The 2008 financial crisis was complex and had numerous contributing factors consequently many people have misdiagnosed the problem or overemphasized some factors and underemphasized other more important factors the sheer volume of factors some of which cross analytical disciplines such as macroeconomics and geopolitics also obfuscate accurate diagnosis of cause and effect. History shows that money supply funds economic expansion but also booms bubbles and busts it is not so different this time at one time at the beginning of the first world war britain was the wealthiest country in the world but britain went into heavy debt to fight two world wars and sterling once the worlds currency was replaced by the us dollar today the united states has racked . Total foreign financial assets owned by china reached us7860 trillion and its foreign financial liabilities us5716 trillion making china the second largest creditor nation after japan in the world china is the largest recipient of foreign direct investment in the world as of 2020 receiving inflows of 163 billion. Academiaedu is a platform for academics to share research papers
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