Word: meltdown
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...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...
...Beyond the immediate economic impact, there are already signs that this meltdown will have longer-term repercussions. One is that policymakers everywhere will have to go back to the drawing board to figure out a more effective system of financial-crisis management. "Governments are making the same mistake over and over again. They're trying to deal with the crisis on a piecemeal basis," says Dennis J. Snower, president of Germany's Kiel Institute for the World Economy. He advocates a far more ambitious solution, including the creation of a new international agency that can act as a lender...
...that a carbon cap would further increase energy prices. "America's growing dependence on fossil fuels, once viewed as a Democratic trump card...has become a lodestone instead," wrote the green pollsters Michael Shellenberger and Ted Nordhaus in a recent piece for the Los Angeles Times. The ensuring financial meltdown hasn't helped. Since the climate bill was defeated on June 6, the Dow industrial average has lost some 2,000 points. "I think the financial crisis will strengthen the hand of opponents of carbon trading on both the left and right," says Nordhaus...
...Beijing's corridors of power, economic-policy makers are said to be watching in horror as a U.S.-led financial meltdown gathers force around the globe. According to the rapidly congealing conventional wisdom, China, ostensibly the world's economic superpower-in-waiting, is taking copious notes on how not to run a financial system...
...that picture is only partly correct. That China is watching the meltdown with alarm is certainly true. The global economic slowdown on the tail of the financial-market blowout is already clear and present on the mainland. In what has been one of the world's prime economic engines for the past five years, growth is slowing fast. Look only at the price of steel - as useful an industrial proxy for China's economic boom as any. According to Mysteel, a Shanghai-based consulting firm, the price for products used primarily in construction have fallen to less than...