Pacific Tribune
Gathering Art and Lifestyle News about Issues for the Pacific Basin
more bad news for Asia
Wednesday, March 19th, 2008
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Coming financial crisis will make times much harder, warns economist
By LALA RIMANDO
abs-cbnNEWS.com/NewsbreakExpect the coming months to be tough, warned an economics professor. And the tough times may start next month.
“It’s going to be a hard year for us. Everyone will be affected. And the hurt will be deepest among the low-income families,” Ernesto Pernia, a professor of economics at the University of the Philippines and former economic chief at the Asian Development Bank told abs-cbnnews.com/Newsbreak in an interview.
China won’t curb CPI at cost of global economy
Wednesday, March 12th, 2008
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My, my, what a frightful mess we have got ourselves into Vern. Our fates are all inextricably entwined in this global economy.
China won’t curb CPI at cost of global economy
BEIJING — China’s Commerce Minister Chen Deming pledged on Wednesday that the country will not curb consumer price index (CPI) rises at the expense of affecting the global market.”As a country with a huge population, every move China makes will have impact on the global market,” said Chen at a press conference held on the sidelines of the annual session of the country’s parliament.
UPDATE: The Housing Market is Nowhere Near Bottom
Friday, March 7th, 2008
China may fail to pull US economy out of swamp - oops!
Saturday, February 16th, 2008
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full story;China may fail to pull US economy out of swamp - Pravda.Ru
As the industrialized world slides toward possible recession, could still-booming developing nations come to its aid? Can China save America?
Wall Street drops; recession speculation rekindled
Tuesday, February 5th, 2008
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Wall Street drops; recession speculation rekindled - The Honolulu Advertiser -More here
NEW YORK — Wall Street pulled back sharply Tuesday after an unexpected contraction in the service sector last month rekindled investors’ worry that the economy is headed for recession.The Institute for Supply Management’s report on the service sector, which accounts for about two-thirds of the economy, came in well short of Wall Street’s forecast. The index dropped to 44.6 in January from a revised reading of 54.4 in December. Analysts had been expecting another month of growth.
A reading below 50 indicates contraction; it was the first service-sector contraction in more than four and a half years.
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