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Calls grow for a new model for global trade

Stock markets in Japan (top) and Brazil went through another tumultuous day yesterday. Many nations are sharing in the panic caused by the bursting of the US subprime mortgages bubble, just as they earlier shared in the wealth it created. Stock markets in Japan (top) and Brazil went through another tumultuous day yesterday. Many nations are sharing in the panic caused by the bursting of the US subprime mortgages bubble, just as they earlier shared in the wealth it created. (Michael Caronna/ Reuters)
By Robert Weisman
Globe Staff / October 9, 2008

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Now come the second thoughts on globalization. Never before have world markets been so integrated. And yesterday's concerted interest rate cuts by central banks in the United States and other countries from Britain to China was a signal that the financial crisis rippling around the globe has grown too big for any one of them - even the US Federal ... (Full article: 1053 words)

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