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Dollar Circumfluence,Global Economic Imbalances and the Financial Crisis

Zhu Taihui  
What is the cause of the financial crisis? The relevant researches have never stopped since the outbreak of the U.S. sub-prime mortgage crisis, but the most did not go deep into the economic root of the crisis. Based on the occurrence and evolution process of the sub-prime mortgage, the paper makes a brief review on the trigger causes of the global financial crisis, and finally figures out its root causes-the structural imbalance of the global economy under the "dollar circumfluence" . Furthermore, starting with the systematic analysis on the typical characteristics of the global economic imbalance, the paper screens out that the global economic imbalances, driven by the "dollar circumfluence" , result in this global financial crisis: dollar-based system-"dollar circumfluence"-the global economic imbalances-the global excess liquidity-the outbreak and overspreading of this financial crisis.
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