Word: bankses
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On Tuesday, Deputy Prime Minister Naoto Kan, who is also the national strategy chief, and Finance Minister Hirohisa Fujii, stressed the importance of quantitative easing to the Bank of Japan. In turn, the Bank agreed to cooperate by lending 10 trillion yen, in the form of short-term loans, to...
Dubai's financial crisis may have calmed a bit now that the central bank of the United Arab Emirates has promised to stand behind the city-state's banks with fresh liquidity. After all, the U.A.E., to which Dubai belongs, has perhaps $700 billion accumulated from petroleum riches - a resource...
But the question remains, if the central bank in Abu Dhabi decides it no longer wants to help out its construction-crazed, oil-bereft dependent, what assets would Dubai be able to offer up to the foreign banks who are owed billions? (Read about the Dubai debacle and the world...
Read "Green Banks: Paying Countries to Keep their Trees."
Both Chinese and Americans view their economic interdependence warily. Yet in many respects the relationship has been mutually beneficial and may have been the primary reason the financial crisis did not result in a worldwide Great Depression. China was able to spend aggressively because for 20 years U.S. businesses had...