The global financial crisis has plunged China's auto industry to a seven-year nadir. The Chinese government has recently announced its $586 billion economic stimulus package for the country's sweeping investment in the coming two years to boost market demands and economic growth. Certainly, this big policy is expected to help reverse the sliding auto market in China.

Oleg Maslov
On 17 September the head of State Agency for Financial Control of the Republic of Kazakhstan E.Bahmutova informed that Kazakh banks have to pay out $12 billion of foreign credits by 1 September 2009. As of 1 September 2008 the banking sector of the republic was represented by 36 commercial banks.

Financial and stock markets around the world tumbled again on Monday as investors shed assets to raise cash to weather the impending global recession. Emerging-market stocks received yet another beat-down following a difficult week last week. News of a $16.5 billion IMF loan to the Ukraine and a planned "substantial financial package" for Hungary failed to assuage emerging market equity investors.

The global financial crisis could seriously delay the discovery and production of many new life-saving medicines, warns a major international conference today (Monday).

U.S. President George Bush is urging nations of the world to be patient with a global economic recovery and to maintain policies that keep the global financial markets open.

The economic crisis that has sent stock markets worldwide into freefall now looks almost certain to spark a major overhaul of the global financial system. To speak of freefall is no exaggeration. Both the U.S. and Japanese stock markets on October 15 suffered their biggest one-day losses since the crisis began.

The bright side to the long darkness of the impending recession/depression is that whether cyclical, secular, or black swan event, these troughs form the valleys from which new periods of prosperity emerge.

World stocks The stock markets around the world in Asia and Europe rallied in early trading Monday on news of more European help for troubled banks. Hong Kong's Heng Seng was up ten percent, while top European exchanges rose more than five percent in early trading.

When European Union leaders convene in Brussels for a summit meeting on October 15-16, they will have little option but to conclude to bury the hatchet with Russia over Georgia.

In the first three days of the country's economic meltdown that began Sept. 29, 81 percent of Americans surveyed in a national poll agreed or strongly agreed that the financial crisis "poses a greater threat to the quality of my life than does the threat of terrorism."

After plummeting below 8,000 shortly after the market opened, the Dow Jones Industrial Average (DJIA) recovered somewhat, and managed to finish down about 100 at 8,450.

US Considers Backing Bank Debt, Removing Deposit Insurance Limits As Global Markets Continue to Plunge.