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US decline leaves China tipped as next economic superpower while pressure on US bonds is set to affect eurozone crisis
When India joined China in criticising the United States' chaotic handling of its hefty debts this weekend, describing the challenges facing the White House as "grave", it was the clearest indication yet that the old order had been swept away.
Until recently the US was the unassailable economic superpower, and the prospect of the White House being bossed about by the bond markets – let alone by Beijing or New Delhi – was unthinkable.
LONDON (MarketWatch) -- European stock index futures dropped sharply Monday, pointing to losses for all of Europe's major markets following Standard & Poor's decision to downgrade the U.S. on Friday. Futures on the FTSE 100 index dropped 121 points, or 2.3%, to 5,109 and futures on the German DAX 30 index were down 131.50 points, or 2.1% at 6,126. The losses for European futures came as Asian markets also posted big falls, including a 2.2% drop for Japan's Nikkei Stock Average
MADRID (MarketWatch) -- U.S. stock market futures were pointing to a sharply lower open for Wall Street on Monday, as the market gets the first chance to react to last Friday's U.S. debt downgrade by ratings agency Standard & Poor's.
I'm not an expert on the stock market in any sense, but what type of drop is usually deemed a serious concern?
Asian stocks tumbled early on Monday, starting what is likely to be a chain of torrid trading in Europe and the US later. Investors are taking fright at America's government debt downgrade and Europe's debt wound that refuses to heal.
Friday’s forecasts came true this morning when markets in Australia, China, Japan and South Korea started tumbling.
Originally posted by Tiger5
reply to post by buni11687
The European bank has just announced that they have been buying up Italian and Spanish bonds which has eased the situation. Is that capitalism or is it Socialism? I would argue it is the global way as it certainly isn't socialism.
Originally posted by OldCorp
What does China produce? I mean really.
From what I've seen, the best they can do is stock Wal-mart shelves. Why are they considered such a threat? Half of their population is starving, and the other half is sucking off of the US's hind tit.
I say we tell them to take a flying leap and see where that gets them.edit on 8/8/2011 by OldCorp because: (no reason given)