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Prime Minister Wen Jiabao said Beijing's stimulus measures are helping consumer spending and growth, and while he warned of some 'prolonged difficulties' as the financial crisis spreads, foreign auto makers and other manufacturers already are seeing an unexpected rebound in sales in China....
Much has been discussed on the root causes for the current financial crisis, including but not limited to lessons on monetary policy, financial sector regulations, accounting rules. This note aims to stimulate debate and discussions on some of the pro-cyclical features in the system, possible remedial measures, and how monetary ...
The outbreak of the current crisis and its spillover in the world confronted us with the long existing but still unanswered question, i.e., what kind of international reserve currency do we need to secure global financial stability and facilitate world economic growth, which was one of the purposes for establishing the IMF? There were various institutional arrangements in an attempt to find a solution, including the Silver Standard, the Gold Standard, the Gold Exchange Standard and the Bretton Woods system. The above issue, however, as the ongoing financial crisis demonstrates, is far from being solved, and has become even more severe due to the inherent weaknesses of the current international monetary system. ...
Stocks jump as Obama administration moves against bad bank assets at heart of financial crisis ...
We are in the midst of a global crisis that will unquestionably rank as the most virulent since the 1930s. It will eventually subside and pass into history. But how the interacting and reinforcing causes and effects of this severe contraction are interpreted will shape the reconfiguration of our currently disabled global financial system....
Warren Buffett's Berkshire Hathaway on Saturday released its annual letter, known well for its folksy writing and wit. Here are some of the highlights: ...
The U.S. government is boosting its investment in embattled insurer American International Group Inc., providing the company with an additional $30 billion in capital on an as-needed basis, but also exposing U.S. taxpayers to additional risk....
Investors in gold may feel as if they scaled a steep mountain in 2008, only to proceed to slide right back down the other side. Almost a year ago, gold soared to a record $1,002 per ounce, following a similar trajectory of other commodities. But since then, gold has lost some ...
