USEUROPEAFRICAASIA 中文双语Français
Home / World

The US as a global risk generator

By Kevin P. Gallagher | China Daily | Updated: 2013-07-01 09:10

The US as a global risk generator

The US economy continues to have a hard time recovering from the global financial crisis. So the last thing one would expect the US government to do is to engage in policies that open the floodgates to severe risks in financial markets again. And yet it is precisely doing that.

For all the attention being paid to the Federal Reserve's "tapering", what Washington has in its crosshairs is something quite different. It is putting massive pressure on the Commodity Futures Trading Commission and the Security and Exchange Commission. Unless policymakers, and the public at large, act quickly to counter that pressure, the disastrous past - a financial industry running amok - may well be not just be the US' national but also the common global future.

How is this even possible? Even though the US Congress passed the Dodd-Frank financial reform law a few years ago as a bulwark against reccurring financial crises, the legislation actually left most of the key decisions - the actual detailed rule making to rein in the financial industry - for later.

The US as a global risk generator

Today's Top News

Editor's picks

Most Viewed

BACK TO THE TOP
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US