Global Economy

[Guest]

SOme compilation of news from China
<b>China Rail Builders Book $331 Million of Forex Losses</b><!--QuoteBegin-->QUOTE<!--QuoteEBegin-->Oct. 23 (Bloomberg) -- China Railway Group Ltd. and China Railway Construction Corp., two of the nation's biggest building companies, reported a combined 2.26 billion yuan ($331 million) of losses, joining Citic Pacific Ltd. in making wrong way bets on foreign currencies.

China Railway Group, Asia's biggest construction company, booked a 1.94 billion yuan loss, and China Railway Construction incurred a 320 million yuan loss, the Beijing-based companies said in separate statements to the Hong Kong stock exchange today.
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<b>China Will Cut Interest Rates Again This Quarter, Survey Shows </b><!--QuoteBegin-->QUOTE<!--QuoteEBegin-->The key one-year lending rate will fall 27 basis points to 6.66 percent, according to seven of the economists. Two predict a drop of twice that size.

The estimates come after the world's fourth-biggest economy grew at the weakest pace in five years as the U.S. slowdown cooled demand for exports. China has cut borrowing costs twice in the past six weeks, increased tax rebates for exporters and reduced fees for home buyers to stimulate expansion.

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<b>Financial turmoil and the global economic slowdown ``have started to have a negative impact on China's economy,</b>
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<b>China's Stocks Fall a Third Day; Yunnan Copper, Chalco Drop</b>