Zhou Xiaochuan News
EXCERPT: Henry M. Paulson Jr.'s: 'On the Brink'
Read an Excerpt From 'On the Brink: Inside the Race to Stop the Collapse of the Global Financial System,' by Henry M. Paulson Jr.
S&P downgrades U.S. credit rating from AAA
The U.S. lost its esteemed AAA credit rating after being downgraded by Standard & Poor's Friday, eroding the elite standing it has held in global markets for more than 70 years. The nation's credit rating was cut to AA+ after S&P said the compromise made by Congress and President Obama this week to
China warns U.S. on managing its debt
China's central bank governor called Wednesday for the U.S. to "take responsible policy measures to handle its debt," a day after the world's largest economy reached a bipartisan deal to reduce its deficit and lift its borrowing limit to avoid a default. The comments from People's Bank of China
German Finance Minister Says Results of U.S. Stimulus Are 'Horrendous'
German Minister Say New U.S. Stimulus Will 'Create Additional Problems for the World'
U.S. Grows More Dependent on China
The scientists at the National University of Defense Technology in Changsha, China, had plenty to celebrate: They had developed a supercomputer that could perform more than a quadrillion calculations per second. The announcement, released just in time for US President Barack Obama's visit to China
Not every nation can export its way to economic recovery
Earlier this year, the world seemed doomed to reprise the Great Depression. With economic engines in Europe and Asia finally beginning to fire, however, economists are increasingly confident that a global recovery has begun. Now, the question is: Will it last? France, Germany and Japan all expanded
China: 'White Knight' or 'Angry Outsider'?
Many Wonder Whether China Will Use Its Vast Foreign Reserves to Rescue the World Economy
Geithner Refutes EU President's Claim That U.S. Stimulus Plans Are a 'Way to Hell'
Treasury Secretary Tim Geithner dismissed scathing criticism today by European Union President Mirek Topolanek that the U.S.'s stimulus packages are a "way to hell" that will undermine the global financial market. "No risk in that," Geithner said in an interview on CNBC. "The best thing we can do
China calls for new global currency
China is calling for a global currency to replace the dominant dollar, showing a growing assertiveness on revamping the world economy ahead of next week's London summit on the financial crisis. The surprise proposal by Beijing's central bank governor reflects unease about its vast holdings of U.S.