» 10/02/2008, 00.00
US Senate vote unconvincing for Asian markets
Stock exchanges are down. Uncertainty persists over vote in US House of Representatives. Economists view plan as trivial compared to the enormity of the crisis, a temporary panacea that will not solve the underlying problems.
Asian markets still in negative zone, fear spreads
All Asian exchanges lose ground. US and European rescue plans do not remove concern over a worldwide economic crisis.
01/10/2008 ASIA – UNITED STATES
Small rise but lots of gloom on Asian markets
Tokyo’s stock exchange gains 1 per cent but confidence levels plunge, sign of a gloomy mood. Everyone is waiting for US Senate to vote on a new financial rescue plan, but US public opinion wants offending banks to foot the bill. Economists tell government not to intervene in markets.
30/09/2008 ASIA - U.S.
Depth of the abyss of economic, social, political chaos
The worldwide financial situation was disastrous even before the rejection of the U.S. emergency plan. The Paulson plan for 700 billion dollars is enormous (432,10% of the total U.S. deficit), but it pales in comparison to the mountain of financial paper in circulation, well above 20% of global economic production.
06/10/2008 ASIA - U.S.
Paulson plan: useless and harmful to democracy
The 700 billion dollars approved by the U.S. Senate and House to rescue the American financial system resemble a "sheriff of Nottingham" plan: take from the poor and give to the rich. The plan is harmful, and above all insufficient. Commercial debt, the national budget, and consumption must be reviewed, and especially the monetary system. The silence of the Catholic world.
13/10/2011 CHINA – UNITED STATES
US Senate ready to punish (already declining) Chinese exports
The US upper chamber passes a bill against currency manipulation to stop the wave of low cost Chinese goods flooding the US market. The bill is not expected to get through the lower house. Xinhua warns the move might trigger a trade war. Meanwhile, Chinese exports decline.
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