1974-75: Global financial crisis. Originated from the collapse of the Bretton Woods system, the extremely loose monetary policy of the United States and the oil crisis, eurodollar market soared. The main sectors of the crash are stocks, real estate investment trusts and commercial real estate.

1979-82: Global financial crisis. Originated from the extremely loose monetary policy of the United States and the rolling inflow of petrodollars into third world countries. The main countries that collapsed included Mexico, Brazil and Argentina, and the disaster spread to many countries in the world.

1985-87: American financial crisis. Originated from the strong dollar policy, speculative funds were induced to flow back to the United States, which triggered the soaring of American real estate and stock market. The main areas of the crash are naturally real estate, stock market and financial system, marked by the stock market crash on October 19, 1987.

199-92: Japan's financial crisis. Originated from the Plaza Accord in 1985, the United States forced the yen to continue to appreciate substantially, which led to a shocking bubble in the Japanese economic system. The main areas of the crash were the stock market and real estate. The stock market fell by more than 7%, and the real estate fell by more than 5%. The disaster quickly spread to banking, finance and the entire economic system, and the Japanese economy fell into a long-term recession.

1992-93: ERM crisis in Europe. Originated from the fluctuation of floating exchange rate and the continued weakness of the US dollar against European currencies and the British pound. International speculative hot money (mainly hedge funds) wantonly attacked the pound and European currencies, which led to the collapse of the exchange rate of the pound and lira and forced the introduction of the European exchange rate mechanism.

1994-95: Mexico's financial crisis spread rapidly around the world. Originated from the blind liberalization of financial markets in Mexico (following the instructions of "Washington"), a large amount of hot money flowed into Mexico and other developing countries, resulting in a speculative asset price bubble.

1997-98: Asian financial crisis and Russian debt crisis. The blind liberalization of financial markets, the relaxation of capital account management and the speculative hot money induced by the weak dollar in Asian countries flowed into Asia and Russia in large quantities. Since 1996, the weak dollar policy ended, speculative hot money quickly flowed out of Asian countries, and the asset price bubble burst.

2-2: The bursting of the global Internet bubble led to a sharp contraction of the credit market. The strong dollar cycle, which originated in 1996, led to a large number of international funds flowing back to the United States to participate in stock market and other asset speculation.

27: American subprime debt crisis and global credit market turmoil. Originated from the weak dollar cycle that began in 22, the continuous interest rate cut by the Federal Reserve induced unscrupulous credit expansion in the real estate market.