And they are likely to protect China from the current market gyrations, economists say.

In recent weeks, though, the market gyrations have prompted calls for swift restructuring from participants, environmentalists and government officials.

For example, would the Government undertake to guarantee against market gyrations a level of benefits to enable workers to plan for retirement?

In addition to its move yesterday, Merrill has been advocating other steps to address the recent market gyrations.

This summer's market gyrations have made the same transition with equal speed.

If they're not, this approach still reduces the costs of investment to a minimum and permits the most flexibility for coping with market gyrations.

Retailers' Christmas sales could be hurt by market gyrations.

So far, consumers have not been spooked by the latest stock market gyrations.

Mr. Schwab said this was really a simple concept, but one that investors need to be reminded of given recent market gyrations.

In addition, uncertainty about Mr. Clinton's problems has caused big market gyrations.