A look at economic developments around the globe

A look at economic developments and activity in major stock markets around the world Thursday:

---

LONDON - Concerns worldwide about the dollar's slide have escalated to the point where currency markets are beginning to wonder when governments might try to do something about it.

For now, any attempt to put a floor under the dollar's exchange rate is expected to remain rhetorical, with actual market interventions by central banks unlikely - especially if China won't change its currency policy.

But with the dollar sagging against the euro, the yen and a host of other currencies, policymakers around the world are voicing worries a weak dollar will dampen their still-shaky economic recoveries.

In European stock markets, the FTSE 100 index of leading British shares closed down 1 percent, while Germany's DAX fell 1.2 percent and the CAC-40 in France declined 1.4 percent.

---

SHANGHAI - Lavish government spending and bank lending helped China's growth rate accelerate to an 8.9 percent pace in the third quarter, far outstripping expansions elsewhere around the globe and raising questions about whether the rapid rebound can be sustained.

China also said industrial production and investment spending are growing at a faster pace. That seemingly good news unsettled local stock investors, however, on fears Beijing may need to rein in its stimulus policies to avoid asset bubbles and inflation.

Stocks in Asia dropped. Japan's Nikkei 225 stock average fell 0.6 percent, Hong Kong's Hang Seng dropped 0.5 percent, the Shanghai index in China lost 0.6 percent, South Korea's benchmark fell 1.4 percent, Australia's index was off 0.5 percent and India's market shed 1.2 percent.

---

LONDON - Retail sales in Britain were flat in September compared with the previous month, with food store sales dipping slightly, as consumers remained cautious amid the economic downturn, official figures showed.

---

TOKYO - Japan's exports fell by the smallest margin in 10 months in September, showing a deep slump in the world's second-largest economy may be easing.

Exports were down 30.7 percent in September from a year earlier, the 12th straight month of declines, but the lowest decrease since November, the Ministry of Finance said Thursday. Exports totaled 5.1 trillion yen ($56 billion).

Imports, meanwhile, fell 36.9 percent to 4.6 trillion ($51 billion), the smallest drop fall in five months.

---

LONDON - Britain's mail service ground to a halt after tens of thousands of postal workers walked off the job in a 48-hour national strike.

Rolling walkouts that began over the summer have contributed to a backlog of some 5 million packages and letters, according to Royal Mail spokesman David Simpson.

Workers began the strikes over better pay and job protection against a plan to modernize equipment that they say will result in job losses.

---

CAPE TOWN, South Africa - An African Union official Thursday said that Chinese investors are more interested in Africa's natural resources than good governance, a week after Guinea said it had closed a $7 billion oil deal with a Chinese company.

Festus Fajana, a trade policy expert for the African Union, told The Associated Press that China's investment could indirectly help impoverished Guineans, "but China seems to be ignoring the issue of good governance."

---

LONDON - Several large British banks will be required to draw up "living wills" by the end of the year to outline procedures to help them wind down if they fail under proposals by the country's financial-services regulator.

The Financial Services Authority said banks regarded as "too big to fail" will also have to hold more capital as an insurance against the dangers posed to the financial system if they collapsed.