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The steps taken to prevent an economic collapse have challenged longstanding assumptions about the operation of modern free-market capitalism championed by Adam Smith, and the role of the government in the economy.

Not since the fallout from the 1989 Tiananmen Square massacre has China's economy grown at such a slow pace: at just below 7 percent last year.

The minutes of the Federal Reserve's June meeting will be released a 2 p.m. That's the meeting chairman Bernanke said the Fed could begin to think about reducing the amount of money it pumps into the economy.

The U.S. economy took more hits this week as automakers reported huge losses. Then on Friday, the Labor Department released a worse-than-expected unemployment rate. President-elect Barack Obama responded by calling for a new stimulus package.

The key driver of the economy saw the biggest increase in over two years in March, as car buyers tried to get ahead of President Trump's tariffs on imported autos and auto parts.

A new energy bill sets up a Senate debate on a measure to increase fuel economy standards. It would require that cars, trucks and SUVs achieve an average of 35 miles per gallon by 2020. That's 10 miles per gallon over current levels.

The president says his tariffs will spur America into a "golden age," but that remains far from certain. Here are five things about how his trade policies could impact the U.S. and global economies.

For decades, the Turkish-occupied north lagged far behind the independent nation to the south, with its strong ties to Greece. Now, it's the Turks in northern Cyprus who have the roaring economy, as Greek Cypriots await the terms of an EU bailout.

Top administration officials will meet with House and Senate Republicans Tuesday to discuss economic relief for workers and small businesses. Democrats, however, signaled they are not on board.

Many consumers will watch to see where the market swings this week. Few take a direct financial hit when the markets fall, but that can still affect attitudes about the economy — and the president.