Anchor Martin Savidge describes the indelible images and fundamental questions behind Worldfocus’s reporting on the global financial crisis.
“What in the world is going on?!”
It’s a phrase we use a lot these days, especially when we cringe over the latest news from Wall Street. This huge financial crisis has, in many ways, reminded us all of how interconnected we are — especially financially — from our economies to our portfolios.
Perhaps the most poignant reminder of this was a report from our partner Deutsche Welle about a little old lady who would check her portfolio on her laptop — woefully and daily. She lives in China and “invested” half of her entire life savings in a company called Lehman Brothers.
From where I sit each evening, I get to track world events as they unfold. Lately, it’s all about the economy. The financial crisis has been our lead story just about every night.
Every morning our staff comes together to see how our partners around the world show and explain the problem to their audiences. So far, we have included reports from Asian News International, Indian TV, Al Arabiya, Dubai TV, ABC Australia and ITN of Britain — just to name some of them.
We have also called in some of the best international financial experts as guests to deconstruct the financial storm. (I will say with just about every financial principle shattered these past few weeks, I’m not sure if even the experts really know — but that’s another blog post.)
A common theme I see among news organizations, no matter where they are, is the struggle to explain: “How did we get to where we are?” and “What can we expect next?”
In our newsroom, we try to understand these fundamental questions. We are watching the financial crisis radiate in markets around the world, and we’re looking for the connections.
For instance, we followed the significant decline of the petro-dollar-rich Middle East markets. In listening to and watching the footage, we found that the only differences from Bloomberg to CNBC and Dubai TV were the languages spoken (Arabic) and the business attire worn (headdresses and dishdashes — long, one-piece tunics worn by Arab men).
Just like that little old lady hovered over her computer in a corner of China, we’re all affected and we’re just trying to make sense of it all.
No region, no country, no market is immune — at least, not any more.
– Martin Savidge