★…about Russia

Prime minister Stepacin is a happy person, at least for the time being. Just a brief visit to Washington and a sole discussion with highbrows of IMF was sufficient for him to obtain the assurance of additional 4.5Billion USD credit. Everybody in the West knows that the whole Russia is a bottomless barrel, however cannot but keep on pumping money, not so much with a new hope, but it simply cannot do otherwise. At least, it has avoided the previous case where the credit completely disappeared in the pockets of various oligarchs, and the rest for the support of collapsing rouble, it has avoided another transfer, but adopted a simple offset formula with old debts.

Meanwhile, the power struggles in Russia keep on intensifying. Recently, the Central Bank has suspend the license to the leading banks including UNIEXIM, PROMSTROYis merely to be regarded as a 'reshuffling' of power balance of the country dominated by various oligarchs who are financing the campaign of presidency election next year.

Meanwhile, the tank parade　of Belgrade has proven the fundamental change of actual lame-duck situation of Eltsin　and his government、showing who is now really taking over the power.　After Kosovo war, Russia has definitely changed its directives, and started to move, slowly but steadily, to the totalitarian system, dreamed by the anti-reformists, and in fact by the majority of its citizen. For sure, not a single positive sign will be seen in this country before the erection of the new president.

★…about China

The recent hysteric mood of Peijing government toward repression of Guan Dong move strangely remembers the past story of Tai Ping revolution during the final stage of Chin regime; in fact, Djang's government is in a panic due ever deteriorating economic situation of the country, and the resulting steep increase of social insecurity. It is quite natural that USA is fully backing up the move, since the spiritual leader lives in New York.

The newest figures regarding China's economy is, though a great part cosmetic, shows several alarming signs. Most important ones are the considerable drop of both foreign and inland investments on one hand, and the lack of consumption. Especially, foreign investment shows no sign of recover, as investors are completely discouraged to see no reform results, and the desperate trial of Peijing to stimulate inland investment and consumer spending don't bring any results anymore. Whereas sereral Asian countries have started to take upward trend (such as Korea, Thailand), the downward trend of China will accelerate in the coming months.

★…about Middel East

The nomination of Barak as new president of Israel implicates a 100% change of situation in the Middle East, and its key factor is Syria. Based on a precarious government formation, he realises that his main card to play is the conclusion of peace treaty with Syria, whereas to put aside the Palestinian and Lebanese problems which are of minor importance for him. Meanwhile, recognizing his physical limit and being pressed to recover its key position in Middle East, President Assad of Syria is multiplying his usual subtle maneuver. Whereas sending unusually friendly and comprehensive signals to the new tentative of peace to President Barak, he recently visited Moscow for the first time after the collapse of USSR, his traditional ally, to re-ascertain his position by concluding various cooperation agreements, such as arms supply, and also visited Jordania for the first time since Gulf War to conclude various cooperation agreements including the harmomised use of water source. The sudden cancellation of his visit to Marakesh fror the funeral ceremony of King Hassan II where Barak expected him for a historical meeting, was one of typical tactic of Assad to show that he wants to remain the man to dictate the process.

★….about Africa

A fundamental change is being seen on the position of Sudan, which has been internationally recognized as a ' nest of terrorism' over a decade. The identification of important oil resources, and the intensification of civil wars in other areas like Uganda,Congo, Ethyopia, etc., has indeed allowed President Bashir to ascertain a position as Peacemaker of Africa, alongside with his old friend Khadafi.

★…..about Australia

Traditionally a very passive country as far as politics is concerned, Australia suddently is coming up into the international scene. The key factor is the unstable situation of Indonesia, where Australia for the first time is clearly supporting the independence move of East Timol facing his country. Also, intensive diplomatic approaches to China and North Korea were noted recently.

★….about Switzerland

―Slowly recovering from the 'Sion Shock', Switzerland is celebrating its one of most unique national events, La fete des Vignerons (the Vignards Fest) which takes place every 25 years in Vevey. The Fest is organized by 5,000 participants of all villages who are members of the honorable Confreries de Vignerons (Vignard's association, existing since 17th Century), who have been reharsing day and night since May the every piece of the Show, which represents the 4 seasons of Vignard's yearly activities.

During the fest, all 35 wine cellars of the region will be in full operation to support theevent.

―The ''Iron Woman confronts the Russian oligaths
The leader of ''Gang of five'', Boris Beresovsky has perhaps recovered his position in Moscow through intensive assistance of President Eltstin, but has overlooked the influence of the mos powerful woman of Switzerland. Already being the most preferred target of the Italian Mafias through the Mano Pulite operation in full tandem of the famous ex-prosecutor Pietro, Mrs. Carla Del Ponte, the General Attorney of Switzlerland is the only person in Switzerland escourted during 24 hours by important numbers of body guards. And, nothing stops her from her conviction. She has now announced a fullscale investigation of Beresovsky and Borodin, another king of Russian intrigues, heading the Presidency office since the time of USSR, on their dubious financial operations through their Swiss companies……………

★….about Japan

Daisan Sector… a national flop?
Ex-prime ministor Nakasone was confident to become the national hero of reform, when he announced a vast program of deregulation. Creation of Ezaki mission for trade liberalisation, and of 3,000 Daisan Sectors(DS), companies jointly financed by public and private owners, were among others the main events. Unfortunately, both resulted in a tragic flop. Among 3,000 DS, meanwhile increased to more than 9,000, employing over 200,000 people, the majority are in red, or even in bankrupt. Typical case is Osaka:municipality invested \107billion in 26 DS to develop bay areas, new airport,trade centers etc. Result is….nearly all of them in the red!

There was of course a misfortune, that shortly after the set up of DS, Japan underwent the blast of economy bubbles. Yet, the key reason of the flop is the disastrous management, lead by completely wrong people. Instead of placing experienced businessmen at key positions, almost all of these DS are headed by municipal government OBs who have never heard in his life what a sound management shoud look like. Ministery of Internal Affairs have recently decreed new guidelines for DS with the hope to effectuate fundamental restructuring measures, but there is much fear that this will be even tougher than what is going on in the financial world.

(August, 1, 1999)