英语阅读Dubai迪拜债务.ppt

Dubai Debt, Dollar Slide Fuel Market Slump in Asia 迪拜债务和美元疲软使亚洲股市下跌  Dec . 4th, 2009 Here in South Korea, the KOSPI index tumbled more than four and a half percent Friday.? Most other Asian stock markets were down sharply, a reaction to word that Dubais main investment arm is having trouble servicing its debt. State-owned investment company Dubai World, which manages much of the city-states massive development projects, is asking creditors for a delay in repaying about $60 billion in debt. Fears of a wider-ranging debt default affecting other banks drove Japans Nikkei index down two percent.? Hong Kongs Hang Sang fell almost five percent. Lee Kyoung-su, a market analyst at Taurus Investment and Securities in Seoul, says markets are worried about the possibility of a second financial crisis, like the one that began in the United States last year. Lee says the Dubai debt crisis is not that large by itself, but may be enough to spark a chain reaction, especially in Europe, where many banks lent money to Dubai. He says if European banks react to this by getting stricter on making loans, it could have very negative consequences. The shakiness in world stock markets did not help the dollar, which is at levels against the yen last seen 14 years ago.  Finance Minister Hirohisa Fujii described himself as extremely nervous Friday, after the dollar slid toward 84 yen.? He says Tokyo may soon intervene in the markets, to help correct the yens course. In the past, to halt the dollars fall, the Bank of Japan has sold yen and bought dollars. Japan, like many Asian countries, depends heavily on exports for economic growth.? When the dollar gets cheaper, it raises the price of South Korean and Japanese exports like televisions and cars, making them less competitive. Separately, there were signs Friday Japan is losing its battle against domestic deflation.? Consumer prices there fell for the eighth month, indicati