Wednesday, 11 Nov 2009 | Source: The Associated Press
Stubbornly high joblessness threatens to trigger loan defaults and drag on consumption next year, hobbling a U.S. economy struggling to rebound from recession, World Bank President Robert Zoellick said Wednesday.
The United States sees China as a vital partner and competitor, but the two countries need to address economic imbalances or risk "enormous strains" on their relationship, President Barack Obama said.
China has had recurring periods of greatness and recurring periods of disaster and now is the time to be in China, Jim Rogers, chairman of Rogers Holdings, told CNBC as China celebrates 60 years of communist rule.
Say the name Jim Rogers, and these thoughts might come to mind — billionaire, China, author, adventure capitalist, George Soros' one-time partner, investment guru, man in bow tie ... but how about father?
Global stocks rose Wednesday as investors grew more optimistic about the global economy recovering. But experts interviewed on CNBC remain torn about whether this is a bear-market rally or a new bull market.
The banking sector was one of the few sectors in the red Tuesday as investors remained cautious on the health of the system. Experts tell CNBC how to invest during the uncertainty.
After last week's gains, most global stocks were down Monday as weak corporate results tempered investors' optimism. Experts tell CNBC it's still a bear-market rally.
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