China's Zhou promises rapid action if needed

Zhou Xiaochuan, the governor of the People's Bank of China, has pledged to act speedily and forcefully to prevent a slump in confidence during the financial crisis.

"If we act slowly and less decisively, we're likely to see what happened in other countries: a slide in confidence," said Zhou in a press briefing in Beijing on Friday, adding: "In particular, we have to prevent being too slow-handed or light-handed in responding. We must err on the side of being quick and decisive."

He said that

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