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Wednesday, August 19, 1998

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  • Meltdown of the Ruble

    This week, Russia announced it would devalue its currency, allowing the ruble to fall against the dollar. At the same time, Russia imposed delays on the repayment of billions of dollars in debt. The Clinton Administration defended the action, claiming that Russia had little choice if it was to avoid economic collapse. However, many mainstream newspapers report that the devaluation will hurt Russian consumers while western banks and corporate interests will be largely unaffected.

  • Hyundai Strike

    South Korean riot police abruptly withdrew from Hyundai Motors’ auto plant Tuesday after they were confronted by striking workers wielding lead pipes and surrounded by their families. The ranks of police were backed by tear gas, water cannons and bulldozers.

  • India Bans Quinacrine

    The Government of India has banned the use of Quinacrine, a drug used to sterilize women. While no government has officially approved Quinacrine’s use, India becomes the first to issue an explicit ban. The action comes six months after women’s groups filed a public interest lawsuit. Quinacrine was originally used as a malaria drug, but has since been used to sterilize tens of thousands of women in developing countries.

  • Corporate Classrooms

    How much influence do corporations have in schools? Krystle Newquist will be entering ninth grade in a few weeks. But earlier this year, she was kicked off her little league team for refusing to wear the logo of the team’s sponsor — a tavern called "The Carousel." Krystle’s grandfather had suffered from alcoholism and cirrhosis of the liver.