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	<title>World Economy in Chaos</title>
	<atom:link href="http://sovereignwealthfun.wordpress.com/feed/" rel="self" type="application/rss+xml" />
	<link>http://sovereignwealthfun.wordpress.com</link>
	<description>Viewing world economy from a journalist's eyes</description>
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		<title>World Economy in Chaos</title>
		<link>http://sovereignwealthfun.wordpress.com</link>
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		<item>
		<title>The devastating quake shakes the nation, and stock market of China</title>
		<link>http://sovereignwealthfun.wordpress.com/2008/05/13/the-devastating-quake-shakes-the-nation-and-stock-market-of-china/</link>
		<comments>http://sovereignwealthfun.wordpress.com/2008/05/13/the-devastating-quake-shakes-the-nation-and-stock-market-of-china/#comments</comments>
		<pubDate>Tue, 13 May 2008 10:50:21 +0000</pubDate>
		<dc:creator>julianlei</dc:creator>
				<category><![CDATA[China]]></category>
		<category><![CDATA[earthquake]]></category>
		<category><![CDATA[stock market]]></category>

		<guid isPermaLink="false">http://sovereignwealthfun.wordpress.com/?p=13</guid>
		<description><![CDATA[Quake tremors the market The earthquake catastrophe happened yesterday in Sichuan province in China shocked the whole world community. The shockwave today rippled to the Chinese stock market.   The Shanghai composite index dropped 1.84%, as the sentiment in the market became low due to the hovering uncertainty of the situation in Sichuan. Moreover, 66 Sichuan-based [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=sovereignwealthfun.wordpress.com&amp;blog=3059499&amp;post=13&amp;subd=sovereignwealthfun&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
		<wfw:commentRss>http://sovereignwealthfun.wordpress.com/2008/05/13/the-devastating-quake-shakes-the-nation-and-stock-market-of-china/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
	
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			<media:title type="html">julianlei</media:title>
		</media:content>

		<media:content url="http://sovereignwealthfun.files.wordpress.com/2008/05/hand.jpg?w=300" medium="image">
			<media:title type="html">A primary schook child died in the quake. A pen is tightly grasped in his little hand./Xinhua News Agency</media:title>
		</media:content>
	</item>
		<item>
		<title>Securities and Exchange Commission stitches bleeding scars in market, in a rush</title>
		<link>http://sovereignwealthfun.wordpress.com/2008/05/09/securities-and-exchange-commission-stitches-bleeding-scars-in-market-in-a-rush/</link>
		<comments>http://sovereignwealthfun.wordpress.com/2008/05/09/securities-and-exchange-commission-stitches-bleeding-scars-in-market-in-a-rush/#comments</comments>
		<pubDate>Fri, 09 May 2008 11:30:24 +0000</pubDate>
		<dc:creator>julianlei</dc:creator>
				<category><![CDATA[World]]></category>
		<category><![CDATA[Bear Stearns]]></category>
		<category><![CDATA[credit crisis]]></category>
		<category><![CDATA[SEC]]></category>
		<category><![CDATA[Wall Street]]></category>

		<guid isPermaLink="false">http://sovereignwealthfun.wordpress.com/?p=12</guid>
		<description><![CDATA[The financial market has been bleeding badly since last summer when the sub-prime led credit crisis struck the investment banking sector, bringing the fifth investment bank Bear Stearns to demise. Among mounting worries that big-name banks are going to post more massive write-downs, the SEC finally comes to the front, playing hero.   SEC gets [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=sovereignwealthfun.wordpress.com&amp;blog=3059499&amp;post=12&amp;subd=sovereignwealthfun&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
		<wfw:commentRss>http://sovereignwealthfun.wordpress.com/2008/05/09/securities-and-exchange-commission-stitches-bleeding-scars-in-market-in-a-rush/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
	
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			<media:title type="html">julianlei</media:title>
		</media:content>

		<media:content url="http://sovereignwealthfun.files.wordpress.com/2008/05/bear-stearns.jpg?w=300" medium="image">
			<media:title type="html">Bear Stearns in a woe/www.soxfirst.com</media:title>
		</media:content>
	</item>
		<item>
		<title>Hot money covets China</title>
		<link>http://sovereignwealthfun.wordpress.com/2008/05/06/hot-money-covets-china/</link>
		<comments>http://sovereignwealthfun.wordpress.com/2008/05/06/hot-money-covets-china/#comments</comments>
		<pubDate>Tue, 06 May 2008 07:31:35 +0000</pubDate>
		<dc:creator>julianlei</dc:creator>
				<category><![CDATA[China]]></category>
		<category><![CDATA[credit crunch]]></category>
		<category><![CDATA[hot money]]></category>
		<category><![CDATA[RMB]]></category>

		<guid isPermaLink="false">http://sovereignwealthfun.wordpress.com/?p=10</guid>
		<description><![CDATA[An estimated US$80 billion hot money flushed into China mainland in the first season, leaving the accumulative sum to a whopping US$800 billion. The speculative money finds China a haven for the following reasons.   1, China is somewhat insulated to the credit crunch As the economy in US and other developed markets are experiencing [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=sovereignwealthfun.wordpress.com&amp;blog=3059499&amp;post=10&amp;subd=sovereignwealthfun&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	
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			<media:title type="html">julianlei</media:title>
		</media:content>

		<media:content url="http://sovereignwealthfun.files.wordpress.com/2008/05/hot-money.jpg?w=300" medium="image">
			<media:title type="html">A bank worker counts money at a China Construction Bank branch in Hai\&#039;an, Jiangsu.  [China Daily/file]</media:title>
		</media:content>
	</item>
		<item>
		<title>Fed cuts rate again, but less desperately</title>
		<link>http://sovereignwealthfun.wordpress.com/2008/05/01/fed-cuts-rate-again-but-less-desperately/</link>
		<comments>http://sovereignwealthfun.wordpress.com/2008/05/01/fed-cuts-rate-again-but-less-desperately/#comments</comments>
		<pubDate>Thu, 01 May 2008 14:08:57 +0000</pubDate>
		<dc:creator>julianlei</dc:creator>
				<category><![CDATA[World]]></category>
		<category><![CDATA[credit crunch]]></category>
		<category><![CDATA[Fedral reserve]]></category>
		<category><![CDATA[interest rate]]></category>
		<category><![CDATA[sub-prime mortgage]]></category>

		<guid isPermaLink="false">http://sovereignwealthfun.wordpress.com/?p=9</guid>
		<description><![CDATA[US Federal Reserve announced early this morning that the federal funds rate will be cut to 2% from 2.25%. It is fed’s seventh cuts in a row since the credit crunch unfolded last summer. So far the aggregate rate cuts accumulate to 3.25 percentage points.   Fed may suspend rate cutting   Compared with the previous [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=sovereignwealthfun.wordpress.com&amp;blog=3059499&amp;post=9&amp;subd=sovereignwealthfun&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	
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			<media:title type="html">julianlei</media:title>
		</media:content>

		<media:content url="http://sovereignwealthfun.files.wordpress.com/2008/05/ben.jpg?w=276" medium="image">
			<media:title type="html">Ben Bernanke/AP Photo</media:title>
		</media:content>
	</item>
		<item>
		<title>CITIgroup customers mourn over worse-than-expected loss in funds</title>
		<link>http://sovereignwealthfun.wordpress.com/2008/04/29/citigroup-customers-mourn-over-worse-than-expected-loss-in-funds/</link>
		<comments>http://sovereignwealthfun.wordpress.com/2008/04/29/citigroup-customers-mourn-over-worse-than-expected-loss-in-funds/#comments</comments>
		<pubDate>Tue, 29 Apr 2008 15:26:22 +0000</pubDate>
		<dc:creator>julianlei</dc:creator>
				<category><![CDATA[World]]></category>
		<category><![CDATA[credit crisis]]></category>
		<category><![CDATA[funds]]></category>
		<category><![CDATA[job cut]]></category>

		<guid isPermaLink="false">http://sovereignwealthfun.wordpress.com/?p=8</guid>
		<description><![CDATA[Two hedge funds affiliated to CITIgoup.Inc send their investors in real panic by reporting more than 75% loss in the value of the funds. The two funds involved branded their products as less-risky fixed income ones. However, the two funds, namely Falcon and ASTA/MAT channelled most of their cash into municipal bonds, mortgage-backed securities and [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=sovereignwealthfun.wordpress.com&amp;blog=3059499&amp;post=8&amp;subd=sovereignwealthfun&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	
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			<media:title type="html">julianlei</media:title>
		</media:content>

		<media:content url="http://sovereignwealthfun.files.wordpress.com/2008/05/city.jpg?w=241" medium="image">
			<media:title type="html">Citi group/thestockmasters.com</media:title>
		</media:content>
	</item>
		<item>
		<title>Headcount cut show in financial industry starts</title>
		<link>http://sovereignwealthfun.wordpress.com/2008/04/28/headcount-cut-show-in-financial-industry-starts/</link>
		<comments>http://sovereignwealthfun.wordpress.com/2008/04/28/headcount-cut-show-in-financial-industry-starts/#comments</comments>
		<pubDate>Mon, 28 Apr 2008 12:47:21 +0000</pubDate>
		<dc:creator>julianlei</dc:creator>
				<category><![CDATA[World]]></category>
		<category><![CDATA[credit crisis]]></category>
		<category><![CDATA[job cut]]></category>
		<category><![CDATA[MBA]]></category>
		<category><![CDATA[recession]]></category>
		<category><![CDATA[Royal Bank of Scotland]]></category>

		<guid isPermaLink="false">http://sovereignwealthfun.wordpress.com/?p=7</guid>
		<description><![CDATA[Today two obtrusive numbers come onto headlines of many financial publications: the Royal Bank of Scotland is going to layoff 7,000 its staff, and UPS will put that figure to 8,000. The horrible scene of job loss in financial market now begins to full-fledge. The big names in the industry will be hit the hardest [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=sovereignwealthfun.wordpress.com&amp;blog=3059499&amp;post=7&amp;subd=sovereignwealthfun&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
		<wfw:commentRss>http://sovereignwealthfun.wordpress.com/2008/04/28/headcount-cut-show-in-financial-industry-starts/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
	
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			<media:title type="html">julianlei</media:title>
		</media:content>

		<media:content url="http://sovereignwealthfun.files.wordpress.com/2008/05/job.jpg?w=131" medium="image">
			<media:title type="html">job cut</media:title>
		</media:content>
	</item>
		<item>
		<title>Number of China internet users: 221,000,000</title>
		<link>http://sovereignwealthfun.wordpress.com/2008/04/27/number-of-china-internet-users-221000000/</link>
		<comments>http://sovereignwealthfun.wordpress.com/2008/04/27/number-of-china-internet-users-221000000/#comments</comments>
		<pubDate>Sun, 27 Apr 2008 20:14:00 +0000</pubDate>
		<dc:creator>julianlei</dc:creator>
				<category><![CDATA[China]]></category>
		<category><![CDATA[Google]]></category>
		<category><![CDATA[internet]]></category>
		<category><![CDATA[IT]]></category>

		<guid isPermaLink="false">http://sovereignwealthfun.wordpress.com/?p=6</guid>
		<description><![CDATA[  It is reported that, by the weekend, China has seen its registered internet users exceed 200 millions, outnumbering the US. The same as its demographic population, China now has the largest internet population of the world; the figure might surprise many dotcoms because they have not expected the change would come so fast. By [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=sovereignwealthfun.wordpress.com&amp;blog=3059499&amp;post=6&amp;subd=sovereignwealthfun&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	
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			<media:title type="html">julianlei</media:title>
		</media:content>

		<media:content url="http://sovereignwealthfun.files.wordpress.com/2008/05/intnet.jpg?w=300" medium="image">
			<media:title type="html">internet users</media:title>
		</media:content>
	</item>
		<item>
		<title>FT’s housing analysis hinges on a vague conclusion</title>
		<link>http://sovereignwealthfun.wordpress.com/2008/04/27/ft%e2%80%99s-housing-analysis-hinges-on-a-vague-conclusion/</link>
		<comments>http://sovereignwealthfun.wordpress.com/2008/04/27/ft%e2%80%99s-housing-analysis-hinges-on-a-vague-conclusion/#comments</comments>
		<pubDate>Sun, 27 Apr 2008 16:53:15 +0000</pubDate>
		<dc:creator>julianlei</dc:creator>
				<category><![CDATA[World]]></category>
		<category><![CDATA[economic recession]]></category>
		<category><![CDATA[Goldman Sachs]]></category>
		<category><![CDATA[housing]]></category>
		<category><![CDATA[stagnation]]></category>

		<guid isPermaLink="false">http://sovereignwealthfun.wordpress.com/?p=5</guid>
		<description><![CDATA[In Finance Times article UK housing slump fears overplayed, FT claims that the housing woe in UK is exaggerated by market and media, and the actual impact by the credit-crisis led economic stagnation won’t damage UK households’ family equity to the extent comparable to that of 1990s.   Flaws in the reasoning The assumption is [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=sovereignwealthfun.wordpress.com&amp;blog=3059499&amp;post=5&amp;subd=sovereignwealthfun&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	
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			<media:title type="html">julianlei</media:title>
		</media:content>

		<media:content url="http://sovereignwealthfun.files.wordpress.com/2008/05/house.jpg?w=300" medium="image">
			<media:title type="html">a new house</media:title>
		</media:content>
	</item>
		<item>
		<title>China stock market erupted 9.3% after government stimulus pack</title>
		<link>http://sovereignwealthfun.wordpress.com/2008/04/24/china-stock-market-erupted-93-after-government-stimulus-pack/</link>
		<comments>http://sovereignwealthfun.wordpress.com/2008/04/24/china-stock-market-erupted-93-after-government-stimulus-pack/#comments</comments>
		<pubDate>Thu, 24 Apr 2008 15:01:33 +0000</pubDate>
		<dc:creator>julianlei</dc:creator>
				<category><![CDATA[China]]></category>
		<category><![CDATA[recession]]></category>
		<category><![CDATA[stock market]]></category>

		<guid isPermaLink="false">http://sovereignwealthfun.wordpress.com/?p=4</guid>
		<description><![CDATA[9.3 percent, Shanghai composite index of China erupted on Thursday, achieving its highest single day session gain in six years. Before that, the market plummeted from the peak of 6014 points late last year to less than 3000 points on Tuesday this week.   Miracle in the market  The dramatic scenario happened after the China [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=sovereignwealthfun.wordpress.com&amp;blog=3059499&amp;post=4&amp;subd=sovereignwealthfun&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	
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			<media:title type="html">julianlei</media:title>
		</media:content>

		<media:content url="http://sovereignwealthfun.files.wordpress.com/2008/05/stock.jpg?w=300" medium="image">
			<media:title type="html">Investor watches closely on the market/New York Times</media:title>
		</media:content>
	</item>
		<item>
		<title>50 billion pounds won&#8217;t solve the problem</title>
		<link>http://sovereignwealthfun.wordpress.com/2008/04/22/50-billion-pounds-wont-solve-the-problem/</link>
		<comments>http://sovereignwealthfun.wordpress.com/2008/04/22/50-billion-pounds-wont-solve-the-problem/#comments</comments>
		<pubDate>Tue, 22 Apr 2008 11:55:28 +0000</pubDate>
		<dc:creator>julianlei</dc:creator>
				<category><![CDATA[World]]></category>
		<category><![CDATA[Alistair Darling]]></category>
		<category><![CDATA[Bank of England]]></category>
		<category><![CDATA[banks]]></category>
		<category><![CDATA[housing]]></category>
		<category><![CDATA[Mervyn King]]></category>

		<guid isPermaLink="false">http://sovereignwealthfun.wordpress.com/?p=3</guid>
		<description><![CDATA[Yesterday, Bank of England announced a £50 billion liquidity injection plan, to underpin the UK financial market, and boost confidence of mortgage takers. The move, though slightly different with the Fed’s desperate cash rescue to banks in States, highlights the administration’s resolve to lift the declining economy; however, it is extremely dangerous for the government [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=sovereignwealthfun.wordpress.com&amp;blog=3059499&amp;post=3&amp;subd=sovereignwealthfun&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	
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			<media:title type="html">julianlei</media:title>
		</media:content>

		<media:content url="http://sovereignwealthfun.files.wordpress.com/2008/05/king.jpg?w=300" medium="image">
			<media:title type="html">Mervyn King, governor of the Bank of England/Bloomberg News </media:title>
		</media:content>
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