An economic system is a mechanism (social institution) which deals with the production, distribution and consumption of goods and services in a particular society.

The economic system is composed of people, institutions and their relationships. It addresses the problems of economics, like the allocation and scarcity of resources.

The division of economic systems

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More on [ Economic system ]

BBC News | Asia-Pacific | World Edition

Bangkok protest leaders surrender
Fri, 10 Oct 2008 10:13:54 -0000
The leaders of the long-running anti-government protests in Thailand surrender to police, after agreeing a bail deal.
Ahtisaari wins Nobel Peace Prize
Fri, 10 Oct 2008 10:42:42 -0000
Martti Ahtisaari wins this year's Nobel Peace Prize for his mediation efforts, including in Indonesia's Aceh province.
'No decision' on US-N Korea deal
Fri, 10 Oct 2008 18:32:50 -0000
The US says there is "no decision" on removing North Korea from its terror blacklist - a part of a nuclear disarmament deal.
France pulls tainted Chinese food
Fri, 10 Oct 2008 17:06:18 -0000
France recalls sweets and biscuits made with Chinese dairy after finding high levels of an industrial chemical.
'Arms dealer' fights extradition
Fri, 10 Oct 2008 10:28:48 -0000
Alleged Russian arms dealer Viktor Bout appears in a Thai court to fight extradition to the US on terrorism charges.
Thai bus crash kills at least 22
Fri, 10 Oct 2008 06:15:17 -0000
A bus carrying university students in eastern Thailand crashes, killing at least 22 people.

NYT > Asia Pacific

Joint Chiefs Chairman Is Gloomy on Afghanistan
Fri, 10 Oct 2008 05:01:45 -0000
Adm. Mike Mullen said Afghanistan was likely to continue what a nearly completed intelligence assessment called “a downward spiral.”
Nuclear Inspectors Barred From Site in N. Korea
Fri, 10 Oct 2008 05:09:37 -0000
North Korea increased pressure on the U.S. to conclude a deal on dismantling the country’s plutonium program and announced plans to restart a nuclear complex.
China Bans One Brand of Herbal Drug After 3 Deaths
Fri, 10 Oct 2008 05:09:53 -0000
China’s Food and Drug Administration said it had discovered two harmful batches of the medicine and urged people to report any problems with it.

L.A. Times - Asia

Pakistan suicide bomber strikes anti-Taliban tribal elders
Fri, 10 Oct 2008 11:02:00 -0700
At least 30 are killed at the tribal council in the country's northwest. Hundreds of people had gathered for the meeting, where elders were planning an attack on a militant base. In a blow to hopes that tribal leaders will prove a potent new ally in the fight against Islamic insurgents, a suicide bomber struck an anti-Taliban gathering of tribal elders today, killing at least 30 people and injuring about 100 others.
Children of Vietnam War servicemen seek U.S. citizenship
Fri, 10 Oct 2008 00:00:00 -0700
In one homeland they were treated as outcasts, in the other as refugees. Now thousands of these Amerasians are uniting and lobbying Congress for what they feel is a birthright: 'We are Americans.' Randy Tran walked quickly past the majestic domes and marble statues of Capitol Hill, looking for the Cannon House Office building and the people he believed could help him.
Asian markets plunge after huge Wall Street losses
Fri, 10 Oct 2008 00:55:00 -0700
Japan's Nikkei stock average falls 9.6% to 8,276, the worst one-day loss since the crash in 1987. SHANGHAI — Panic swept Asian markets today on the heels of Wall Street's selloff, as Japan's stock index plunged nearly 10% and shares throughout the region tumbled.

UN News Centre - Asia Pacific

Relief efforts continue in quake-hit Kyrgyzstan, UN reports
Wed, 08 Oct 2008 00:00:00 -0500
United Nations humanitarian agencies are continuing their relief efforts in the mountains of southern Kyrgyzstan, where an earthquake on Sunday night killed more than 70 people and displaced hundreds of families, as they work to bring aid before the expected arrival of the first snowfalls of the season.
Myanmar: UN expert outlines steps for improving human rights
Wed, 08 Oct 2008 00:00:00 -0500
Improving the situation of human rights in Myanmar is still a challenging task, according to the independent United Nations expert on the issue, who has outlined a series of measures for the South-East Asian as it proceeds with its "road map to democracy" announced earlier this year.
More than 250,000 Afghans returned home this year, reports UN agency
Tue, 07 Oct 2008 00:00:00 -0500
Over a quarter of a million Afghans have returned home so far this year, according to the United Nations refugee agency, which noted that many of them left neighbouring Pakistan and Iran due to security and economic worries.

Asia - Pacific - International Herald Tribune

Scarred by past woes, Japan sees U.S. bailout as a first step
By MARTIN FACKLER Fri, 10 Oct 2008 14:48:23 -0000
Japan's bitter memories of its banking meltdown in the 1990s made it sympathetic to Washington's bailout efforts and reluctant to lecture America.
NATO allies reach deal on attacking Taliban drug trade
By JUDY DEMPSEY Fri, 10 Oct 2008 14:48:23 -0000
The NATO operations commander, General John Craddock, has asked for the alliance force in Afghanistan to be allowed to attack laboratories, trafficking networks and drug lords to stem a trade that helps finance the Taliban insurgency.
U.S. military leader sees Afghan situation worsening
By Eric Schmitt, Mark Mazzetti and Judy Dempsey Fri, 10 Oct 2008 03:15:07 -0000
The chairman of the U.S. Joint Chiefs of Staff said Afghanistan is very likely to continue what a new intelligence assessment called "a downward spiral.
Brother of Afghan president to give up seat in Parliament
By Timoor Shah Fri, 10 Oct 2008 04:07:19 -0000
The brother, Abdul Qayum Karzai, who has one of the worst attendance records in Afghanistan's Parliament, cited kidney problems as the cause.
Suicide attack on Pakistani tribal council kills 20
Fri, 10 Oct 2008 14:48:23 -0000
A suicide bomber killed at least 20 people in an attack on a tribal council meeting in Pakistan's northwest Orakzai region on Friday, an official and a tribal elder said.
Suicide bombing of Pakistan police wounds 8
By Salman Masood Thu, 09 Oct 2008 20:50:49 -0000
There was no immediate claim of responsibility for the attack on headquarters in Islamabad, and it was unclear whether the bomber had died in the explosion.

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