SECTION I: Aftermath of Sub-Prime Loan Fiasco
I-1. USA & Europe
---------
The International Monetary Fund estimated that large U.S. and European banks lost more than $1 trillion on toxic assets and from bad loans from January 2007 to September 2009. These losses are expected to top $2.8 trillion from 2007-10. U.S. banks losses were forecast to hit $1 trillion and European bank losses will reach $1.6 trillion.
http://en.wikipedia.org/wiki/2007_Subprime_mortgage_financial_crisis
---------
So, it is no wonder that Greece has fallen into such a financial crisis.
I-2. JAPAN
It is estimated that the total loss the Japanese financial sector suffered in the subprime-loan triggered crisis reached almost $20 billion.
(http://detail.chiebukuro.yahoo.co.jp/qa/question_detail/q1328985303)
Japan could avoid being directly drawn to the Wall Street crisis, but it had to suffer a sharp drop in export to America. As its economy came to more rely on export to Asia and China, it has been further under a stronger deflation pressure.
I-3. China
---------
After Wall Street Losses, China Fund Said to Shift Focus
February 20, 2009, 7:04 am
The $200 billion Chinese sovereign wealth fund is shifting its investment focus to natural resources, fixed income and real estate after having made losing bets on high-profile American financial firms, Reuters reported, citing people familiar with its strategy.
The China Investment Corporation, headed by a former Vice Finance Minister Lou Jiwei, has drawn criticism at home over large paper losses on its combined $8.6 billion investments in the U.S. private equity giant the Blackstone Group and the Wall Street bank Morgan Stanley.
Sovereign wealth funds have drawn close attention in recent years, in part because of concern in some capitals about ownership of crucial assets by foreign governments. More recently, markets have looked to funds like C.I.C., Temasek of Singapore and the Abu Dhabi Investment Authority as potential rescuers of distressed financial firms.
Mr. Lou, traveling in Washington and New York this week, was scheduled to meet with top executives of Wall Street firms including Blackstone, Morgan Stanley and the Carlyle Group, all of which are very interested in attracting C.I.C. investment.
But people in Chinese government and finance who were familiar with Mr. Lou’s thinking told Reuters that the chances that such investments would be made were slim, at least for 2009.
Zhou Yuan, the new head of C.I.C.’s alternative investment team, told his staff in a recent closed-door meeting that in the near term, C.I.C. was also unlikely to invest in any fund of foreign private equity funds, according to Reuters.
...
http://dealbook.blogs.nytimes.com/2009/02/20/after-wall-street-losses-china-fund-said-to-shift-focus/
---------
In fact, China diverted its investment from Wall Street to the domestic real estate market, causing a quasi-bubble now.
It is very likely that China baffled the recent American missionary to Beijing led by Secretary Mrs. Clinton and Mr. Geithner probably requesting more investment into America.
It is very unlikely that China would do anything to help the Obama Administration decrease an unemployment rate, since diverting money from the domestic market to America means an increase in an unemployment rate in China which leads to a crisis of the Chinese Government.
However, China will keep an outwardly friendly relationship with Wall Street, since China now understands that Wall Street is untrustworthy as much as themselves.
SECTION II: Measures of Human Value
Great men never do manual work but issue orders to workers.
This is a kind of commonsense in Korea, China, India, the Islamic world, Europe, and Americas.
But, in Japan, great men often do manual work without taking a position to issue orders to workers, though such men are respected so much to be great.
And, Jesus Christ said that those who want to be a leader must serve others as a servant.
Only Japanese are following the teaching of Jesus Christ.
Men do not live and work only to be a kind of noble men possessing big fortunes and enjoying riches.
This is a traditional Japanese teaching.
Japan can thus lead the world so long as it is faithful to this tradition.
And, you should know what crimes and sins they have done secretly to be successful men, rich men, noble men, leaders, and the so-called great men in Korea, China, India, the Islamic world, Europe, and Americas.
So, Japanese way of judgment on human value is the most matured as conforming to the teaching of the God and Allah.
Japan can thus lead the world so long as it is faithful to this judgment.
*** *** *** ***
Mat 5:24 Leave there thy gift before the altar, and go thy way; first be reconciled to thy brother, and then come and offer thy gift.
Mat 5:25 Agree with thine adversary quickly, whiles thou art in the way with him; lest at any time the adversary deliver thee to the judge, and the judge deliver thee to the officer, and thou be cast into prison.
Mat 5:26 Verily I say unto thee, Thou shalt by no means come out thence, till thou hast paid the uttermost farthing.