Word: asianized
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After initially being slow to react to the spreading fallout from the U.S. financial system meltdown, Asian policymakers in recent days have been forced to adopt a more aggressive approach to shielding their economies from further damage...
...Korean banks through June up to a total of $100 billion and to inject a further $30 billion into financial markets. The steps are aimed at alleviating growing difficulties Korean banks have faced getting U.S. dollar financing from skittish international banks. Korea's move followed the lead of other Asian governments. Last week, Hong Kong, Singapore and Malaysia guaranteed all bank deposits, part of a larger effort to rebuild confidence in financial markets. A half dozen Asian central banks, including China's, have cut interest rates in recent weeks. Central banks have also taken action to boost liquidity...
...foreign debt maturing by mid-2009, investors worried the country could face a credit crunch that would restrict lending throughout the economy. Those fears have punished Korean stocks and the country's currency. The won plummeted nearly 10% on Oct. 16, its biggest one-day drop since the 1997 Asian financial crisis. Standard & Poor's last week also put seven South Korean banks on negative credit watch...
...director of sovereign ratings at Standard & Poor's in Singapore, says that it was almost inevitable that Asian governments would have to intervene more directly to stabilize financial markets. That's because massive rescue packages engineered in the U.S. and Europe to support their financial institutions threatened to put Asian lenders at a disadvantage in global markets. "It becomes peer pressure," Tan says. "The more people do it, the more you have to do it. Otherwise, you feel confidence may be lost...
...director of the Institute for Community Health and a professor at Harvard Medical School, presented findings from the most recent mental health surveys conducted at the city’s middle and high schools. The results, which were broken down by race and language spoken at home, showed that Asian high school students reported feeling sad or hopeless for two or more weeks more frequently than other racial groups. They were also most likely to have considered suicide, while multiracial students were most likely to have actually attempted it. The results also showed that Asians had the highest rate...