we discuss the problem now?
is Shanghai Wenhui Daily published?
We are often told by our parents not to spend more than we have. It seems that the people who run several big US companies never learned that lesson.
Over the past years, a number of the US banks have gone out of business. Millions of people have lost their money. Thousands of workers have lost their jobs. The financial crisis (金融危机) that began in 2007 has taken a turn for the worse.
Experts say that the crisis was caused by banks lending too much money. With rising oil prices and falling house prices, many people and companies who borrowed money have found themselves unable to pay it back. This has left the banks out of pockets.
However, the financial storm in the US is now affecting the rest of the world. If so, China will be one of the first countries to be hurt. No country has lent more than China to the US now. Moreover, the US is one of the largest buyers of Chinese goods. China will suffer a great loss (遭受巨大损失) if Americans have less money in pockets to spend on Chinese goods.
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