US sub-prime crisis goes global

In an increasingly integrated global economy, problems in one country can spell big trouble for the whole world.

4th August, 2007

In an increasingly integrated global economy, problems in one country can spell big trouble for the whole world.

Nowhere is this more clearly demonstrated than in the downturn in the US housing market and the resulting crisis in the market for sub-prime mortgages to people with poor credit histories.

The origins of the crisis date back to 2000,w hen the US housing boom was born. Over the period 2000-2003,U S house prices registered average annual...

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