No help for frightened markets from the US Federal Reserve this morning, despite a flood of news overnight and yesterday strongly suggesting the pace of global economic activity continues to slow, especially in Asia.
Last year, the share markets in most Asian countries put in stellar performances. The Thai share market, for instance, rose by 50.8%, while the Malaysian share market climbed 32.5% and there's little sign that inflationary pressures in the Asian economies will abate any time soon, writes Karen Maley.
Golbal markets are dancing to China's tune. Plus, the US is still lurching towards a slowdown, a failure for Macquarie,Germany has changed the dealine for its iron ore project with BHP and other business news.
While US retail figures are on the up and there's talk of "the consumer is back", the Fed isn't quite so sure ... The value of the yuan is the big issue in China ... Growth news is gloomy in Europe ... Greece is still a basket case ... Car sales here are on the rise.
Despite initially being the hardest hit by the GFC, Asian economies have proven more resilient than US and Europe. Manufacturers are hopping on board, exporting to developing countries like China and India and reaping the rewards.