Markets Rally Despite Gloomy Data

(15 December 08-RV) The International Monetary Fund says Chinese growth could almost halve next year as a global downturn sucks in the world’s biggest emerging economy .Also today the casualty list from the alleged $50 billion Wall Street fraud grew, with HSBC Holdings, Royal Bank of Scotland and Man Group among those acknowledging exposure to the shaky Ponzi scheme. But markets rallied despite the gloomy data, buoyed by expectations that the White House would step in to prevent the collapse of the beleaguered "Big Three" U.S. automakers. We spoke to Economic Analyst Vanessa Rossi at the UK based research Institute, Chatham House who says there will be no end to this downturn anytime soon...