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Socialist Realism

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Dennis L. Fiddle

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Mar 14, 1998, 3:00:00 AM3/14/98
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THIS WEEK

Socialist Realism


A s China's economic tsar, Zhu Rongji, prepared to become premier, Beijing
announced ambitious plans to downsize government, strengthen banks and shore
up economic growth. It remains to be seen how fast the measures will be
implemented in the face of rising unemployment and bureaucratic
resistance. But
Beijing's bold initiatives contrasted with the manoeuvring in
Indonesia, where
President Suharto was re-elected by an assembly even more obedient than
China's
parliament. Suharto continued to defy the IMF, rattling regional markets.
Similarly, signs that Kuala Lumpur would bail out well-connected firms shook
the ringgit. India, meanwhile, was still waiting for a government; the
president
invited the BJP to prove it could command a majority.

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--
dfi...@mn.uswest.net (Dennis L. Fiddle)
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