBED AS SYMBOLIC. BUT STARTING LATER THIS WEEK, DIPLOMATS FROM WESTERN EUROPE, RUSSIA AND THE UNITED STATES WILL TRAVEL THROUGHOUT KOSOVO ON A DAILY BASIS TO GATHER FIRST-HAND INFORMATION AND TRY TO DETER VIOLENCE. THE DIPLOMATS WILL BE ACCREDITED TO BELGRADE BUT WILL ACTUALLY BE BASED IN PRISTINA. THE EMBASSIES ARE ADDING PERSONNEL TO STAFF THE MISSION.

MONDAY'S CONVOY OF ABOUT 35 VEHICLES, FILLED WITH AMBASSADORS AND ABOUT 100 JOURNALISTS DID NOT VISIT THE MOST DANGEROUS PARTS OF KOSOVO. BUT DIPLOMATS SAY THAT ONCE THE OBSERVERS BEGIN ROUTINE PATROLS THEY WILL TRAVEL TO ALL PARTS OF THE PROVINCE.

THE SENIOR DIPLOMAT AT THE AMERICAN EMBASSY IN BELGRADE, RICHARD MILES, EMPHASIZED THEY WERE THERE AS OBSERVERS, NOT NEGOTIATORS, AND SAID THE TRIP WAS VERY USEFUL.

MR. MILES DESCRIBED THE SITUATION WHEN HE STOPPED AT ONE CHECKPOINT.

WE HAVE ENTERED A DANGEROUS AREA. THE PREVIOUS CHECKPOINTS, I SUPPOSE, ARE SERIOUS ENOUGH TOO. BUT THESE FELLOWS HERE ARE WAY UP ON THE FRONT LINE, SO WE JUST WANTED TO TALK TO THEM AND SEE THEIR SITUATION HERE. YOU CAN SEE WHERE THEY'VE DUG IN, UP ON THE HILLS HERE. IT'S THE KIND OF THING THE ACTUAL PATROLS WILL BE DOING WITH MORE PROFESSIONAL OBSERVERS WHEN THEY BEGIN FOR REAL, AFTER THIS FIRST SYMBOLIC MISSION.

THE DIPLOMATS ALSO STOPPED IN PREKAZ, A VILLAGE VIRTUALLY DESTROYED IN AN ASSAULT IN FEBRUARY BY SERBIAN SECURITY FORCES. MORE THAN 50 PEOPLE DIED IN THE ATTACK. THE SERBS SAY THEY WERE AFTER TERRORISTS, INCLUDING CHARISMATIC SEPARATIST LEADER ADEM JASHARI, BUT MOST OF THOSE KILLED WERE WOMEN, CHILDREN AND OLD MEN.

IT WAS A VIVID, FIRST-HAND REMINDER FOR THE DIPLOMATS OF THE INTENSITY OF THE FIGHTING THAT HAS RAGED IN KOSOVO DURING THE PAST FOUR MONTHS, AND THAT HAS CLAIMED MORE THAN 300 LIVES. (SIGNED)
NEB/ART/JWH
06-Jul-98 11:31 AM EDT (1531 UTC)
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Source: Voice of America

[03] U-N / KOSOVO WARNING (L - ONLY) BY MAX RUSTON (UNITED NATIONS)

INTRO: UNITED NATIONS SECRETARY-GENERAL KOFI ANNAN IS WARNING THAT TENSION IN THE YUGOSLAV PROVINCE OF KOSOVO THREATENS TO DESTABILIZE THE ENTIRE BALKAN REGION. THE WARNING IS IN A REPORT SUBMITTED TO THE SECURITY COUNCIL AND RELEASED TODAY (MONDAY) IN NEW YORK. V-O-A'S UNITED NATIONS CORRESPONDENT MAX RUSTON REPORTS.

TEXT: IN THE REPORT, MR. ANNAN SAYS HE IS APPALLED BY THE CONTINUED VIOLENCE IN KOSOVO. HE URGES ALL PARTIES TO, IN HIS WORDS, DEMONSTRATE RESTRAINT AND RESUME NEGOTIATIONS TO FIND A PEACEFUL SOLUTION TO THE CONFLICT. HE SAYS HE IS INCREASINGLY CONCERNED THAT IF HOSTILITIES ARE NOT STOPPED, TENSIONS COULD SPILL ACROSS BORDERS AND DESTABILIZE THE ENTIRE REGION.

UNDER SECURITY COUNCIL RESOLUTION 11-60, APPROVED IN MARCH, MR. ANNAN IS REQUIRED TO REPORT ON THE SITUATION IN KOSOVO EVERY 30 DAYS. THAT RESOLUTION IMPOSED AN ARMS EMBARGO ON YUGOSLAVIA, AND CALLED FOR AN END TO VIOLENCE.

MR. ANNAN'S LATEST REPORT COMES AMID INCREASED TENSION IN THE REGION. THE U-N SECRETARY-GENERAL SAYS THE SITUATION HAS DETERIORATED SIGNIFICANTLY, FORCING TENS OF THOUSANDS OF PEOPLE, MOST OF THEM ETHNIC ALBANIANS, TO FLEE THEIR HOMES.

ETHNIC ALBANIANS SAY SERB POLICE IN KOSOVO ARE RESPONSIBLE FOR THE VIOLENCE. THEY SAY POLICE, MOTIVATED BY ETHNIC RIVALRY, HAVE LAUNCHED AN ETHNIC CLEANSING CAMPAIGN AGAINST THE LOCAL ALBANIAN POPULATION. YUGOSLAV AUTHORITIES HAVE DENIED THE CHARGE AND ACCUSED ETHNIC ALBANIANS OF USING TERRORISM IN AN EFFORT TO GAIN INDEPENDENCE FOR KOSOVO.

YUGOSLAV AUTHORITIES THIS WEEK BEGAN ALLOWING DIPLOMATIC OBSERVER MISSIONS ACCESS TO THE WORST-HIT PARTS OF KOSOVO. THEY DID SO AMID INCREASING INTERNATIONAL CONDEMNATION OF YUGOSLAVIA'S ROLE IN THE VIOLENCE AND CALLS FOR INTERNATIONAL INTERVENTION. (SIGNED) NEB/UN/MPR/LSF/PT
06-Jul-98 5:04 PM EDT (2104 UTC)
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Source: Voice of America

[04] NORTHERN IRELAND (L) BY ANDRE DE NESNERA (LONDON)

INTRO: IN NORTHERN IRELAND, PROTESTANT MARCHERS HAVE BEEN PREVENTED FROM PARADING DOWN A CATHOLIC ENCLAVE IN THE SMALL TOWN OF PORTADOWN, SOUTHWEST OF BELFAST. CORRESPONDENT ANDRE DE NESNERA REPORTS FROM LONDON.

TEXT: A MASSIVE BRITISH ARMY AND POLICE PRESENCE HAS PREVENTED SEVERAL-THOUSAND MEMBERS OF THE PROTESTANT 'ORANGE ORDER' FROM MARCHING DOWN THEIR TRADITIONAL ROUTE TAKING THEM THROUGH A CATHOLIC ENCLAVE OF PORTADOWN.

THE NORTHERN IRELAND 'PARADES COMMISSION' PROHIBITED THE PROTESTANTS FROM STAGING THEIR YEARLY MARCH, SAYING IT WOULD EXACERBATE SECTARIAN TENSIONS. BUT 'ORANGE ORDER' LEADERS SAID THEY WOULD DEFY THE BAN AND MARCH RIGHT THROUGH. HOWEVER, DURING THE PAST SEVERAL DAYS BRITISH SOLDIERS AND NORTHERN IRELAND POLICE HAVE CORDONED OFF THE GARVAGHY ROAD, IN A CATHOLIC AREA, WITH BARBED WIRE FENCES AND CONCRETE BLOCKS.

THE PROTESTANT MARCHERS -- WEARING THEIR TRADITIONAL ORANGE SASHES, BLACK BOWLER HATS, AND WHITE GLOVES -- PARADED TOWARDS THE BARRICADES. WHEN IT BECAME CLEAR THE POLICE AND ARMY WOULD NOT LET THEM THROUGH, MANY OF THEM TURNED AWAY. BUT SEVERAL HUNDRED PROTESTANTS HAVE DECIDED TO STAY IN THE AREA, PROMISING TO REMAIN UNTIL THEY ARE GIVEN THE RIGHT TO MARCH THROUGH. 'ORANGE ORDER' LEADERS SAY THEY WILL BE THERE AS LONG AS NECESSARY -- A YEAR IF NEED BE.

FOR THE PAST THREE YEARS, PORTADOWN HAS BEEN THE SCENE OF BLOODY CONFRONTATIONS WHICH SPARKED VIOLENCE THROUGHOUT THE BRITISH PROVINCE.

IN AN INTERVIEW WITH BRITISH RADIO, NORTHERN IRELAND'S POLICE CHIEF RONNIE FLANAGAN URGED RESTRAINT.

IT IS IMPORTANT THAT THOSE PERHAPS WAITING IN THE WINGS OF MUCH MORE SINISTER INTENT AND MALEVOLENT PURPOSE DO NOT GET THE OPPORTUNITY TO HIJACK ANY PEACEFUL PROTEST THAT THE 'ORANGE ORDER' INTENDS TO ENGAGE IN. IF THEY ENGAGE IN ONLY PEACEFUL AND LAWFUL PROTESTS, WE CAN GET THROUGH THESE DAYS WITHOUT THE DIFFICULTIES OF PAST YEARS -- AND THAT IS WHAT I URGE EVERYONE TO DO.

THE PORTADOWN STANDOFF BETWEEN 'ORANGE ORDER' MARCHERS, POLICE, AND BRITISH TROOPS COMES AT A TIME WHEN NORTHERN IRELAND IS HOPING TO ENTER A NEW ERA WHERE POLITICS -- AND NOT VIOLENCE -- WOULD DICTATE THE PROVINCE'S FUTURE.

A NEW NORTHERN IRELAND ASSEMBLY IS BEGINNING TO TAKE CHARGE OF THE PROVINCE'S AFFAIRS GIVING PROTESTANT AND CATHOLIC POLITICIANS A CHANCE TO WORK TOGETHER.

A LOCAL NATIONALIST COUNSELOR FROM PORTADOWN -- BRIDGET RYDGES -- TOLD REPORTERS PEACEFUL POLITICS MUST TAKE THE PLACE OF VIOLENT CONFRONTATIONS.

THE PEOPLE OF NORTHERN IRELAND HAVE VOTED FOR A DIFFERENT DISPENSATION AND A NEW BEGINNING IN VERY, VERY LARGE NUMBERS, AND I DO NOT THINK THAT ANYBODY ACROSS NORTHERN IRELAND -- EXCEPT FOR A VERY SMALL MINORITY -- WANTS CONFRONTATION. WE WANT TO MOVE FORWARD TOGETHER TOWARDS RECONCILIATION AND ACCOMMODATION.

MANY PEOPLE IN NORTHERN IRELAND ARE WATCHING THE STAND-OFF IN PORTADOWN WONDERING WHETHER IT WILL BE RESOLVED BY ACCOMMODATION OR WHETHER IT WILL END UP BEING ANOTHER BLOODY CHAPTER IN THE BRITISH PROVINCE'S LONG AND VIOLENT HISTORY. (SIGNED)
NEB/ADEN/DW/RAE
05-Jul-98 11:48 AM EDT (1548 UTC)
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Source: Voice of America

[05] NORTHERN IRELAND (L) BY ANDRE DE NESNERA (LONDON)

INTRO: IN NORTHERN IRELAND, THE STAND-OFF CONTINUES BETWEEN PROTESTANTS AND BRITISH SECURITY FORCES IN THE SMALL TOWN OF PORTADOWN, SOUTHWEST OF BELFAST. V-O-A'S ANDRE DE NESNERA REPORTS FROM LONDON.

TEXT: HUNDREDS OF MEMBERS OF THE PROTESTANT 'ORANGE ORDER' REMAIN CAMPED OUTSIDE BARRICADES ERECTED BY BRITISH SECURITY FORCES TO KEEP THEM FROM MARCHING DOWN A CATHOLIC ENCLAVE IN PORTADOWN.

THE BARRICADES WERE BUILT AFTER THE NORTHERN IRELAND 'PARADES COMMISSION' PROHIBITED THE PROTESTANTS FROM PARADING DOWN THEIR TRADITIONAL ROUTE SUNDAY AFTER A CHURCH SERVICE AT DRUMCREE PARISH CHURCH.

'ORANGE ORDER' MEMBERS ATTEMPTED TO WALK DOWN THE CATHOLIC GARVAGHY ROAD, BUT BRITISH SOLDIERS AND POLICE PREVENTED THEM FROM DOING SO. THAT PROMPTED SOME SPORADIC VIOLENCE IN THE BRITISH PROVINCE -- ESPECIALLY IN THE HARDLINE LOYALIST -- OR PRO-BRITISH -- SECTION OF NORTH BELFAST.

PROTESTANT LEADERS HAVE VOWED TO STAY -- PEACEFULLY -- ACROSS FROM THE PORTADOWN BARRICADES UNTIL THEY ARE ALLOWED THROUGH THE CATHOLIC ENCLAVE. BUT BRITISH GOVERNMENT OFFICIALS SAY THEY WILL ENFORCE THE DECISION OF THE 'PARADES COMMISSION' PROHIBITING THE PROTESTANTS FROM MARCHING.

NORTHERN IRELAND'S NEWLY ELECTED FIRST MINISTER AND LEADER OF THE PRO-BRITISH "ULSTER UNIONIST" PARTY -- DAVID TRIMBLE -- TOLD REPORTERS THE PORTADOWN SHOWDOWN COULD HAVE VERY NEGATIVE CONSEQUENCES FOR THE PEACEFUL POLITICAL PROCESS IN THE BRITISH PROVINCE.

I HAVE SAID REPEATEDLY OVER THE LAST FEW WEEKS THAT THIS SITUATION HAS THE CAPACITY TO DESTABILIZE NORTHERN IRELAND. AND IF THIS SITUATION IS NOT RESOLVED SATISFACTORILY, IT COULD PUT AT RISK ALL THE POLITICAL PROGRESS WE HAVE ACHIEVED -- AND WE KNOW THAT THERE ARE ELEMENTS ON BOTH SIDES, WHO ARE TRYING TO EXPLOIT THE SITUATION PRIMARILY FOR THAT REASON.

IN ANNOUNCING THE DECISION, 'PARADES COMMISSION' CHAIRMAN ALASTAIR GRAHAM SAID NO MUSIC WILL BE PLAYED DURING THE MARCH AND IT MUST END EARLY MONDAY MORNING. (EDS: BY 7:30 U-T-C MONDAY MORNING).

THIS WAS A DIFFICULT DECISION. BUT I AM SURE WE HAVE ARRIVED AT THE RIGHT ONE. THE ORMEAU ROAD DECISION IS NOT A SIMPLE TRADE-OFF FOR OUR EARLIER DECISION ON DRUMCREE (PORTADOWN). WE HOPE THAT THIS DECISION WILL BE RESPECTED BY ALL PARTIES AS A GENUINE ATTEMPT TO MAINTAIN MOMENTUM.

MR. GRAHAM RECOGNIZED WHAT HE DESCRIBED AS "THE SENSE OF DEEP HURT" AMONG THE PROTESTANT COMMUNITY -- AND HE SAID THAT WAS TAKEN INTO CONSIDERATION IN ALLOWING THE 'ORANGE ORDER' MARCH DOWN BELFAST'S CATHOLIC LOWER ORMEAU ROAD NEXT MONDAY. (SIGNED)
NEB/ADEN/KL
06-Jul-98 11:08 AM EDT (1508 UTC)
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Source: Voice of America

[06] EURO STOCKS (S ONLY) BY KEVIN LYNCH (LONDON)

INTRO: EUROPE'S MAJOR MARKETS CLOSED MIXED (MONDAY) IN WHAT ONE ANALYST DESCRIBED AS A PRETTY DULL PERFORMANCE. FROM LONDON, KEVIN LYNCH HAS EUROPE'S CLOSING MARKET FIGURES.

TEXT: ONCE AGAIN, GLOOMY NEWS FROM JAPAN, WHERE THE PRIME MINISTER (RYUTARO HASHIMOTO) DENIED HIS GOVERNMENT HAD PLEDGED PERMANENT TAX CUTS, SENT TREMORS THROUGH EUROPE'S BIG MARKETS, BUT BY THE END OF THE DAY TWO OF THE BIG THREE HAD RALLIED TO THE PLUS SIDE. IN LONDON, THE FINANCIAL TIMES 100 INDEX CLOSED LITTLE CHANGED, GAINING JUST TWO-POINTS. IN PARIS, THE CAC-40 CLOSED AT A NEW HIGH, 43-HUNDRED-11, UP SEVEN POINTS. IN FRANKFURT, THE ONLY LOSER OF THE BIG THREE, THE DAX WAS DOWN 19-POINTS.

THE PRICE OF GOLD CLOSED IN LONDON AT 292-DOLLARS, 90-CENTS AN OUNCE, DOWN ONE-DOLLAR, 35CENTS. (SIGNED)
NEB/KL/RAE
06-Jul-98 2:00 PM EDT (1800 UTC)
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Source: Voice of America

[07] NY ECON WRAP (S&L) BY JOE CHAPMAN (NEW YORK)

INTRO: STOCK PRICES IN NEW YORK CLOSED UP NEARLY ONE PERCENT TODAY (MONDAY) IN RELATIVELY LIGHT TRADING. V-O-A'S JOE CHAPMAN REPORTS FROM NEW YORK.

TEXT: THE DOW JONES INDUSTRIAL AVERAGE CLOSED UP 67 POINTS AT NINE-THOUSAND-92 WHILE THE BROADER AND MORE REPRESENTATIVE STANDARD AND POOR'S 500 INDEX WAS UP 11 POINTS AT 11-HUNDRED-57 FOR A RECORD CLOSE.

ANALYSTS SAY INTERNET STOCKS LED THE MARKET WITH LYCOS, AN INTERNET SEARCH ENGINE, CLOSING UP 26 PERCENT ON AN ANNOUNCEMENT OF A TWO-FOR-ONE STOCK SPLIT. YAHOO, ANOTHER SEARCH ENGINE FOR THE COMPUTER NETWORK, JUMPED 15 PERCENT IN PRICE. AMAZON-DOT-COM, AN INTERNET BOOK SELLER, CLOSED UP 13 PERCENT. AMAZON SHARES HAVE GAINED MORE THAN 40 PERCENT IN JUST OVER A WEEK.

ANALYSTS SAY VOLUME WAS RELATIVELY LOW. SOME TRADERS ADDED TIME OFF TO A LONG HOLIDAY WEEKEND, BUT OTHER INVESTORS REMAINED ON THE SIDELINES BECAUSE OF WORRY ABOUT ASIAN ECONOMIC PROBLEMS AND SECOND QUARTER EARNINGS RESULTS THAT WILL BE ANNOUNCED DURING THE COMING WEEK.

ANALYST MICHAEL HILL OF FIRST CALL, A FIRM WHICH SPECIALIZES IN EARNINGS REPORTS, SAYS MORE FIRMS ARE WARNING OF EARNINGS SLOWDOWNS. HE SAYS THAT IS ESPECIALLY TRUE FOR HIGH TECHNOLOGY FIRMS. MR. HILL SAYS WHAT INVESTORS ARE LOOKING FOR IN CORPORATE EARNINGS REPORTS IS EVIDENCE OF WHETHER OR NOT PROFITS WILL REGAIN MOMENTUM.

THE BIG QUESTIONMARK IS, 'IS THERE A RECOVERY IN SIGHT OR ARE WE LOOKING AT STAYING DOWN AT THESE LOW LEVELS FOR AT LEAST ANOTHER QUARTER?' HOPEFULLY SOME OF THE COMMENTS WHEN THEY REPORT THE SECOND QUARTER WILL GET INTO WHAT THE OUTLOOK IS FOR THE THIRD QUARTER.

ANALYSTS AND INVESTMENT FUND MANAGERS SAY THE ECONOMIC TURMOIL IN ASIA HAS CUT INTO PROFITS OF MANY U-S CORPORATIONS, BUT THAT CORPORATIONS THAT FOCUS PRIMARILY ON U-S MARKETS MAY DO BETTER.

ANALYSTS SAY INVESTORS ARE ALSO CONCERNED ABOUT PERCEPTIONS THAT JAPAN IS MOVING TOO CAUTIOUSLY ON ECONOMIC REFORM. STOCK MARKETS HAVE GENERALLY REACTED NEGATIVELY TO JAPAN'S PLANS FOR REFORMING ITS BANKING SYSTEM AND OFFICIAL COMMENTS THAT PERMANENT TAX CUTS ARE NOT A CERTAINTY.(SIGNED)
NEB/PT
NEB/NY/JMC/LSF
06-Jul-98 5:18 PM EDT (2118 UTC)
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Source: Voice of America

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

INTRO: PRESIDENT CLINTON'S TRIP TO CHINA CONTINUES TO BE ASSESSED AS THE NATION RETURNS FROM ITS LONG FOURTH OF JULY, INDEPENDENCE DAY WEEKEND. OTHER TOPICS IN MONDAY'S EDITORIAL COLUMNS INCLUDE: THE UNITED AUTO WORKERS STRIKE AGAINST GENERAL MOTORS; THE C-I-A FAILURE TO DETECT INDIA'S NUCLEAR TESTS; THE DROPPING OF CHARGES AGAINST AN ASSOCIATE OF PRESIDENT CLINTON'S; THIS COUNTRY'S U-N DEBT; AND THE DEVASTATING FIRES IN FLORIDA. NOW, JOINING US WITH SOME QUOTES AND A CLOSER LOOK AT THESE COMMENTARIES IS __________________ AND TODAY'S EDITORIAL DIGEST.

TEXT: "THE PHILADELPHIA INQUIRER" IS CALLING THE PRESIDENT'S TRIP A SUCCESS, BUT WARNS IT SHOULD NOT OBSCURE POLICY DIFFERENCES THAT REMAIN.

VOICE: THE SUCCESSES OF PRESIDENT CLINTON'S NINE-DAY TRIP TO CHINA WERE EASY TO SEE. THEY WERE ON FULL VIEW ON TELEVISION -- HERE AND IN CHINA. MR. CLINTON'S NEW CONFERENCE BACK-AND-FORTH WITH PRESIDENT JIANG ZEMIN AND HIS APPEARANCES BEFORE BEIJING STUDENTS AND ON A SHANGHAI RADIO TALK SHOW BROKE NEW GROUND IN EXPOSING THE CHINESE PUBLIC TO OPEN POLITICAL DISCUSSION. THE PRESIDENT WAS ABLE TO CRITICIZE, ALBEIT GENTLY, CHINESE GOVERNMENT ACTIONS IN TIANANMEN SQUARE AND TIBET AND ON HUMAN RIGHTS. AND MR. CLINTON'S VISITS TO ORDINARY CHINESE GAVE AMERICANS A MORE NUANCED PICTURE OF A COMPLEX COUNTRY. THAT WAS THE UPSIDE. BUT THE VISIT ALSO HAD TROUBLING ASPECTS. THE WHITE HOUSE SPIN, [INTERPRETATION] WITH ITS NEAR-EUPHORIC EMPHASIS ON THE NEW U-S-CHINESE 'PARTNERSHIP,' MAY OVERINFLATE AMERICANS' EXPECTATIONS AND OBSCURE POTENTIAL PROBLEMS. .....[AND] IN PURSUIT OF 'PARTNERSHIP' WITH BEIJING, THE PRESIDENT MAY HAVE UNDERCUT HIS GOAL OF PROMOTING STABILITY IN ASIA.

TEXT: IN "THE WASHINGTON TIMES," THERE IS WORRY ABOUT THE EFFECTS OF THE TRIP ON U-S RELATIONS WITH TAIWAN, ESPECIALLY AS REGARDS MR. CLINTON'S STATEMENT OF U-S POLICY TOWARD THE NATIONALIST CHINESE ISLAND DEMOCRACY.

VOICE: ..... BEIJING WOULD DEARLY HAVE LOVED A WRITTEN COMMUNIQUE TO ADD TO THE 1972, 1979, AND 1982 COMMUNIQUES STATING U-S POLICY ON CHINA AND TAIWAN. THAT THEY DID NOT GET, BUT WHAT MR. CLINTON GAVE INSTEAD WAS A VERBAL STATEMENT SPELLING OUT AMERICAN POLICY IN EXPLICIT DETAIL DURING A ROUND TABLE DISCUSSION IN SHANGHAI. 'WE DON'T SUPPORT INDEPENDENCE FOR TAIWAN; OR TWO CHINA'S; OR ONE TAIWAN, ONE CHINA. AND WE DON'T BELIEVE THAT TAIWAN SHOULD BE A MEMBER IN ANY ORGANIZATION WHICH STATEHOOD IS A REQUIREMENT,' MR. CLINTON SAID. THAT MADE HIM THE FIRST AMERICAN PRESIDENT TO SAY SO PUBLICLY -- AND THAT ON CHINESE SOIL. WHILE BEIJING MUST HAVE BEEN GLEEFUL, ON TAIWAN, WHOSE SECURITY IS DEPENDENT ON THE UNITED STATES, IT WAS CONSIDERED A TRAGEDY. TRULY, TAIWAN, DID NOT DESERVE THIS.

TEXT: THE BIG DOMESTIC STORY DRAWING REACTION IS THE UNITED AUTO WORKERS STRIKE AGAINST TWO GENERAL MOTORS PARTS PLANTS IN FLINT, MICHIGAN. THE STRIKE HAS EFFECTIVELY CLOSED DOWN THE HUGE AUTO MAKERS ENTIRE NORTH AMERICAN OPERATION FOR WEEKS. "THE CHRISTIAN SCIENCE MONITOR" SUGGESTS:

VOICE: IT'S HARD TO SEE ANY WINNERS FROM THIS STRIKE. IDLED AUTO WORKERS HAVE LOST MORE THAN 150-MILLION-DOLLARS IN PAY SO FAR. G-M IS SAID TO BE LOSING 75-MILLION-DOLLARS-A-DAY. CONSUMERS WILL SOON BE LOSING THE OPPORTUNITY TO BUY GM CARS OR TRUCKS THEY MAY PREFER. THAT COULD DAMAGE GM IN THE LONG RUN, AS CUSTOMERS SWITCH THEIR LOYALTIES TO OTHER CARMAKERS. SO WHY DOES THE STRIKE DRAG ON? LARGELY BECAUSE THE ISSUES REVOLVE AROUND 'GLOBALISM,' THE ECONOMIC BYWORD OF THE LATE 20TH CENTURY. BOTH SIDES FEEL THEIR FUTURE HANGS IN THE BALANCE.

TEXT: ON ANOTHER ISSUE, TODAY'S "BOSTON GLOBE" SAYS SOME GOOD IS APPARENTLY COMING FROM THE CENTRAL INTELLIGENCE AGENCY'S FAILURE TO DETECT THOSE INDIAN NUCLEAR TESTS IN MAY.

VOICE: LAST MONTH, A CHAGRINED C-I-A ADMITTED THAT IT HAD NO SPIES IN INDIA ABLE TO TIP OFF THE AGENCY THAT THE NEW GOVERNMENT WAS PLANNING TO EXPLODE A NUCLEAR DEVICE. NOW COMES NEWS THAT THE C-I-A IS BEGINNING THE BIGGEST RECRUITMENT DRIVE IN ITS HISTORY TO BEEF UP ITS CLANDESTINE OPERATIONS, WHICH FELL INTO NEGLECT IN THE POST-COLD WAR RUSH TO CUT THE AGENCY'S BUDGET. /// OPT