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July 28, 1989 - Image 18

Resource type:
Text
Publication:
The Detroit Jewish News, 1989-07-28

Disclaimer: Computer generated plain text may have errors. Read more about this.

I NEWS I

Israeli Workers

HESS

Continued from Page 1

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enterprises. Shopping centers
were open and did a thriving
business with the idle
workers.
During the strike, some
5,000 local trades union
representatives held a mass
demonstration in front of the
Knesset and other govern-
ment buildings.
What makes the current
economic crisis one of Israel's
worst ever are the anguished
calls for change from the bot-
tom, as well _as the top.
Unemployment is concen-
trated within the weaker
segments of Israeli society,
particularly in the develop-
ment towns.
Peres' response to these ap-
peals is a plan to finance pro-
jects to construct new roads
and schools, with the hope of
creating 1,000 new jobs.
Peres also is calling for
liberalizing tax legislation to
encourage corporate mergers,
financial aid to struggling
firms, tax exemptions and
bank loans.
Measures will be taken to
offer incentives for the
unemployed to seek out jobs
actively and not suffice with

unemployment pay offered by
the government.
One such incentive will be
an amendment to the
unemployment compensation
policy requiring workers to
take jobs up to 37 miles from
their homes.
The catch to the plan is that
it presents Israel with the
traditional tough choice bet-
ween unemployment and
inflation.
Peres said last week that
the additional burden of his
plan on the national budget
would be "marginal."
But Michael Bruno, the
governor of the Bank of
Israel, warned that a diver-
sion of $200 million from the
original budget would speed
up inflation, which was suc-
cessfully curbed in the past
few years at great effort.
The crisis also revived the
traditional debate between
the libertarian school among
economists, which advocates
minimum government in-
tervention in the economy,
and the socialist approach,
which believes government
spending is a panacea for the
nation's ills.

Chinese Uprising

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pelled, Pessin told the
Chinese government the VOA
does not report rumors.
Government officials rejected
his response and gave him 72
hours to leave the country.
"Before the pro-democracy
movement, covering China
was interesting in a boring
sort of way," Pessin said. "I
covered subjects like economic
reform, crime, agricultural
production and foreign trade.
"The recent events rekindl-
ed my interest and made it
worth my while," Pessin said.
"As soon as it became fun and
interesting, I was cut off. I
covered all the buildup and

then I was shot out of the
water. I would like to have
covered the fallout."
For a week after his expul-
sion, Pessin stayed in Hong
Kong while his wife, Audrey
Kahn, wrapped up their
China business in Beijing.
She and their 1-year-old son,
Max, then joined him in Hong
Kong.
They returned to the
United States last week, stop-
ping briefly in Pessin's
hometown.
A 1973 graduate of Oak
Park High School, Pessin was
a member of Congregation
13'nai Moshe, where he was a

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