China said Thursday it hoped the United States would adhere to free trade under Barack Obama, while defending exchange rate policies criticised by the president-elect during his campaign. “We will continue to follow a mutually beneficial foreign policy, we believe in free trade, and we believe America also believes in free trade,” foreign ministry spokesman Qin [...] "eliotcobb.com"
Toyota Motor slashed its profit forecast Thursday, warning the global auto industry faces an “unprecedented” crisis as Asian stocks tumbled on fears the US is sinking deeper towards recession. The Japanese giant became the latest automaker to reveal plunging profits due to the financial crisis, following on the heels of BMW, Nissan and Honda. Toyota , vying [...] "eliotcobb.com"
Italy’s famously impolitic Prime Minister Silvio Berlusconi described U.S. President-elect Barack Obama on Thursday as “young, handsome and even tanned.” Berlusconi appeared to be joking about America’s first black president at a news conference following talks with Russia’s president. The Italian leader, who has a history of controversial remarks, was asked by a reporter about the prospect [...] "eliotcobb.com"
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