The World Financial Crisis and the Implications for China

Shujie Yao () and Jing Zhang ()
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Shujie Yao: University of Nottingham
Jing Zhang: University of Nottingham

Chapter 9 in An Assessment of the Global Impact of the Financial Crisis, 2011, pp 182-208 from Palgrave Macmillan

Abstract: Abstract From September 2008, the failure of large financial institutions in the United States and the EU became visible. It then badly affected real economic activities, resulting in deflation, falls in the prices of shares and commodities, a shrinkage in the level of production and services, the failures of large firms in manufacturing and services, sharp rises in unemployment, and the collapse of people’s confidence. The financial crisis spread quickly from the US and Europe into the developing and transitional economies, leading to the most severe global economic recession since the 1930s.

Keywords: Foreign Direct Investment; Monetary Policy; Financial Crisis; House Price; Current Account Deficit (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-30691-2_9

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DOI: 10.1057/9780230306912_9

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