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The global economic crisis originated in the United States in the year 2007 as sub-prime mortgage crisis. As a result, the country plunged into recession in the year 2008. Then it quickly spread to United Kingdom, Japan, other developed countries and then to the developing countries. The major factor is the large imbalance in the current account of some of the largest economies in the world. Many Asian countries and Oil producing countries invested the surplus money in the financial markets offatcat:wwknymajizhq5kp6m3msbbngu4