Clinton confirms China's jet order
President Clinton announced that China would buy 50 Boeing jetliners for about 3 billion dollars, a move he said would guard tens of thousands of American jobs and modernize China’s passenger fleet. The signing occurred at the Commerce Department with Boeing’s Phil Condit and U S officials present. He noted trade as a key driver of growth and called China the fastest growing market for U.S. goods.
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Greenspan signals worry over contagion and markets
Federal Reserve Chair Alan Greenspan cautioned about global contagion from Southeast Asia to Latin America as stocks fell sharply and volatility persisted. He suggested the downturn could dampen growth while noting no imminent rate hike, amid ongoing market turmoil and banking troubles.
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