Word: globalization
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...giant strides in recent years - and they will be on display in the massive military parade in central Beijing on Oct. 1. In many categories China's military is the best in Asia and in some sectors is approaching NATO standards. The People's Liberation Army still has no global strike capacity, however, other than its intercontinental ballistic missiles and cyberwarfare capabilities...
...Still, many countries worry about China's rise and global expansion, even though it has, to date, been outwardly peaceful. Public opinion polls in Europe and the U.S. regularly reflect a negative image of China, while concerns over economic competition and job losses are growing in Europe, Africa and Latin America. Substantial strains remain in Beijing's ties with three of China's most important neighbors: Australia, India and Japan. Even relations with Russia, which have achieved historic highs since the collapse of the Soviet Union, have run into obstacles. This is unsurprising. As Beijing expands its influence and begins...
...bags, cushions and shock absorbers." Trichet has now detailed what he means. On Sept. 6, a group of central-bank governors and regulators from 27 countries that is chaired by Trichet published specific proposals that he said would "set new standards for banking supervision and regulation at a global level...
...pictures of the global financial crisis...
...additional capital if they engage in especially risky types of financial market transactions. As the financial services industry braces for tougher oversight, it's keeping its fingers crossed. "There's a lot of wariness about all forms of financial market activities and that's perfectly understandable," says Richard Metcalfe, global head of policy at the International Swaps and Derivatives Association. "There's a huge amount of political pressure to do things. Let's do it in a way that is intelligent." (See "Turning Point for the Global Recession...