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Global financial crisis | Ongoing

With the collapse of a number of financial institutions in the United States, the financial crisis quickly spread around the world.
Special Report: Global Financial Crisis
 

A shop assistant cleans a window at a clothing store which is offering sale discounts in Buenos Aires, Dec. 15, 2008. The world's economies limped toward Christmas on Tuesday, with a U.S. contraction confirmed, Britain shrinking more sharply than thought and Spain and New Zealand languishing in recession. [Xinhua] 
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