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But, the great moderation was really over by the time Bernanke's paper was published. During the late 1990s, the first internet boom was supported by easy credit provided by the Fed and new types of debt instruments created by the newly deregulated banks. Starting in March 2000, the dot.com boom collapsed and the Nasdaq stock index fell 78 percent from its peak. Combined with the aftermath of the terrorist attacks of Sept 11, 2001, this pushed the US economy into recession.
But the vision faces unprecedented scrutiny, with governments on five continents demanding better safeguards, less anticompetitive conduct and more taxes from the world's largest online advertising company. Thousands of employees have protested, and some have even resigned, over ongoing uncertainty over why the "don't be evil" dogma famous to Google - and once embraced by Page and Brin - appears to be cracking.
But with the recovery momentum of the mainland economy and the gradual improvement of consumption in Hong Kong, Chan said Hong Kong's economy can still be greatly revived if the smooth flow of personnel and trade between Hong Kong and the mainland can be restored.
By afternoon, 2,000 or more had arrived at the Jesus Martinez stadium, which has a capacity of about three times that, and eagerly began sifting through donations of clothes, gave themselves sponge baths, lunched on chicken and rice under the shade of tents and picked up thin mattresses to hunker down for the night.
But the company hopes that over the next five years, the situation will reverse, with Chinese citizens consuming up to 90 percent of the total, said Xia Yongtao, deputy general manager of Kaluga Queen, who admitted it might be "an unreachable dream".
来源：资阳报