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The Global Financial Crisis (GFC), also called the credit crunch, refers to the period of extreme financial distress in the global financial markets, global economies

"The Global Financial Crisis (GFC), also called the credit crunch, refers to the period of extreme financial distress in the global financial markets, global economies and banking systems." Required: Point out the characteristics of the financial system in both good and bad times, and discuss the main factors and causes of GFC of 2008

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