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The World Financial Crisis and the Implications for China

In: An Assessment of the Global Impact of the Financial Crisis

Author

Listed:
  • Shujie Yao

    (University of Nottingham
    Xi’an Jiaotong University)

  • Jing Zhang

    (University of Nottingham)

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.

Suggested Citation

  • Shujie Yao & Jing Zhang, 2011. "The World Financial Crisis and the Implications for China," Palgrave Macmillan Books, in: Philip Arestis & Rogério Sobreira & José Luis Oreiro (ed.), An Assessment of the Global Impact of the Financial Crisis, chapter 9, pages 182-208, Palgrave Macmillan.
  • Handle: RePEc:pal:palchp:978-0-230-30691-2_9
    DOI: 10.1057/9780230306912_9
    as

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