16.10.2008 - Japan hopes for clout in offering global funds
From IHT: Flush with cash after crawling out of its own bad debt crisis, Japan is offering funding to help prop up crumbling financial companies around the world a move that some hope may bolster this nation's standing on the international stage. Japan is sitting on more than US$950 billion in foreign exchange reserves, second only to China's US$1.9 trillion. Together, they control a major pool of funds that could come to the rescue of the West's severely strained financial industry. Options range from helping to provide credit to strapped financial institutions to cash infusions in return for ownership stakes in them..... Full Article: Source