Asia stock markets slump and oil rises on fears Iran war may drag on
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The conflict in the Middle East has rattled financial markets and global
energy prices have soared.
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Wednesday, September 28, 2011
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Policymakers in China, the world’s third largest economy behind the U.S. and EU, face their own set of tough choices. Rapid growth rate has fueled inflation that is running at a double-digit rate, according to analysts -- much higher than official targets. To contain inflation, Beijing has raised interest rates five times and lifted banks' reserve requirements nine times since October. If it clamps down too hard, though, a deeper economic slowdown could reverse China's efforts to lift hundreds of millions of people out of poverty.
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