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Singapore's exports collapsed by a stunning 35 percent in January, mirroring much of the rest of Asia. The export boom here was tied to credit-fueled buying sprees in the United States that stopped abruptly and may take years to return, if ever. Manufacturers are grasping for a Plan B. But none of the options -- mining domestic markets, or trying to tap consumers in still-growing China and India -- offers a truly viable solution.

"The collapse of globalization . . . is absolutely possible," said Jeffrey Sachs, a noted American economist. "It happened in the 20th century in the wake of World War I and the Great Depression, and could happen again. Nationalism is rising and our political systems are inward looking, the more so in times of crisis."

Economists from Credit Suisse predict an exodus of 200,000 foreigners -- or one in every 15 workers here -- by the end of 2010.

credit card companies and banks gave the same kind of cooperation to the government that phone companies did

in 2006 that the NSA obtained access to financial records in the international SWIFT database

the agency may have obtained bulk data on domestic credit card transactions as well from U.S. financial institutions -- all without a warrant

Under the category "Cisco Opportunities," the document provides bullet point suggestions for how it might service China's censorship system called the "Golden Shield", and better known in the West as the Great Firewall of China. China's "Golden Shield" project was one of several government-run commercial opportunities for Cisco in 2002. Credit: Cisco The document is the first evidence that the networking giant has marketed its routers to China specifically as a tool of repression.

美林(Merrill Lynch)首席执行官约翰•塞恩(John Thain)拒绝支持其他华尔街掌门人的乐观论调。他们表示，信贷紧缩最严重的影响已经过去。

塞恩认为，消费者刚刚开始感受到食品及能源价格上涨的影响。

这是美林连续第三个季度出现亏损，其业绩不及分析师的预期。

受到信贷紧缩的影响，加之联邦保险教育贷款盈利能力不断下降，越来越多的私营及公共贷款机构正在停止发放学生贷款。由于多数贷款安排介于现在至许多大学开学时的8月份之间，这一问题正变得日益紧迫。颇具影响力的美国参议院银行委员会周二将就此问题向学生融资专家小组提出质询。

We hear that Tibetans suffer “demographic aggression” and “cultural genocide”. But we do not hear those terms applied to Spanish and French policies toward the Basque minority. We do not hear those terms applied to the US annexation of the Kingdom of Hawaii in 1898. And Diego Garcia? In 1973, not so long ago, the UK forcibly deported the entire native Chagossian population from the Indian Ocean island of Diego Garcia. People were allowed one suitcase of clothing. Nothing else. Family pets were gassed, then cremated. Complete ethnic cleansing. Complete cultural destruction. Why? In order to build a big US air base. It has been used to bomb Afghanistan and Iraq, and soon maybe to bomb Iran and Pakistan. Diego Garcia, with nobody there but Brits and Americans, is also a perfect place for rendition, torture and other illegal actions.

The Chinese Context The Chinese government is responsible for the well-being and security of one-fourth of humanity. Race riots and rebellion cannot be tolerated, not even when done by Buddhist monks. Chinese Civilization was already old when the Egyptians began building pyramids. But the last 200 years have not gone well, what with two Opium Wars forcing China to import drugs, and Europeans seizing coastal ports as a step to complete colonial control, then the Boxer Rebellion, the collapse of the Manchu Dynasty, civil war, a brutal invasion and occupation by Japan, more civil war, then Communist consolidation and transformation of society, then Mao’s Cultural Revolution. Such events caused tens of millions of people to die. Thus, China’s recent history has good reasons why social order is a higher priority than individual rights. Race riots and rebellion cannot be tolerated. Considering this context, China’s treatment of its minorities has been exemplary compared to what the Western world has done to its minorities. After thousands of years of Chinese dominance, there still are more than 50 minorities in China. After a few hundred years of European dominance in North and South America, the original minority cultures have been exterminated, damaged, or diminished.

China’s one-child-policy seems oppressive to Westerners, but it has not applied to minorities, only to the Han Chinese. Tibetans can have as many children as they choose. If Han people have more than one child, they are punished. There is a similar preference given to minorities when it comes to admission to universities. For example, Tibetan students enter China’s elite Peking University with lower exam scores than Han Chinese students. China is not a perfect nation, but on matters of minority rights, it has been better than most Western nations. And China achieved this in the historical context of restoring itself and recovering from 200 years of continual crisis and foreign invasion.

Hedge fund managers and other investors are looking to capitalize on the potentially huge market in trading pollution-emission credits.

What can Facebook and Western social networks learn, if anything? If monetizing a social network is so easy, then why hasn’t Facebook opened up its payment API to third party developers? While the aggressive and intrusive hyper-viral aspects of the apps in China may not be replicable in a Western Market, the problems for creating a more viable business model run deeper. Western companies cannot innovate in the same way due to institutional problems stemming from their own struggle for an identity and revenue. Facebook has just recently announced a “credits” system, but it seems to miss the mark. The new system demonstrates little incentive for users to shell over money, and does not speak to the same need as paying for a social application that all your friends are already on and talking about. Facebook may be afraid to become a marketplace for applications, because they are reluctant to be labeled as a social gaming network or a social app store. Instead, they are a self-styled guru of dynamic human interaction. If they opened up their platform to become an apps store, their major revenue streams would put them into a pigeonhole, calling their $15 billion valuation into question. They obviously don’t want to be labeled as a “gaming platform” either, and don’t want to fully depend on selling digital trinkets. Like during the American gold rush in 1849, where Chinese merchants prospered while most prospectors went bust in search of striking gold, it appears that building viable, scalable businesses for Social Networking sites may still be an ancient Chinese secret for Westerners.