European Stars and Stripes (Newspaper) - June 30, 1994, Darmstadt, Hesse                                Thursday june 30, 1994 the stars and stripes Page 5prosecution to Lay out Simpson Case of. Simpson right sits in a los Angeles court times Day with his Lead defense attorney Robert Shapiro. Los Angeles apr . Simpson s preliminary hearing will serve As a Legal dress rehearsal for his murder trial shining the Light of Public scrutiny on the prosecutions evidence for the first Lime. Unlike the average felony Case today s hearing Isnit Likely to end with a Pica bargain or tic charges being dismissed Legal experts say. The hearing could show that sonic evidence reported in the Media never existed which would be a Boon to the defense. Simpsons Lead attorney Robert Shapiro apparently sees an advantage in Quick action he insisted the hearing take place As soon As possible. A a the faster the prosecutors work the More Likely they arc to make mistakes a said Loyola University Law professor Laurie Levenson a former Federal prosecutor. Levenson said Shapiro a insistence on having the hearing As soon As possible forced prosecutors to show their hand without the Benefit of Long weeks of analysis. / prosecutors May not have All their scientific evidence ready and they May choose to hold Back witnesses who done to want to testify twice Levenson said. But she said the hearing nonetheless w ill give the defense Quot a dress rehearsal for the  Lead prosecutor Marcia Clark said it would probably take a week to present her Case which includes about 60 pieces of physical evidence Shapiro had no estimate of How Long the defense would need. Simpson has pleaded innocent to murdering his sex wife Nicole Brown Simpson and her Friend Ronald Goldman they were stabbed and slashed to death outside her condominium june 12. In preliminary hearings a municipal court judge listens to evidence then decides if the defendant should be tried. The process is designed to ensure that enough evidence exists to justify a costly and time consuming trial. A the prosecution bears the Burden of establishing that its More Likely than not that the defendant committed the crime a Levenson said. A often a trial in t necessary. In California 95 percent of felony cases end with the defendant pleading guilty frequently during the preliminary hearing said James m. Vesper of the California Center for judicial education and research Shapiro acknowledged that almost All defendants who Complete preliminary hearings end up going to trial. A defense option at preliminary hearings is the a affirmative defense a a Chance to answer pros Ccu Tion evidence with defense witnesses. In rare cases a defendant May testify. Shapiro has said he is considering calling witnesses but Legal experts said that was unlikely. A a it Doc set t get you anywhere in the preliminary hearing a said Peter Keane chief Deputy san Francisco Public defender. A fall it does is tip your hand and allow the prosecutor to have a dry run at probing your defense. This is unusual and very  the alternative to the preliminary hearing is the secret grand jury which hears prosecution evidence behind closed doors and returns indictments. High profile cases such As the Mcnac Nycz slayings and the Rodney King police beating were handled with indictments to avoid lengthy preliminary hearings. Prosecutors were derailed last week in their attempt to use a grand jury in the Simpson Case a judge aborted the hearings when he determined that the panellists May have been contaminated by publicity related to the release of recordings of 911 Calls that Nicole Simpson made in october during a rampage by her former . Keeps firm grip on top debtor position Washington a the United states cemented its position As the largest debtor nation last year in Hock to the rest of the world to the tune of $555.7 billion. The Commerce department said tuesday that americans net debtor position worsened by 9.4 percent from a revised 1992 level of $507.94 billion As foreign holdings in the United states grew More than . Assets abroad. Analysts said that the new report was a Stark reminder that foreigners have a growing influence Over americans economic Fate. They said this influence is showing up in the current sell off of the Dollar that has sent the currency a value plunging to a Post War Low against the japanese yen. A we have Jos t control of our currency and our credit markets to foreigners and speculators a said Lawrence Chimerine chief economist at the economic strategy Institute a Washington think tank. A if you keep running huge Trade deficits at a time when no one wants to hold dollars then you Are going to put pressure on your  Britain retained its spot As the second largest foreign investor with $95.42 billion an increase of 7.1 percent from 1992. As recently As 1986, the United states was Stilt considered a net creditor country with $34.6 billion More in assets overseas than foreigners owned in this country if the assets were valued at the current Cost of replacement. However in 1987 the United states crossed Over the line to become a net debtor country for the first time since before world War i. Simply put that Means that foreigners now own More in . Corporations stocks Bonds and real estate than americans own in overseas assets. The total net debtor figure is in a classic sense not a debt since it includes not Only Bank Loans but also All forms of investment. However it does represent the amount that would have to be produced if for some reason foreigners suddenly decided to liquidate All of their . Holdings. Analysts said that the current pressure facing the Dollar indicates that Many foreign investors in the . Stock and Bond markets particularly the japanese have been cashing in those investments at a greater rate this year and transferring their Money to other currencies. A the Dollar is periodically vulnerable to these kinds of Selling Waves because the United states requires a continuous inflow of foreign investment to offset its appetite for imports a said Bruce Stcin Berg an economist at Merrill Lynch in new York. Americans fall from the worlds largest creditor country at the beginning of the 1980s to the largest debtor nation is a direct result of the huge Trade deficits the United slates began running up in 1982. Americans transferred billions of dollars to foreigners to pay for imported cars television sets and other items and that Money came Back to America in investments in everything front Treasury securities to Hollywood movie studios. For 1994, the report showed that foreigners holdings in America Rose by $268.6 billion to $2,926 trillion while american assets abroad increased by $220.84 billion to $2,370 trillion. The difference Between foreign holdings and american holdings a $555.73 billion a is America s net debtor position As determined by the current Cost of replacing Plant Ana equipment and other tangible assets. The government also said the japanese retained their standing As the largest Holder of direct . Investments defined As ownership of 10 percent or More of a company. However Trie japanese figure for 1993, $96.21 billion was a 1.4 percent decline from the 1992 figure. Japanese investors have been growing disenchanted with the United states As a place to put their Money because of huge losses in recent  plane skids off runway during Landing Glasgow Scotland apr a four engine Royal air Force Jet piloted by Prince Charles skidded off the runway wednesday after a tire blew when the plane landed Buckingham Palace said. The Palace spokeswoman said no one was Hurt in the incident at Islay an inner hebrides Island off the West coast of Scotland. The bae 146 skidded off the 5,000-foot Asphalt runway onto the grass and ended up at a 90-Degrce Angle to the runway said the spokeswoman. A ministry of defense spokesman said 11 people including the Prince were on the plane. The plane which is part of the Queens flight was not seriously damaged the spokesman said. Socialist chosen to Lead Japan Tokyo apr after a bruising Power struggle that left several political parties in disarray parliament on wednesday named socialist chairman Tomiichi Murayama As Japan a next prime minister Murayama the first socialist Leader since 1948 to serve As Japan a prime minister will head a coalition dominated by Japan a largest party the Liberal democrats the party ruled the country from 1955 until it was forced from Power last summer. Meeting just hours before the end of its current session wednesday parliaments 511-seat lower House elected Murayama prime minister 261-214. As Japan a fourth prime minister in a year he succeeds Tsutomu hat a forced to resign because his coalition lacked a majority in parliament. A i plan to do my Best a Murayama said in Brief remarks shortly after the vote. A thank you All for your support a Murayama a selection provided a temporary respite from the political confusion that has Hamstrung Japan a leadership since the Liberal democrats lost Power. But the vote installed a leadership deeply divided. Since the nine month term of Japan a last socialist prime minister Tetsu Katayama 46 years ago the main business of the socialists has been to oppose the Liberal democratic party. The lip was pro business the socialists were pro labor. The lip supported the United states the socialists sympathized with the soviet Union. Outnumbered by the larger Liberal democrats Murayama a government is unlikely to make major changes in Japan a economic and foreign policies. It is Likely to be Brief. Murayama said before the vote that he planned to dissolve parliament and Call general elections. \