Thursday, September 18, 2008

Economy China

From Steve over at the Pine River World News.

If people are smart, they will understand this article. If not please stick your head where the sun does not shine. Wake up people. All countries in the world are tied together in one big WORLD ECONOMY!.
Thanks Steve.

"18 September 2008
The American "financial tsunami" hits Asia"
Pine River World News

The American financial crisis has sent shockwaves throughout Asia over the past few days as governments, banks and corporations scramble to cope with plunging share prices, international financial turmoil and the prospects of a serious downturn in the U.S. and other major economies.

All eyes were on China, which has functioned as the main economic motor for growth throughout the region. Within hours of Lehman Brothers filing for bankruptcy, the Chinese central bank cut the official interest rate for the first time in six years, from 5.85 to 5.31 percent. The decision signalled an end to Beijing's tight monetary policy to fight inflation and a renewed focus on economic growth to avoid widespread unemployment and social unrest.



Wow, "to fight inflation and a renewed focus on economic growth to avoid widespread unemployment? " Where have I heard that before, not from the left, that's for sure.

1 comment:

Anonymous said...

Paul, glad you found the article of interest. Here's a direct link to the story if your readers are interested.
The American "financial tsunami" hits Asia