The International Monetary Fund or IMF is an organization that supervises the global financial system, especially now in this very trying time, with the crisis that the world is facing right now the IMF is very busy with all meetings and conventions that they are doing to come up with a perfect plan.
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Even though the world is in a very deep global financial crisis and we are still in the process of healing some countries are still very busy in terms of industrialization. A series of talks and conventions are done regarding all the set-up and planning. Some major players are involved and everything is going strong.
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There are still some people who do not fully understand the situation that we are having right now. They thought that this is just a phase and we will get over it soon, but the situation now is different and it is something that we have to be aware of and know a lot about. Some discussions and conventions are done to make people understand the impact and effect of the global financial crisis that the world is facing right now.
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According to some of our great economists, the economy in Asia went to its slowest pace last year, 2009. The economists as well as businessmen felt this kind of pace all throughout last year.
Though everybody is hopeful but we are already in the middle of 2010 and things are not getting better as expected.
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One of the congressmen in the Philippines discussed about the current situation of finance worldwide. He specifically addressed the global crisis in the United States of America. The congressman discussed how US’ economic problem will have a domino effect and will eventually spread all throughout the world and therefore it would be necessary to be prepared and make a solid game plan.
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There are a lot of impoverished countries around the globe. Even with the advent of technology there are still some countries, especially in Asia, which need assistance from other countries.
But there are also a lot of countries in Asia, like China and Thailand, which are improving big time in terms of economic stability.
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External assets is just another term for international reserves, external assets consist of foreign currency deposits and also the bonds that are kept by central banks and other financial institutions. One website named the Global Finance came up with the list of the ten countries with the highest international reserves account, with China leading the pack. China made an amazing leap from just about 18 billion US dollars two decades ago then just ten years ago it grew to more or less 146 billion US dollars.
But recently China made it to 2.3 trillion US dollars making them number one.
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Nowadays people have a hard time trusting their money to banks, no matter how big and influential these banks are, since there is a very big possibility of banks going bankrupt these days because of the global financial crisis that the world is facing. There are rumors of banks and even countries having big problems with regard to money. Even the United States of America which is known worldwide as the most powerful and richest country is also feeling the crisis.
Top economists in the world are already studying these financial issues and hopefully banks all over the world can recover and regain its losses.
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We are all connected in one way or another, what happens to one country may have some effects big or small to its neighboring countries and the world, especially when problems or crises happen to one of the powerful countries in the world such us the United States of America. The global financial crisis that the whole world is facing right now is said to have begun in the US when they experienced a heavy blow in their economy in 2007.
The housing and financial crisis of the US in 2007 affected some countries also due to the existing globalization.
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The stocks went down again this week making the global financial market more unstable. Instead of a steady increase the stocks fluctuate and making the big players worried about how to retain the global economic recovery. The world is still in its recover stage and yet there are already a lot of problems arising.
In Germany officials are apprehensive about the situation and tentative condition of the banks and this is actually a scene experienced not only in Germany but in many countries all over the world. This kind of situation or uncertainty has been causing major distress in the market in the US and Europe.
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