Globalizing the crisis response: Looming is an even more virulent(actively poisonous) form of contagion: decreased level of economic activity because of contracting trade flows. Emerging markets and developing nations will face lower exports and less growth. China will experience a sharp slowdown because of its heavy reliance on overseas markets. Unemployment will soar almost everywhere.
China has room for fiscal expansion while Europe could ease monetary policy. The United States can combine the two. The traditional Group of Seven industrial nations must be joined by the chief emerging markets, particularly China.(China is doing well)
This week's IMF conclave offers a unique oppotunity to add a critical international dimension to the crisis response.
By C. Fred Bergsten, director of the Peterson Institute for International Economics, was assistant Treasury secretary for international affairs from 1977 to 1981.
FED cut interest rate to 1.5% to make it easier for banks or investors to borrow as an emergency measure as per online CNN news release this morning.
Business section on page D1: Spar trip fuels fury on Hill:
$1,600 per night for the Presidential suite and the Royal Suite.
$23,380 at the spa on unitemized treatments that cost $210 apiece.
$6,939 spent at the golf course.
$147,000 for banquets.
$443,000- the Grand Total.
Food for thoughts: Executives were found wining and dining at the most exclusive resorts in the nation. Whether any of this makes sense?
My comment: Live it up at the expense of whom? Thanks for your thoughts.
Francis Shieh a.k.a. Xie Shihao, a graduate student from Shanghai, China in 1947 and keep learning the American way of life with scholarly innocence and naivete.
October 8, 2008 at 10 a.m.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment