Page D1,D4:-
"The US recession is dragging down almost every industry in almost every part of the country and businesses do not expect conditions to improve until late this year at the earliest,according to a Federal Reserve report.
The grim prognosis came amid new signs of deterioration in both the service sector and the job market." The improvement of the job market would need the workers to have marketable skills as elaborated in "Keys for Economic Understanding" www.Amazon.com online book catalog for reference.
"Wall Street analysts and traders said they would not read too much into the rally, which was fueled by gains in shares of energy and reports that the Chinese government might provide further stimulus to its economy.(sic)
Page A10: In crisis, China vows openness and increase stimulus program That sounds like the US scene as well?" We shall see the results to come...
"China will take measures to boost domestic consumption, increase agricultural subsidies and maintain the stabilty of its currency." There is the developments of Sino-American economics in action in the days to come to be reflected in the US economy and other nations when China is going to buy US housing and other things to increase US exports and exports to China by others. "China plans to its stimulus of $586 billion fairly and wisely,similar to the US plans for more equitable distribution of income and wealth. Let us continue to watch the empirical evidence.
Page A14: World leaders have spoken out against rising protectionism,blamed for sparking global trade wars in the 1930s that deepened and prolonged the Great Depression. A case in point is Indonesia that fired their own salvo when US had the provision to win support as part of $787 billion of stimulus package to "Buy American" leading to protectionism and retaliation...
Francis Shieh a.k.a. Xie Shihao,a lifelong student for economics in action with avid zeal.
March 5, 2009 at 12.28 p.m.
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