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And in the wake of a crisis, demand multiplies.
"Every time there is a new crisis, demand goes up," Mr. Salinger said.
She explains that "in times of crisis, demand for Treasuries spikes, pushing prices higher and sending yields lower, occasionally down into muni territory".
Even such sceptics as David O'Reilly, one of Chevron's bosses, who continues to pooh-pooh what he calls a temporary "price siege", still worry that, because of Asia's crisis, demand might not rebound.
While property prices in other capitals, and in the rest of Britain, have fallen during the economic crisis, demand for central-London property from emerging markets has pushed prices in the city up still further.There is a larger upside.
That difference helps explain why, though both systems experienced problems after 2008 only the European system sank into serious financial crisis: demand for safe dollar assets when trouble struck while demand for riskier peripheral bonds tumbled (until the European Central Bank intervened decisively).Where does all this leave the world economy?
Similar(46)
Fighting this crisis demands resolve and commitment.
We believe there is a fiscal crisis demanding urgent action".
More important, unemployment is a crisis demanding immediate action.
"Not at all: a crisis demands a hero.
This is radical stuff, but this crisis demands it.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com