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Today, international bodies assert that if a country's trade deficit exceeds 4.5% of its GDP, it's a sign of real and present economic danger. And yet the US economy continues to defy both history and economics.
THIS week the International Monetary Fund and the World Bank meet in Singapore to discuss possible reforms to their voting structure. It is an attempt of these institutions to remain relevant, as developing countries have lost confidence in their policies and are turning to other sources of financing.
MOSCOW (Reuters) - President Vladimir Putin is expected to put a positive spin on Russia's record last year at a news conference on Tuesday, but could also face questions about his long-term strategy and commitment to democracy.
BEIJING: China's foreign currency reserves have risen to US$818.9 billion (euro680 billion), up 34 percent from the same period one year ago, state media reported Monday.
Developing economies in Asia are expected to grow by an average of 6.6 percent this year, above an earlier forecast of 6.5 percent, spurred by faster-than-expected expansion in China and a strong showing by India and the rest of South Asia, the Asian Development Bank said Thursday.
JAKARTA: Amid all the controversy over the Japanese Government's decision on Tuesday to approve the revised I>New History Textbook/I>, intended for use in the country's junior high schools, it is certainly worthwhile to read again the speech of German Chancellor Gerard Schroeder during a ceremony to mark the 60th anniversary of the liberation of Auschwitz in January.