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What can be done about it? Mexico finally has an organized-crime law on the books, allowing wiretapping and seizure of criminal property. And last month Zedillo proposed stringent new anticrime measures that make it easier to fire bad cops. But in an interview last week with TIME, Attorney General Jorge Madrazo Cuellar, a former human-rights ombudsman with little prosecutorial experience, conceded that "Mexico needs a new culture of legality." He plans to announce sweeping new provisions for international participation in the recruiting and training of all Mexican federal police, not just elite antidrug cops. But Madrazo's immediate...
...Wall Street is worried; two weeks ago Kim was running on a promise to renegotiate the stringent terms IMF bailout. He has since backed down, and the IMF says he is now on board. In an election that was one of the closest in the country's history, neither candidate could promise to dispel the IMF's storm cloud. At least Kim could tell voters he had done nothing to bring it over their heads...
...Balance. But now he must sell an Administration approach he once would have called too cautious--one that is sure to get hammered by the greener-than-thou Europeans. If he comes home without an agreement, his environmentalist allies will jeer; if the U.S. agrees to a more stringent timetable to reduce emissions, the big-money industry and labor interests he needs in 2000 will scream. Which is why Gore's political advisers tried to talk him out of going to Kyoto, cornering him in a White House hallway a week before the conference began. Gore shut the argument down...
...economic elites, who are expected to dismantle the business culture that made them rich even while it dragged their nations into crisis. In the Asian Pacific, where much of the current trouble was brought on by buddy-buddy capitalism and closed-door banking practices, the fund wants more stringent borrowing rules, more open bank reporting and freer trade policies...
...accepting the money, South Korea agreed to stringent IMF conditions. The 1998 growth rate must be cut to 3 percent; inflation must be kept below 5 percent; and the current-account deficit must be slashed to within 1 percent of GDP. There's precious little sugar with this medicine ? Seoul must maintain flexible monetary policies and allow temporary hikes in interest rates, says the IMF. A final bitter blow is that foreign investors will be allowed to increase their shareholdings in Korean companies to 50 percent this year ? up from the 26 percent limit currently allowed by the government...