www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

   

Economist: US subprime crisis to linger for a long time

(chinadaily.com.cn)
Updated: 2008-03-18 16:04

The US subprime credit crunch that is plaguing the US financial market and economy is far from over, and its global aftermath is expected to linger for quite a long time, predicts Andy Xie, a well-known economist.

Xie made the forecast after US-based JP Morgan Chase said Sunday it would acquire rival Bear Stearns in a deal valued at US$236.2 million - or $2 a share - a stunning collapse for one of the world's largest and most venerable investment banks.

Commenting on the recent Standard & Poor report that said the subprime crisis may bottom out at the end of this June, the independent economist based in Shanghai and Hong Kong said he believes the end of the subprime woes are still not in sight, the 21st Century Business Herald reported.

Xie, a former Morgan Stanley chief economist in Asia, said JP Morgan's bailout means Bear Stearns, one of the five major US investment banks, has actually gone bankrupt. Risky bets on securities tied to subprime mortgages - loans given to customers with poor credit history - crippled Bear Stearns.

He expects more large financial institutions may face the same fate as Bear Stearns in the future as a result of the current subprime debacle, which many economists consider the biggest crisis in the US financial market since World War II.

Other analysts also said the bid to rescue Bear Stearns was more than just saving one of the world's largest investments banks - it is propping up the US economy and the global financial system. An outright collapse could cause huge losses for banks, hedge funds and other investors connected to Bear Stearns.

Xie noted that after an initial estimation, the losses in the financial market resulting from the subprime crisis stand at $160 billion. He added the subprime woes have gone beyond subprime loans to involve many other areas such as leverage financing, construction and credit card loans.

The economist pointed out that many financial institutions are already embroiled in bad debt crises that have yet to be exposed.

He said chances are slim for the world to recover from the impact of the US housing woe and subprime crunch in the near term, adding that recovery is near impossible until the US housing market climbs out the steep hole.

A large number of houses are still in stocks in the US and if they enter the market, house prices would drastically drop further, Xie said.



Top World News  
Today's Top News  
Most Commented/Read Stories in 48 Hours
主站蜘蛛池模板: 欧美一级欧美一级在线播放 | 欧美在线a级高清 | 成人毛片免费视频 | 热99re久久国超精品首页 | 国产看片视频 | 久久精品国产精品亚洲20 | 国产精品男人的天堂 | 国产一国产一级毛片视频在线 | 国产成人精选免费视频 | 日韩欧美毛片免费看播放 | 国产亚洲一区二区手机在线观看 | 久久久久综合一本久道 | 亚洲在线小视频 | 亚洲美女视频网址 | 成人手机视频在线观看 | 欧美日韩国产在线人成dvd | 国产成人美女福利在线观看 | 亚洲视频免 | 色樱桃影院亚洲精品影院 | 久久天天躁综合夜夜黑人鲁色 | 暖暖免费高清日本一区二区三区 | 国产伦久视频免费观看 视频 | 国产精品黄页网站在线播放免费 | 一级特黄国产高清毛片97看片 | 美女毛片大全 | 天堂8资源8在线 | 美女的被男人桶爽网站 | 亚洲免费三级 | 亚洲性免费 | 国内偷自第一二三区 | 亚洲人成网址在线观看 | 91久久福利国产成人精品 | japanese日本tube色系 | 国产黄三级三·级三级 | 亚洲一区二区三区不卡视频 | 黄色网址在线免费观看 | 91成人免费版 | 亚洲高清视频网站 | 国产福利最新手机在线观看 | 欧美另类久久久精品 | 国产精品1页|