SSN

    When asked for an opinion regarding the power shift in China, prominent Tufts University international relations professor and Asian affairs expert Adrian Mann stated that great "political instability" lay ahead and that "there is a very good chance that the power struggle may lead to a Soviet-style breakup of China," a view shared by many senior White House political advisers.

    The President, who is currently vacationing at Camp David, issued a statement earlier today saying that "the United States offers her sincere condolences to the people of China on the loss of their esteemed leader" and that "we have every confidence that the new Chinese leadership will assume office with the minimum of disturbance." When asked the President's position on the possible power struggle within the Chinese government, a White House aide stated that "the President is watching with great interest."

    United Fuels Corp. discovers oil, stock soars

    July 21, 1997

    Web posted at: 2:00 P.M. EST (1900 GMT)

    From New York financial correspondent Bill Mossette

    NEW YORK (TCNfn)-A spokesman for United Fuels Corporation stated today that the company had recently located a large and, until now, undiscovered oil deposit six miles from Mischief Reef, one of the Spratly Islands chain located in the South China Sea.

    The deposit is thought to be the largest of its type yet discovered, with a conservative estimated yield of close to one trillion barrels. This information caused a massive surge in United Fuels stock, which peaked today at eighty-nine dollars a share, up nearly 200 percent. Experts predict that the stock will continue to skyrocket if the find is fully substantiated.

    However, many financial advisers are wary of investing in United on the basis of this new find, due to the political instability surrounding the area in which the oil lies. The Spratly Islands have long been contested, with China, Vietnam, Taiwan and other neighboring countries all claiming sovereignty, Wall Street experts say that the oil find will be contested by the governments of the aforementioned countries, among others, and that it may be years before such disagreements may be resolved. During this time, of course, United Fuels Corporation will be unable to drill in the area.

    Nevertheless, United has already started to build a drilling platform at the site, staging construction from the prospecting ship that located the enormous oil deposit, Benthic Adventure.

    Coup in China, Li takes control

    July 23, 1997

    Web posted at: 3:00 p.m. EST (2000 GMT)

    From Washington chief correspondent Michael Flasetti