The crisis felt around the world

U.S. financial troubles reverberate in economies from Thailand to Buenos Aires, threatening to drag countries into the downward spiral.

I am down in this Bangkok where traders have been watching this red hours with horror and have been a lot this year. The market is down some 20% in pop because of the political crisis going on here but mostly because of the global critical crunch. People worry because Thailand is next export economy. It could be hit badly if there is a global slowdown. One analist spoke to this opertimistic, he said Thailand got its fingers burn in the financial crisis more than 10 years ago. This time Thailand is better to prepare. I am here in the port of Hongkong. This port is one of the busiest in the world. You can tell this by all these trucks that are circulating around me. These trucks are mainly carrying goods that are made in China. And those goods are then shipped all over the world to countries like the United States. Now US economy is slowing down and that's contribute to the closure of thousands of factories right across the boarder because the exports are falling. The concern now is that if the US economy is continuing to slow down, follow into recession, China's economy could also falter. I am L the heart of Beijing's financial district where there are few things on s I told you so. Here at the people's bank of china where they set monetary policy, they resist calls for deregulation and for mereing the US financial system. Because that direct China's markets is unlikely. That doesn't mean there is no impact. The stock markets have fallen somewhat, investors are worried. But the government has stepped in with small measures trying to bring those investors back in. I am David M outside Arabic stock exchange here in K. K is very g about financial crisis in the US. This exchange has lost over a quarter of its value this year because of political instability here in K and not financial crisis in America. K is hoping for politicians on capital to sort out some bailout for the financial system because the economy here is very much tight to the economy in the US. I am H opposite street in central London, one of the busiest shopping streets in the country. Here the sale signs are all ready. Retailers are facing higher costs of food and utility bills and of course the weaking pound. Analists suggest many retailers are trying to pause high volume of goods a bargain prices or the attempt to key ring. I am G outside Madrid city hall, here the lastest sign the US economy worries are also griping Spain. The city has just freeze plans store's facilities and daycare centers for children to save three hundred million dollars. Spanish newspapers are leading with the block financial rescue plan in Washington. Some are blaming republicans. Spain makes 3 million cars a year mainly for export but many car factories here are cutting their work shifts because the demand is down by a third. I am A outside the A officers in downtown Rome. The US financial crisis could make matters worse for the Italian national airline here. It's bankrupt but it keeps flying because it's been rescured by a group of italian investors include S. S have business financial ties to US financial institutions. And the worse things going in the US the harder it is for these banks and institutions to come up with enough cash and enough money to keep the airline fly. I am B in the N neighood in B Argentina. It's line with a lot of national cafes and bars. Argentinas are used to economic instability. The fact in 2001 they had the largest dead fall in mordern history 100 billion dollars. People back here pay close attention to what's happening in US during its financial crisis. Inflation is main problem here right now. A restaurant like this the prices of food inflate all the time. A remain f that the crisis in the US is not resolved, the fall up here to be much worse than their financial crisis 70 years ago.