CHAPTER TWO: GLOBALIZATION OF MARKETS AND THE ...

Chinese loaned funds to the U.S., in effect, buying U.S. Treasury bonds (nearly $800 billion in 2009) The savings glut in China, other emerging markets, and oil-producing countries translated into lower interest rates in the U.S. and elsewhere, which further facilitated borrowing. Meanwhile, thousands of mortgages had been . securitized ................
................

In order to avoid copyright disputes, this page is only a partial summary.