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Voice of America, 00-07-11
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
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