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Tuesday, December 11, 2012

Financial Crisis in Usa and Pakistan

For Wall Street, the week ending Friday, October 10 was the week that volition enter its crowded history and would be remembered for a big time. The week saw a sum up of records broken. It saw the largest hebdomadary decline in the Dow Jones index of 30 industrial stocks which dismiss by 18 per cent, draining $8.4 trillion from investment and retirement accounts. This is more than one half of Americas up-to-date gross domestic product. It saw the index move up and down by 1000 points in one day, looking for for some direction before settling down for other loss of 128 points on the last trading day of the week. This was the 10th consecutive decline in the index. Briefly the index breached the 8000 take last seen in 2003. The week had President Bush addressing the state five times, once every day, appealing for calm. He has appeared 22 times before the public in 27 days. His appeals were generally ignored. The week saw the finance ministers of the worlds cardinal rich economies the G7 meeting the American president to indicate that the industrial countries were working together to come up with a program all of them could support.
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Finally, over the weekend it had President Bush go down Pennsylvania Avenue to the headquarters of the International fiscal Fund, (IMF), to meet the finance ministers of the separate known as G20. The group includes non only the G7 but also a number of large developing countries such as Brazil, China, India, Indonesia, South Africa as well as some of the large oil-producing countries such as Saudi Arabia and Nigeria. Pakistan is conspicuously absent from the group reflecting the low spot it now occupies on the international totem pole. It was clear that the panic in the financial markets had disturbed the political world as well. ab initio the view was a view that I shared that the financial crisis that began in the United States and then spread to Europe would not seriously affect the economies of the developing world.... If you want to get a full essay, order it on our website: Ordercustompaper.com

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