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In January, Taiwan and the Philippines saw the value of exports plummet by over 40% compared with a year earlier.

That's great in a bull market, but does nothing to preserve money during a steep downdraft.

Monetary policy cannot counteract this, since all three are pegged to the euro. And fiscal policy offers no respite.

With international banks failing and stock markets crashing, this is not the easiest of times to make the case for globalisation.

abc company incurred substantial losses during the stock market crash.

The promised added barrels from Saudi Arabia come as output has fallen sharply in other big producing countries.

Property prices have tumbled by two-thirds since the financial crisis of 1998.

That's due both to lower demand and tighter lending standards: unused lines of credit fell by a dramatic 30% in the first quarter.

The cartel has been bitten in the past when a mix of surging supply and slumping demand has sent prices plummeting.