Great Depression

Learning from history

Federal Reserve chairman Ben Bernanke announces the central bank's fiscal commitment to improving the labour market. Photo: AFP

United States Federal Reserve chairman Ben Bernanke has moved the central bank further into uncharted policy territory in combating joblessness by tying the bank's interest rate outlook to unemployment and inflation, while committing its balance sheet to an even faster ex

Friday, 14 December, 2012, 3:00am

Police injure pregnant woman, strikers claim

Clashes broke out as police moved in to help a Hitachi-affiliated factory in Shenzhen move products out of its warehouse, which was surrounded by protesting workers as their sit-in moved into its seventh day.

11 Dec 2011 - 12:00am

The other depression

In times of uncertainty, turning to the pages of history can be useful to find ways to weather a storm. Amid the present financial turmoil, it is natural to search for clues as to what we can expect or should do by looking to the last known global economic calamity, the Great Depression of the 1930s.

21 Nov 2008 - 12:00am

Great Depression's lessons were not lost

With unabashed glee, many commentators over the past week have again predicted the end of capitalism, some even suggesting a worldwide depression. It's the capitalist system that's at fault, they yell; none can find a single example anywhere in the world as a model.

26 Sep 2008 - 12:00am

Investment blueprint just the first step

In the ongoing process of transforming the mainland's state-dominated economy into a free-market system, the central government faces several fundamental challenges.

27 Jul 2004 - 12:00am

Economic test for the nation's new team

The signs of overheating in China's economy have been increasingly evident since the Sars outbreak was tamed in the spring. By any measure, there is a lot of hot money circulating on the mainland, and much of it is fuelling a bubble in just a handful of sectors, including property, steel and cars.

25 Aug 2003 - 12:00am


NOW TELL ME if I have my head twisted on backwards but I just cannot figure it out. Why is it such a bad thing that we now pay less than we used to pay for everyday goods and services?

Yet most of the reactions to the news that our consumer price index went down another 3.36 per cent year on year last month seems to be that it is a bad thing indeed.

25 Jul 2002 - 12:00am

Silent winners

Bad economic news seems a near-daily event in Hong Kong just now. All indicators seem to point to a worsening rather than improving economy and hope seems in short supply. Steeper than expected retail price declines in April confirmed an unbroken deflationary trend that is sapping confidence among companies and property-owning households.

24 May 2002 - 12:00am

Good enough for a depression

THOSE WHO CANNOT remember the past are condemned to repeat it, the American philosopher George Santayana wrote. The investment gurus who boldly pronounced in the 1990s that the United States economy was in a permanently recession-free 'New Paradigm' could be accused of just that.

13 Dec 2001 - 12:00am