Take preventive action

A year after the US financial crisis erupted in August 2007, the world economy is still nowhere near the end of slowdown, especially as the unfolding Wall Street shake-up fuels new investor fears.

With Lehman Brothers, a key US investment bank, saying on Sunday that it would file for bankruptcy, the latest big casualty of the US financial turmoil will surely deal another huge blow to weakening confidence in the world's growth perspective.

Though many emerging economies have so far been affected to a much smaller extent by the US financial crisis, they should now brace for greater uncertainties in the world economy.