Remarkable transformation in Indian, Chinese economies, says US Fed chief Ben Bernanke

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PTI: Washington, Jan 15 2013, 10:58 IST

be willing to work with each other on fiscal matters," Bernanke said.

"They (in Europe) are working to develop a banking union where bank regulation would be done throughout the euro-zone by the ECB or some other agency, and that would strengthen the European banking system and make it less dependent on the individual countries.

So steps are being taken in Europe which I hope will help stabilise that situation over time," Bernanke said in response to a question.

Stating that global growth has been somewhat slower for a variety of reasons, he said much of Europe is in at this point following the very difficult financial problems.

"Some emerging market economies have slowed for a variety of reasons. The slowdown in China was at least partly a policy goal to try to create a more sustainable and stable growth path and to try to shift the sources of demand in China from foreign buyers – exports – to domestic demand," he said.

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America in desperate need to boost its derailed illusionary economy by hook(Crony Capitalists) and crook (Indian traitors)

Gaurav | 15-Jan-2013Reply | Forward

I would start by asking Ben that did he get the official Statistics from the Ministry of Statistics and Programme Implementation of India about his quote of people coming out of poverty in India??? Indian govt. cannot keep its own records Ben, how will it keep the record of each Indian. American Economy is driven maximally by the WAR/WEAPONS INDUSTRY. Apart from scientific Innovations in various branches, we don't need America for our existence. For the past 6 decades the notorious team comprising of crony capitalists, Indian Traitors, and the Foolish public coupled with the injection of the conspiracy of SILENCE and exhibiting TOLERANCE beyond limits has resulted in confused MARKET in India where there is no precise regulation over NEED-DEMAND-SUPPLY. Any TOM DICK n HARRY such as this BEN BERNANKE pops up in the middle and vomits some non-sense. And not surprisingly, we are going to be EXPLOITED!!!