Page A1: Bailout Pact Gains Momentum. But I heard from the Radio that agreement had been reached as of 1.40 p.m. on Sept.25th so it will be a matter of time when such plan becomes law. Maybe this weekend or next week? Let us see the headlines in media.
Page A12: China aims to display prowness with spacewalk: China sees mission as image-builder at home and abroad. That is not untrue. However,such success will be the achievement for humanity and China is willing to cooperate with USA in space science research for mutual benefit. Headlines in the next few days world-wide. I bet.
Page A14: Chavez doubles value of Joint Investment Fund with China i.e. $12 billion in capital. Oil to China will be in the making.
NYTimes Page C14: Sources from Central Banks in Asia:
Estimates of the interest that China earns on its $1.8 trillion in foreign exchange reserve range from $13 billion to $18 billion a quarter. Food for thoughts about China's influence with such large amount of foreign exchange reserves. The reader can be the analyst and have your own scenario re the financial clout of China.
Francis Shieh a.k.a. Xie Shihao, a lifelong learner of Sino-American Economics.
Sept. 25, 2008 at 3 p.m.
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