The latest two issues of The Economist which I just received carry themes which are nerve-racking. I have no time yet to go through but my imaginations have started to run wild. Seriously, the world financial market is now in such a critical condition that no body can be spared. In one way or another, we are all entangled in it.
Are we now on the edge? It may sound mind-boggling, but this is what is right in front of us. U.S. now badly needs liquidity and Paulson is asking for more of it. Cash-rich China has offered to lend a helping hand, but the Meddle Kingdom is equally vulnerable to a crisis.
I hope the meeting of IMF and World Bank on this weekend may shed some light on the turmoil.
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