When the global financial crisis broke out in 2008, Western countries were in chaos. The Group of Seven (G7) and the IMF were helpless. As a representative of developing countries, China, together with Brazil, India and other countries, participated in the G20 Carrying forward the "global village" spirit of "working in the same boat", China has successively pledged nearly 100 billion US dollars to expand the scale of the IMF's rescue funds, and was the first in China to launch a 4 trillion yuan fiscal stimulus package.

However, after the most dangerous moment of the financial and economic crisis passed, Western countries have shifted from "economy in the same boat" to "economy in the same boat". They have healed their scars and forgotten the pain, and are unwilling to give up on the future. The "vested interests" in global governance are simply unwilling to accept the reality that global governance is gradually shifting from "Western governance" to "Eastern and Western governance." Extended information

Financial crisis is a general term for currency crisis, credit crisis, banking crisis, debt crisis, stock market crisis, etc. It generally refers to the abnormally violent turmoil and chaos in a country's financial field, which has a negative impact on the economic operation. An economic phenomenon with devastating effects.

It is mainly manifested by the sharp deterioration of all or most financial indicators in the financial field, such as credit destruction, bank runs, a large number of bankruptcies of financial institutions, stock market crashes, capital flight, and severe shortage of money. , official reserves decreased.

Reference: Baidu Encyclopedia-International Financial Crisis