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LAST month, in an interview with i>Bloomberg News/i>, the journalist asked me for a phrase that I thought reflected the current mood. I mulled over the market chaos and changes that have taken place - events which would have been unthinkable just a few months earlier - and a song from alternative band REM popped into my head: i>It's the end of the world as we know it/i>, writes Raymond Tang.
HAVANA (AP): Raul Castro announced Saturday that Cuba will cut spending on education and health care, potentially weakening the building blocks of its communist system in a bid to revive a foundering economy.
CARACAS, Venezuela (AP) - Venezuela agreed Friday to pay Spain's Banco Santander $1.05 billion to nationalize the bank's local unit, ending months of stalled talks and transforming President Hugo Chavez's government into the country's top financial player.
BEIJING (AP) - Risk-averse in the best of times, China's Communist Party leadership is expected to use its biggest meeting of the year for an even tighter show of political unity in the face of the global economic crisis and public calls for political change.