 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
| . |  |
. |
UNCTAD chief cautions against new financial bubble
Geneva (AFP) Sept 8, 2009 The head of the UN's trade and development think tank on Tuesday cautioned against a new financial bubble as massive liquidity was pumped into the economic system to counter the global crisis. "The bubble is something we have to think about," said the Director General of the UN Conference on Trade and Development, Supachai Panitchpakdi, adding that there was a "need to prevent another bubble. "Because if you look into the state of public finances in major economies, including in Asia, you can see that we are actually fighting one disease with the same terms that have created the disease," he told journalists. With more liquidity being pumped into the economy, "that's why you see all these bubbles beginning to spread though all the stockmarkets around the world," said Supachai The UNCTAD chief said full reform of the financial system had yet to be completed and cautioned against a return to "business as usual." "Excessive financial activities within an economy ... have been the cause of (the) crisis. We're going back without any change, without any supervision that has been tightened up," said Supachai, a former head of the World Trade Organisation. An UNCTAD report released on Monday warned that the current financial market rebound is not a "real recovery" and predicted that any world economic growth recorded in 2010 was unlikely to exceed 1.6 percent. Share This Article With Planet Earth
Related Links The Economy
China regulator says banks' risk management key to accessShanghai (AFP) Sept 8, 2009 China's banking regulator said Tuesday that the ability of banks to manage risk will be a factor in granting market access, raising a new potential obstacle for foreign lenders eyeing the Chinese market. "The international financial crisis exposed a number of problems in the reputation of risk management at commercial banks," the China Banking Regulatory Commission said when issuing the new ... read more |
|
|
| The content herein, unless otherwise known to be public domain, are Copyright 1995-2009 - SpaceDaily. AFP and UPI Wire Stories are copyright Agence France-Presse and United Press International. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by SpaceDaily on any Web page published or hosted by SpaceDaily. Privacy Statement |
del.icio.us
Digg
Reddit
YahooMyWeb
Google
Facebook