Word: suharto
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This is the second year of living dangerously for Indonesian President Suharto. During the first, in 1965, he coolly rode out a coup, followed by massacres that killed 500,000 people, and emerged as the country's leader. In this one, economic ruin threatens to topple him. Yet as the rupiah plunges into worthlessness, the nation's debts go unpaid, the International Monetary Fund suspends emergency aid, and students riot in universities, he blithely has himself reappointed to his seventh five-year term as President...
Mondale's mission stemmed from growing concern that Suharto could drive Indonesia into a collapse that would flood its neighbors with refugees. One appeal came from Singapore's Prime Minister Goh Chok Tong, who called Clinton to urge the U.S. to intervene. That helped trigger a Feb. 18 White House session in which Treasury Secretary Robert Rubin proposed Mondale, a former ambassador to Japan, as Clinton's envoy. Participants agreed that Mondale had the clout to pressure Suharto while reassuring him that the U.S. remains his friend...
...While Suharto has resisted the bitter medicine of the IMF program, Japan is deaf to foreign calls for deeper tax cuts to rouse its long dormant economy, traditionally the engine of growth for the Pacific Rim. Federal Reserve Chairman Alan Greenspan warned Congress last week that the Japanese economy was "sinking." Asked whether Japan was doing enough to stimulate the economy, the usually circumspect Greenspan replied, "No, I think...
...like Suharto, who is about to have himself selected to his seventh five-year term, Japanese Prime Minister Ryutaro Hashimoto can ill afford to offend political cronies. Hashimoto vowed last year to slash Japan's outsize budget deficit, which would rule out any substantial stimulus package. Yet without a healthy Japan to buy their exports, other Asian countries will find it even harder to resume the prosperity they once enjoyed. --By John Greenwald. Reported by Bruce van Voorst/Washington
JAKARTA: Indonesia's legislature handed President Suharto "broad new powers" Monday to crack down on protests over the economic crisis, which is made worse by fear that the aging strongman plans to defy IMF conditions for a bailout. Those powers are reported to include the right to dissolve parliament and ban opposition parties. Since Suharto already controls parliament, the military and even those opposition parties that he allows to operate, the legislature clearly had some difficulty in coming up with any powers that Suharto hadn't already claimed...