Australian cabinet to discuss Asian crisis<\/p>\n
SYDNEY (AFP): Growing anxiety over the Asian financial crisis
\nnow damaging Australia's currency and threatening employment
\ngrowth will be discussed by a cabinet meeting next week,
\nofficials said yesterday.<\/p>\n
Prime Minister John Howard, who will chair the meeting, will
\ncanvass options for minimizing the impact of the Asian turmoil on
\nAustralia.<\/p>\n
He is also expected to report on his telephone call to
\nIndonesian President Soeharto this week to discuss the crisis.<\/p>\n
The cabinet meeting, to be held Monday and Tuesday, marks
\nHoward's return from his summer holiday which he interrupted to
\nurge Soeharto to comply with the terms of an International
\nMonetary Fund bail-out package to rescue Indonesia's economy.<\/p>\n
It will be the first cabinet meeting in what is expected to be
\nan election year and ministers want to start to map out a
\nstrategy to try to reverse the poor end-of-year opinion polls.<\/p>\n
By the end of 1997, the government was suffering an electoral
\nbacklash after a string of ministerial resignations, gaffes and
\npolicy reversals.<\/p>\n
The government has also pledged to call an election if the
\nSenate blocks its legislation to dilute the landrights to which
\nthe High Court ruled aborigines were entitled in its so-called
\nWik ruling.<\/p>\n
Although the government believes the Australian economy to be
\nstrong enough to withstand the worst effects of the Asian crisis,
\nit concedes that economic growth, in particular employment
\ngrowth, will be slowed by it.<\/p>\n
While Indonesia, Thailand and South Korea are bearing the
\nbrunt of the crisis, the relatively robust economies of Hong
\nKong, Singapore and Taiwan have been dragged into it along with
\nAustralia.<\/p>\n
Deputy Prime Minister and Trade Minister Tim Fischer told
\nreporters the cabinet would discuss the latest information on the
\nimpact of the crisis on Australia, using trade figures being
\nassessed by his office.<\/p>\n
He said the cabinet would also discuss routine business, the
\neconomic scene and the start of a busy 1998.<\/p>\n
Asked if it was also a pre-election pep-talk, he said: \"It
\ncould be seen as that, this is true. Yes, it will be a chance to
\nget ready for all that 1998 might provide.\"<\/p>\n
He also responded with a firm \"yes\" to a question on whether
\nthe government would call an early if the Senate again rejected
\nthe Wik Native Title Amendment bill.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/australian-cabinet-to-discuss-asian-crisis-1447893297",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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