The foreign ministry also stressed that China's arms exports abide by legal norms and pose no threat to global peace and stability in response to a report by the Stockholm International Peace Research Institute on China replacing Britain as the world's fifth-largest arms exporter, says Beijing Times.

BBC: China media: Japan radar lock

The strategic rationale for swift-moving expeditionary forces, be they Army or Marines, airborne infantry or special operations, is self-evident given the likelihood of counterterrorism, rapid reaction, disaster response, or stability or security force assistance missions.

CENTERFORSECURITYPOLICY: Center for Security Policy | The Measure of a Superpower: A Two Major Regional Contingency Military for the 21st Century | Page: 2

In short, the focus of Los Cabos will be supporting growth and ensuring our European partners are escalating their response to reinforce financial stability, recognizing the stakes are high for all of us.

WHITEHOUSE: Press Briefing

"The exchange rate is not a policy target, but it is important for growth and price stability, " Mr Draghi said in response to a question.

BBC: Euro rises as finance ministers meet

The response of the Basel Committee, the Financial Stability Board, the European Commission and the G20 has been to devise ever more complicated and more detailed rules to limit the risks to banks and the wider economy of the byzantine complexity of the way banks manage themselves and the astonishing counter-intuitive complexity of products created by financial innovation.

BBC: Does JP Morgan loss show regulators' great failure?

It also emerged that Sir John Gieve, the deputy governor in charge of financial stability, who came in for criticism for the central bank's poor response to the crisis at Northern Rock, will leave his job early, in 2009.

ECONOMIST: British banks

The announcement comes amid growing consensus in Washington that the federal response to the credit crisis has fallen short of a solution that would restore confidence and stability in the financial markets.

FORBES: Magazine Article