- Canadians Angered Over "Buy American" Rule
Canada is ruffled by the “Buy America” campaign that has begun in the U.S. Canadian mayors and other officials are saying that the campaign would hurt the U.S. as well as Canada, reported Reuters.
- Schwarzenegger Suggests State Consider Flat Ta
Governor Schwarzenegger wants the commission that is examining Californias tax system to consider some “radical” changes, reported LA Times. “I hope and I pray that they don’t think they have to make a political decision,” the governor said.
- China Influence To Grow Faster Than Most Expect: Soros
George Soros believes that China will quickly gain much stronger global influence, reported Reuters. "China is going to be a positive force in the world and the market, and as a consequence, its power and influence are likely to grow. Personally, I believe it's going to grow faster than most people currently expect," Soros told a group in Shanghai.
- Russian Warns Against Relying On Dollar
Russia’s President Medvedev says nations should be wary of continued reliance on the dollar. The New York Times reported, “Given the weaknesses in the American economy, Mr. Medvedev said, relying on the dollar as extensively as is the case today could mean building a postcrisis financial system on legs of clay.”
- Airlines May Lose $9 Billion This Year, IATA Says
The global airline industry has a rough road ahead. Bloomberg reported, “Airline losses worldwide may total $9 billion in 2009, nearly double a previous forecast, as an outbreak of swine flu compounds the effects of the recession, the industry’s main trade group said.”
