(This is a new column by David Marsh, a long-time financial and economics journalist who is now chairman of London and Oxford Group, a British merchant bank. This column also appeared Monday in German business newspaper Handelsblatt).

We continue to believe that the dollar is seriously undervalued and, now that the global economy is less divergent than in 1H08, it will be more difficult for it to weaken further, even if the US economy slows further in the coming quarters.

During his trip to the United States, Prime Minister Kevin Rudd says Australia's banks and the domestic economy are well placed to weather the global financial crisis.

Growth in the Chinese economy and the falling U.S. dollar have made New York a buyer's market for Chinese tourists, who have their eyes on luxury brands unavailable in China because of supply and import restrictions.

A respected economist who specializes in tracking trends in the Midwest told local business leaders yesterday that the nation's economy is definitely in recession, but it's not likely to last as long as most people might think. Ken Mayland, who was ch