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The subprime mortgage crisis is also known as the subprime mortgage crisis, also translated as the subprime crisis. It refers to a storm that occurred in the United States due to the bankruptcy of subprime mortgage lenders, the forced closure of investments, and the drastic. It has led to a looming illiquidity crisis in the world's major financial markets.

The "subprime mortgage crisis" in the United States began to emerge gradually in the spring of 2006. In August 2007, it swept the world's major financial markets such as the United States, the European Union and Japan.

One of the root causes of this crisis lies in the neoliberal economic policies that the United States has accelerated for nearly three decades. The subprime crisis in the United States began when the Federal Reserve tightened monetary policy, and the rise in interest rates increased the cost of investment and reduced expected returns. As a result, the demand for real estate investment has decreased, and under the effect of rigid supply, real estate has begun to decline, which in turn has led to the increase in the overdue rate of subprime mortgages, and the risk of subprime real estate mortgages has emerged.

This was followed by subordinated loans and derivative valuations, which led to a decline in the value of risky assets, which ultimately led to tighter liquidity and significant volatility in financial asset markets.

Extended Fact: During the subprime mortgage crisis, U.S. mortgage lenders lent money to poor people with poor credit, no ability to repay, or very poor ability to repay to buy a home, and in the process did not require any collateral (but with relatively high interest rates). In this particularly easy situation to get a loan, many poor people buy houses not for residence, but as investment.

That is, after waiting for the house price**, the assets will increase, and the increased part will be used to repay the loan. Since the outbreak of the subprime mortgage crisis in August 2007, it has had a great impact on and damaged the international financial order, resulting in a strong credit tightening effect in the financial market and exposing the systemic financial risks accumulated in the international financial system for a long time.

The financial crisis caused by the subprime mortgage crisis was the most serious financial crisis in the United States since the "Great Depression" in the 30s of the 20th century. The subprime mortgage crisis, which originated in the United States, is spreading around the world, and the global financial system has been significantly affected, and the crisis has hit the real economy. China has also been affected by the subprime mortgage crisis.

Some commentators believe that the economic crisis in the United States in the 70s has not been resolved at all, the debt has increased year by year, and there has been no surplus since 1975. Whether it is the Keynesian Roosevelt New Deal or the neoliberalism that replaced it in the seventies, the United States will not be able to escape its economic crisis fundamentally without addressing the gap between social distribution and aggregate demand and aggregate supply.

The impact of the subprime mortgage crisis on the Chinese economy cannot be ignored due to the slowdown in the US economy and global economic growth, and the impact on exports is the most important. In 2007, due to weak import demand from the United States and Europe, China's monthly export growth rate has declined from February 2007 to December.

On the one hand, China's economic growth will slow down to a certain extent, and at the same time, due to the slowdown in China's economic growth, the society's demand for labor force will be less than the supply of labor, which will increase the employment pressure of the whole society.