Seoul, South Korea — The fate of South Korea-based automaker SsangYong Motor looks uncertain with the refusal of the Seoul government and its Chinese parent firm to inject bailout cash in the company. Unionized workers in the troubled automaker resist restructuring and other sweeping changes.

Beijing, China — Recently, suspense and anxiety has come to surround housing prices in China, as Chinese central and local authorities are hastily issuing policies aimed at boosting the real estate industry. As the whole world is falling victim to the global financial crisis, China’s real estate industry is no exception.

Tokyo, Japan — To reduce the number of bankruptcies among small and mid-size real estate developers, the Japanese government has announced a US$2.80 billion financing program for the real estate and housing sectors. Also, an emergency loan program will provide loans to real estate developers and investment trusts.

Beijing, China — While U.S. Congressmen were arguing as to whether the government should save General Motors Corp. from bankruptcy, the Chinese government quietly announced a capital injection into two of its largely state-owned airlines – without consulting the National People’s Congress.

Seoul, South Korea — South Korea has vowed to achieve a 3 percent economic growth next year, much higher than its central bank's projection, with aggressive fiscal spending, tax cuts and massive restructuring despite a global economic slowdown. This is expected to get the economy back on its normal growth track.

New York, NY, United States — China is not immune from the global economic crisis. It has shown no interest in lending its support to crippled Western financial institutions, but that doesn’t mean China will stand on the sidelines as other opportunities knock. Detroit could represent a windfall for the Chinese.

Kolkata, India — Ramaa, a 45-year-old widow from a remote village in the Indian state of Bihar, set up a grocery store with US$120 loaned by Casper Microfinance, a lender of small loans to the poor. The mother of two recently spent her savings and wants to borrow again. However, Casper Microfinance has no money to lend.

Tokyo, Japan — Amid the prolonged slowdown in the global economy, the real estate investment market in Tokyo sees a beacon of hope. In the 2009 edition of “Emerging Trends in Real Estate Asia Pacific,” Tokyo ranked first in the Asia-Pacific region in terms of investment prospects and risk ratings.

Kolkata, India — In an all-out attempt to stimulate the country’s sagging economy, the Indian government announced a US$10 billion stimulus package over the weekend. While it is India’s most aggressive fiscal measure to date, it may not be enough to shield the economy from the deepening global financial crisis.

Toronto, ON, Canada — Oil, priced at US$147 a barrel three months ago, was predicted to hit US$200 a barrel, strengthening calls for alternative energy sources. Current oil prices are down, but only temporarily. In comparison, nuclear energy is cheaper and looking ever more appealing.

Seoul, South Korea — South Korea has prepared a support package to help the country's carmakers, which are struggling with shrinking demand as they are hit by the economic slump at home and overseas. The "crisis response" package would include tax cuts, long-term loans, financial incentives and measures to reduce labor protests.

Tokyo, Japan — Following the Cabinet Office’s announcement of Japan’s GDP for July to Sept. on Nov. 17, which officially confirmed that the nation had entered its first recession since 2001, the impact of the global credit crunch continues to grow in the world’s second-largest and “least ugly” economy.

Kolkata, India — China’s decision to cancel export duty on some 102 steel products, beginning December 1, could see it flood Indian markets with cheap priced steel items, according to India's steel industry. Exporters in China have started shipping steel to India at “ridiculously low prices,” in a bid to clear stock.

Beijing, China — China announced on Nov. 9 that it would inject US$585 billion into the economy by 2010 in response to the global economic downturn. One week later, 24 of the country’s 34 provincial-level governments had submitted proposals worth a total of US$26.4 trillion. Everyone is eager for a slice of the budget pie.

Seoul, South Korea — South Korea posted a record current account surplus in October on lower fuel import costs, relieving market concerns about dollar-funding shortages and a possible contraction of the economy, the central bank said Wednesday.

Seoul, South Korea — North Korea has sped up efforts to develop its northwestern industrial city of Sinuiju, bordering China, as a special economic zone in a bid to expand economic cooperation with its communist ally, Seoul sources and media reports said Wednesday.

Toronto, ON, Canada — The United States has failed to understand that in the last 20 years the balance of economic power has shifted in favor of emerging economies. The United States, Europe and Japan are being challenged economically by China, India, Brazil and Russia. The dominance of the U.S. dollar is coming to an end.

Ningbo, China — The G20 world leaders assembled in Washington last weekend to look for solutions to the current global financial crisis. The conference venue itself symbolizes the fact that Washington must continue to play an essential role in upholding the world financial system.

Kolkata, India — Summits are a success only when the participants agree on what they want to do and set about working on their pre-defined tasks. The G-20 meeting in Washington D.C. last weekend achieved nothing like that, but at least 20 top leaders sat down together rather than the usual seven or eight.

Seoul, South Korea — Many South Korean companies are facing losses incurred by currency option contracts intended to hedge against the local currency's rise against the U.S. dollar. But the derivatives have become liabilities due to the unexpected depreciation of the won amid the recent global financial turmoil.

New York, NY, United States — As a global economic crisis looms, the world turns its eyes to China. Responses have been positive toward China’s announcement of a US$586 billion economic stimulus package. The money will fund infrastructure, aid poor farmers and subsidize exports – and most importantly, fund science and education.

Kolkata, India — India’s film industry is beginning to feel the heat of the global meltdown. With box office revenues rapidly falling, moviemakers are holding back on launches and aborting new projects. Most at risk are small-budget films and producers.

Beijing, China — Thousands of domestic migrant workers in China’s southeastern coastal cities have been packing their bags and heading home due to the closure of factories following a drop in the country's exports. The government wants to replace export demand with domestic consumption, but this is easier said than done.

Kolkata, India — Rising costs and the global financial tsunami is rapidly impacting India’s airline industry, which is facing its worst slump in years. While the repercussions of the financial crisis on the airline industry was anticipated, no one thought it would be that bad.

New York, NY, United States — With its “black screen” tactics on computers using fake software in China, Microsoft has angered the Chinese, who are accusing the company of abusing its software monopoly. But Microsoft has encountered relatively little trouble in China, thanks to its excellent relationships with top figures.

Brisbane, Australia — The Australian government is set to woo Indian tourists with its first national tourist office, which opened in Mumbai on Monday. The move demonstrates the government's commitment to develop what is seen as the industry’s most important emerging market.

Seoul, South Korea — South Korea's central bank cut its key interest rate on Friday for the third time in less than a month, warning the economy could suffer bigger-than-expected economic damage in the wake of the global financial crisis.

New York, NY, United States — With its “black screen” tactics on computers using fake software in China, Microsoft has angered the Chinese, who are accusing the company of abusing its software monopoly. But Microsoft has encountered relatively little trouble in China, thanks to its excellent relationships with top figures.

Kolkata, India — Debunking claims by experts and the government that India may still ride through the global economic meltdown without much pain, the grim reality of a downturn has finally hit India where it hurts the most: jobs.

Seoul, South Korea — Upbeat about the conclusion of a currency swap deal with the United States that has stabilized Seoul's financial markets, South Korean President Lee Myung-bak stepped up his campaign on Thursday for overhauling the international financial system.

Brisbane, Australia — Around 1.9 million workers in Australia are defaulting on mortgage and credit card payments, a Sydney study has found, as households struggle to cope with an economy on the slide. Some have had retirement funds wiped out or assets frozen by financial firms not covered by a government guarantee on deposits.

Toronto, ON, Canada — The U.S., European and Chinese economies are so interlinked that a significant decline in orders to Chinese factories could send its economy into a depression. As the West falls into recession, its demand for consumer goods will decline. This collapse in demand does not bode well for Chinese exports.

Kolkata, India — European Commission President Jose Barroso urged China, India and Japan to "be on board” at the Asia-Europe Meeting in Beijing over the weekend. Apparently exasperated with the United States, Europe is eager for a new alliance in seeking to resolve the global financial crisis.

Seoul, South Korea — South Korea's economy grew at its slowest pace in four years in the third quarter, sparking fears that Asia's fourth-biggest economy is headed for its first recession since the financial crisis a decade ago. Samsung posted a 44 percent drop in quarterly profits as Seoul shares tumbled over 10 percent Friday.

Gumi, South Korea — With the Wall Street upheaval reminding Asia of its own financial meltdown a decade ago, South Korea is striving to attract foreign direct investment as a long-term means of shielding itself from another foreign-currency crisis. Municipal governments are largely leading the campaign for foreign capital.

Kolkata, India — India is over the moon – or will be soon – as it prepares to launch its first lunar mission from an island off the Bay of Bengal. The launch of the unmanned spacecraft Wednesday comes one month after China’s spacewalk, and puts India firmly in the space race with its ambitious neighbor.

Toronto, ON, Canada — The media is revealing the names of erring executives of Wall Street responsible for the current financial meltdown, which is almost certain to lead to a recession, or even depression. The Wall Street we have known will soon cease to exist; some of the millionaire executives will become paupers.

Seoul, South Korea — South Korea's desperate financial rescue package, highlighted by US$130 billion in state guarantees and capital injections, failed to give a major boost to local markets on Monday, with lingering fears of capital flight and cross-border contagion.

Kolkata, India — When crude oil touched a high of US$147 in July this year, the insatiable demand in China and India bore the brunt of the blame. Now, as oil prices continue to slide following the global financial crisis that has dented consumer confidence, the same two countries may exacerbate the collapse.

Ningbo, China — The Chinese Communist Party has announced plans to stimulate and transform the country’s rural economy in an effort to bridge the gap between urban and rural areas. A plan announced Sunday will give farmers more rights, responsibility and flexibility in their use of the land.

Daly City, CA, United States — The financial crisis in the United States has weakened the economies of many nations. Asians share the global anxiety, remembering the 1997 Asian financial crisis. They also remember being told not to bail out companies and banks that were in deep trouble; that they should be allowed to go bankrupt and perish.

Beijing, China — The Chinese Communist Party has issued a communiqué promising measures to deepen reform of rural land management rights. It aims to give residents greater incentives to leave the farm for cities or make agriculture more efficient if they decide to stay.

Beijing, China — Analysts in a variety of domestic and foreign fields no doubt find it disturbing that neither U.S. presidential candidate has delved into detail as to his immediate plans and long-term objectives for U.S. policy regarding China, with its economic and political challenges, once he takes office in January 2009.

West Lafayette, IN, United States — In a country wrecked by a decade of civil war, a decaying infrastructure, a roller coaster of a business environment and limited internal revenue sources, the mammoth budget unveiled by Nepal’s new Maoist-led government during its Constituent Assembly meeting last month seems like an unaffordable extravagance.

Seoul, South Korea — South Korea is struggling to reduce economic fallout from escalating global financial turbulence, with warnings that Asia's fourth-biggest economy could be the latest victim of the Wall Street-created economic meltdown.

Kolkata, India — Stung by collapsing equity markets and the pressures exerted by the global financial meltdown on India’s financial system, regulators swung into action Monday and announced some important policy measures to restore confidence and infuse liquidity in the country’s financial system.

Toronto, ON, Canada — For its excesses, Wall Street is now in turmoil. People on Main Street argue that Wall Street created this financial crisis and ordinary people should not be the ones to suffer. The truth is that Wall Street operators knew the risks and decided to insulate themselves by making Main Street dependent on them.

Seoul, South Korea — South Korea's foreign currency reserves dropped for a sixth consecutive month in September, the longest period of decline on record, raising a question about the government's ability to protect the economy from a global liquidity squeeze.

Ningbo, China — U.S. President George W. Bush said in a nationally televised address Wednesday night that the United States was facing a serious financial crisis that could lead to a long-term recession. Will this U.S. crisis bring another global economic depression, political turmoil or even trigger a global war?

Hong Kong, China — The George W. Bush administration insists that U.S. Treasury Secretary Henry Paulson’s proposal to provide funds of at least US$700 billion to banks and financial institutions, including foreign banks, needs to be approved within this week. What is the rush?