Clinton Bill

Asia's economic crisis will force an end to South Korea's chaebol economic system, bring needed reforms to other Asian countries and spur changes at the International Monetary Fund, Deputy U.S. Treasury Secretary Lawrence Summers said. Offering the most explicit administration criticism of the IMF to date, Summers said the global lender of last resort itself needs reform. The IMF "needs to be better governed.

President Clinton, seeking to shore up his standing in the politically vital Midwest, staked out a firm position Tuesday against Republican proposals to eliminate federal subsidies to farmers. "I don't believe we ought to destroy the farm-support program if we want to keep the family farm," Clinton said as he opened a conference on rural issues at Iowa State University.