Russian President talked about the financial crisis: the goverment could not “repudiate a debt” on the common people
China news agency, in Moscow, on Dec 24th – Russian President Vladimir Medvedev said on 24th, the Russian gold occupied the world’s third largest foreign exchange reserves which for Russian economic, monetary and financial system to withstand the world economic crisis, provided a “safety airbag .” But the goverment could not “repudiate a debt” on the common people as a result of the crisis. Medvedev for the first time accepted the three mainstream television stations in the form of an interview with reporters.
Russian president said Russia should be prepared enough to deal with financial crisis
Medvedev said that Russia in recent years had taken several steps to consolidate the economy and social development. At present, Russia’s gold and foreign exchange reserves are in third rank in the world, which contributes to the maintenance of security and stability of the Russian economy, finance and foreign exchange system. He said that Russia currently had the ability to repay their debts, banks has no problems about pay.
The deterioration of Russian economic will bring about political changes
In the global financial crisis, at the beginning of next year, there will be more signs of deterioration of the economic crisis in Russia, and with the attendant it may be some political changes. In recent years, accompanied by high oil prices, Russia has been enjoying rapid economic growth as prosperity. In the past six months, the Moscow Stock Exchange’s stock price has shrunk by at least 65% and the ruble in two months had 25% devaluation. The Russian central bank since August, in order to suppress the devaluation of the ruble, has burned 1 / 4 foreign exchange reserves – about 160 billion U.S. dollars.
Double challenge for The Chinese government in the financial crisis
With the U.S. economy coming down into recession, and the surging of domestic unemployment, there will be an obvious domestic protectionism tendency rising. And the drop in export demand, rising protectionism will be the double challenge for China.
Last week, that is, on the decision day of saving U.S. auto industry plan to come out, the U.S. government has also launched a new movement on trade policy toward China: They brought China before the WTO for suspicion that China’s “well-known trademark” strategy is related to illegal export subsidies. Because of the current financial crisis, the U.S. economy is sliding into recession and the domestic unemployment is also surging. In order to protect them, the United States has instinctively sharpened their knife to China who are enjoying a large surplus to America. It can be said that China’s exports are now facing a double threat, one is the decline in the demand for exports, and the other is the rise of protectionism in the other.
AMD, Yahoo, Palm dying of the four major IT companies on the list
Bubble Information Network channel on December 22nd, we have often recently heard that 2009 will be the most serious economic crisis darkest hour, so with the approach of the 2009 pace, more news of layoffs are also from Wall Street and Silicon Valley. And more recently in the industry someone has pointed out that in this precarious moment, AMD, Palm, Sun and Yahoo is about to die out as the four major IT companies.
Sharp drop in exports to Japan in November
Xinhua Tokyo, Dec. 22 Xinhua Japanese Ministry of Finance on 22nd the quick report of trade statistics published showed that the country’s exports in November to 5.3266 trillion yen (about 89 yen 1 U.S. dollars) which compared to the same period last year dropped 26.7 percent. This decline than that of 22.3% analysts expected indicates because of the extent of the deepening economic recession, Japan industry enterprises will be shut down more factories, more staff reductions.
This year the global financial crisis led to the sharp drop in the total amount of equity financing
Xinhua in Paris on December 21st (Reporter Lu Longjun) this year, the global financial crisis led to the collapse of the stock market, and corporate finance market has also been severely affected. Ernst & Young’s latest data showed that the first 11 months of this year, the world’s total stock market financing reduced compared to the same period last year, more than half.
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