October 28, 2011

It was getting harder to focus. Josh had been trying to work on his article for the day but found himself continually looking over at Amy. There was just something about her lately… they’d known each other forever and yet… He wasn’t sure where these feelings were coming from and he wasn’t sure what he was going to do about them, but he was determined to do something about it.

 

For the third day in a row he was writing about the European Union and the financial situation in Europe. Okay, it wasn’t just a situation, it was a crisis. Things were escalating too – Europe’s bailout fund chief had arrived in Beijing today to hold discussions with potential investors. Europe needed assistance to help ease the debt crisis that is now threatening global economic stability.

 

The chief executive of the European Financial Stability Facility (EFSF), Klaus Regling, said he expected to meet with the officials of China’s Ministry of Finance and the People’s Bank of China. Josh could only wonder how those meetings would go. Regling said that it was useful to meet with them so soon after the end of the summit of the EU and to let Beijing know what had happened at said summit. He didn’t expect to get an outcome from the talks, and there were no negotiations going on, they were just regular consultations at the early phases of the situation. (CNN)

 

He didn’t want to say how much the Chinese had invested in the EFSF. He also didn’t say whether China had raised pre-conditions in exchange for extending financial help.

 

Yesterday, Josh had written about how the European countries reached a deal to tackle the debt crisis with a proposal that would give Greece additional bailout support and other measures aimed to boost market confidence.

 

The Chinese president Hu Jintao and the French president Nicolas Sarkozy talked by phone about further economic cooperation, but didn’t discuss any plans for bailout. China has expressed its support for Europe amid the crisis, but only promised to help by resuming trade and investments in safe European bonds. Back in September, Josh could remember writing about how there were concerns that the crisis could maybe lead to trade frictions.

 

China’s economy has also experienced a slump as a result of the economic turmoil in the West, Josh typed into his computer. In September, China’s trade growth slowed as exports increased by their slowest pace in seven months and imports slowed from a month earlier.

 

“Woah,” Amy exclaimed from across the room. She was watching the big screen television mounted up on the wall, which was on mute so that they could concentrate on their work but still know if anything else happened.

 

“What’s going on?” Josh asked, looking up from his computer.

 

“A magnitude 6.9 earthquake just struck southern Peru,” Amy said, looking over at him. “The quake shook buildings in Peru’s capital, the city of Lima. It was centered 50 kilometers south of the coastal city Ica.”

 

Dan Cross came into the room and looked around. “Princeton, I want you on this story. Stop whatever you were working on and get in contact with whoever you have to over there to get information on this quake.”

 

“I’m on it,” Adam reached for the phone and dialed a number.

 

“Canyon, help him out. Finish the Europe article but then focus on the area of Peru. Get geography, weather conditions, population, everything. Tag team on this.”

 

“Yes Sir,” Josh nodded. He was glad he was almost done his article. It was going to be a long night.

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