IMF Survey: Close Ties Led to Crisis in World's Five Major Economies

Summary: The world’s five major economies—the United States, the euro area, China, Japan, and the United Kingdom (which has a highly internationalized banking sector)—together account for more than half of global output, 70 percent of net global financial flows, and almost two thirds of global saving.How did the global economic crisis, which originated in the United States and then spread quickly to the rest of the world, impact these five very different economies?

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