Utopia Translation Series 047 Collapse: How the Global Financial Crisis Reshaped the World

"Crash" is an epic about the first worldwide financial tsunami in the era of globalization, and it is also a thrilling contemporary history. As an outstanding historian with in-depth research on the history of the 20th century, Adam Tooze adopts a global perspective to describe in detail the 2008 financial crisis and the Eurozone crisis and the complicated world history thereafter. He not only explains the technical reasons for the outbreak of the crisis from a financial perspective, but also spends a lot of space explaining how the crisis has shaped the political landscape of the world in this decade, presenting a wealth of original themes: disordered economic development and instability of debt flows; the imbalanced relationship formed by individual countries and regions being invisibly linked through financial interdependence, investment, politics, and force; the interaction between the financial crisis and the booming development of social media; the crisis of the American middle class; the rise of China; and the battle over petrochemical energy resources such as oil and natural gas. Although some people initially tried to downplay the financial crisis as a local event, Adam Tooze believes that the financial crisis that began on Wall Street in 2008 was actually a turning point of global significance. From the financial markets in the United Kingdom and Europe to the factories and shipyards in Asia, the Middle East, and Latin America, global governance had to be readjusted and arranged. In the United States and Europe, capitalist democracy is facing challenges, triggering the civil war in Ukraine, chaos in Greece, Brexit, the rise of Trump and the rise of populism in various countries. The Western world has encountered the biggest crisis since the end of the Cold War.