In other news Wednesday, Federal Reserve Chairman Ben Bernanke voiced concern about slow economic growth, saying the Fed would take action if needed to help the U.S. economic recovery along.
The Chinese government reported that the country's economy grew by 7.9 percent in the second quarter of this year, fueled by massive stimulus spending and more than $1 trillion in lending by state-run banks.
On last night’s NewsHour, Paul examined the debate raging over which shape the economic recovery might take. Some economists are predicting a V-shaped recovery — a steep period of decline followed by an equally steep period of growth. Others are…
Question: How is China weathering the economic crisis? And does China want to remain the United States’ largest creditor? Paul Solman: With Treasury Secretary Tim Geithner in Beijing for the past few days, the financial world has been watching and…
Question: China’s Premier Wen Jiabao said today he was “worried” about China’s $1 trillion investment in U.S. securities. So, should the United States be worried about his worry? Paul Solman: In response to any economic problem these days, I’m…
Question/Comment: At what point does increasing Productivity damage a consumption-based economy? Can this be discussed with respect to the recent historically high levels of productivity in “modern industrialized” economies with relatively inelastic labor pools? Paul Solman: Most economists will tell…
Question/Comment: Given we live in a finite world, how can economists explain the viability of an economic system which demands infinite growth? Paul Solman: They’d be hard-pressed, I guess. But not necessarily stumped. I can think of three responses. 1)…
Paul Solman reports from San Francisco on a conference for economists and why hints of a recession were missed. // ]> // ]]>…
Question/Comment: I have heard guests on the NewsHour say that the recession will last into 2009 or 2010. What is it that is supposed to happen in this short time period that will result in happy days being here again?…
Stock markets fell Wednesday on news of weak corporate earnings and continued fears of a global recession. Economic analysts and reporters discuss the market's fall and the worldwide impact of the financial crisis.
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