Give details on how the below mentioned macroeconomic issues and imbalances in the global economy, originating in the U.S. economy, can be associated to the 2008 crisis: Answers The questions from article " The genesis of the 2008 global financial crisis and challenges to the neoclassical paradigm of finance"

1) High import demand by the U.S.

2) China becoming the largest holder of the foreign exchange reserves in the US dollars

3) Growing internal budget deficit of the U.S.

4) Financing of the U.S. budget deficit through sale of its treasury bills

5) Low interest rates offered by the U.S. government

6) Excessive supply of cheap money in the U.S. economy and its mortgage market

7) Issuance of collateralized debt obligations (CDOs) and credit risk swaps (CRS) by the lending /credit institutions

8) Pricing of commodities