Can China Help Solve Finance Crisis?

The global financial crisis is far from over and Asia is badly affected. On Thursday, Japan’s Nikkei suffered another record loss -- falling 11.4 percent in the biggest one-day plunge in decades. Stock markets didn’t only nosedive in Japan but across the continent, including in China, which has received quite some attention of late thanks to its huge foreign exchange reserves, which amount to almost to two billion dollars. Some media reports have even suggested that China provoked the US government’s intervention in the banking sector by pulling out money from the mortgage giants Freddie Mac and Fanny Mae.