Word: demands
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...Paulson and Bernanke know. And what is most worrisome about the current crisis, and the latest moves it has necessitated, is that it shows how badly the shadow banking system has managed to undermine the traditional banking system by incentivizing those bad loans. Fueled by the shadow system's demand for loan-based derivatives, enough regular banks issued lousy loans that now they too are failing, hence the fate of Washington Mutual and Wachovia. In the worst case of an unchecked, full-blown panic, even banks that operated cautiously within the post-1929 safeguards could be vulnerable. At that point...
...global financial meltdown can be traced to an American export - the subprime mess - the U.S. will import the consequences. As the go-go economies of China and India hit the brakes, so too will demand for American goods and services. That will have a knock-on effect on jobs and the earnings of companies that rely heavily on international sales. (One small silver lining: as their economies have slowed down, China and India have decreased their consumption of oil, contributing to a fall in prices, both globally and at the pump...
...Lejiang says it's already happening. He's chairman of Baosteel, one of China's giant steelmakers, and since August, he has had to cut prices twice as demand suddenly cooled off in what had been a booming industry. The era of rapid growth for Chinese steel "will soon be remembered as history," he says. The Chinese stock market has also been hit hard - it's down about 60% this year - but the nation's banking system has for the moment largely been sheltered from the international storm because it's only partly open to the global capital flows that...
...best economic growth during the last 5 years, averaging 5.1 percent per year.” He explained that since 2004, the Colombian government has poured significant sums of money into improving Columbia’s attractiveness to foreign investors. As a consequence, the demand for domestic labor and the foreign direct investment have both greatly increased in the past four years. While the minister praised his own country’s economic performance, he criticized America for allowing its own economy to fall into a state of crisis. “We are facing one of the worst financial...
...Many argue that the nuclear deal is necessary in order to provide India with a carbon-free way to feed its enormous and growing demand for energy. But this does not excuse the fact that in adopting the treaty, the United States has effectively given away the bank. Indeed, numerous non-proliferation experts have criticized the deal both because it lacks safeguards, and because its very adoption undermines the international anti-proliferation framework by giving India an unprecedented exemption...