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Bernanke cautious on US economic recovery

Bernanke defends for US Fed´s actions during financial crisis

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China benefits from pro-growth policies in 2009

2009 Global CEO forum focus on post recession economy

Coordinated effort to save world economy

Two words that are on everyone´s lips in Washington are coordination and cooperation, with most recognizing that no country will be spared, and none can take on the crisis alone.

Analysis More

Economists: Australian central bank likely to lift rates

The Reserve Bank of Australia is likely to make history next Tuesday by lifting interest rates for a third straight month, economists predicted on Friday.

Leading U.S. economist says recession will come to an end this year

The U.S. economy will experience a U-shaped recovery and the recession will come to an end this year, a leading U.S. economist said recently in an exclusive interview with Xinhua.

Chief economist: Downward momentum slows in China

Yao Jingyuan, chief economist of the National Bureau of Statistics, said on Tuesday that China´s economy is on the road to recovery. He added that it will continue to perform well through the rest of the year, so long as the government sticks to the proven policies that have helped the recovery.

Noeleen Heyzer, UN Executive Secretary

UN Executive Secretary says a new mechanism is needed within the framework of the United Nations, so that the current financial turmoil may be dealt with more effectively.

Jose Manuel Barroso, EU Commission president

Ahead of the Asia-Europe Meeting, EU Commission president Jose Manuel Barroso is calling for more urgent global coordination to deal with the financial crisis.

Hu Xiaolian, deputy governor of PBOC

"Despite the negative international environment and severe domestic natural disasters, the country´s fundamental economic conditions remain unchanged."

Lin Yifu, World Bank´s top economist

"China´s economy is likely to expand between 8 and 9 percent in 2009." "Continued fast growth in the world´s fourth-largest economy was China´s biggest contribution to fighting the global financial crisis."

Pascal Lamy, Director-General of the WTO

"The primary role of the WTO at this moment is to serve as an insurance policy against protectionism; especially for developing countries, whose expansion relies very much on trade,"

Li Chao, PBOC spokesman

"The People´s Bank of China will strengthen cooperation with international financial institutions and central banks of other countries to jointly deal with the global financial crisis."

Predict

Global economic outlook still gloomy, says UN report

The global economic outlook is still gloomy and no early recovery from the current recession can be expected, a United Nations report said on Monday.

Ban Ki-moon: Crisis could last for years

UN Secretary-General Ban Ki-moon has warned that the impact of the global financial crisis could last for years with millions more families pushed into poverty.

OECD: Global recession near to bottom out

Prospects for global economic recovery next year have improved for the first time in two years.

IMF head: Global economy only to recover in 2010

The global economy will not recover until early 2010, the head of the International Monetary Fund (IMF), Dominique Strauss-Kahn, said Monday.

World Bank forecasts China recovery this year

A recovery in China, fueled largely by the country´s huge economic stimulus package, is likely to begin this year and take full hold in 2010, the World Bank (WB) said Tuesday in its mid-year report.

U.S. economy to start expanding by end of 2010: economist

Despite the worst recession in decades, the U.S. economy will see a self-sustaining expansion beginning in the fourth quarter of 2010, Moody´s economist said at a panel discussion organized by Dow Jones Indexes/STOXX Limited here Tuesday.

Have Your Say

Centerlized in the U.S., the global financial crisis has been radiating beyond territorial boundaries. As the one involved in the financial turmoil, in what way have you, as well as your friends and families, been impacted by the gloom?

Impact on everyday life More

Fewer expats rent high-end apartments in SH

Many foreign companies are cutting housing packages amid the financial crisis, which have led to fewer expats renting high-end apartments in Shanghai.

Rich get thriftier as fortunes shrink

Faced with a sharp decline in their net worth, extravagant Chinese millionaires are tightening their belts, too. Even the Cartier remains a Cartier.

Background

U.S. historic financial bailout plan

The 700 billion dollars bailout plan passed on 3rd, Oct, 2008 becomes largest financial intervention since the Great Depression.

Lehman Brothers files for bankruptcy

Lehman Brothers Holdings Inc.
What is investment bank?
What is subprime mortgage crisis?
Major financial crises in history

Timeline of U.S. financial crisis

The credit crunch that started last August in the US real estate sector has spread around the world. It is the following recent key events that have brought the world ever closer to the biggest financial crisis since the Great Depression of the 1930s.

EU approves aid measures for Austrian bank

Denmark is out of recession: report

Official statistics show Britain still in longest recession ever

More small-business bankruptcies reported in California

Greek economic recovery slow