The outbreak of global financial crisis has left an unprecedented impact on the global financial landscape. Definitely, it is a hard lesson to the U.S., but emerging markets, including China, should learn from the painful experiences witnessed by the Americans and exercise prudent regulatory control in order not to follow the footsteps of the U.S.
I recommend the following book to you. It is one of the best sellers in many bookstores.
"On the brink : inside the race to stop the collapse of the global financial system / Henry M. Paulson, Jr."
Summary:
U.S. Treasury Secretary Hank Paulson's first-person account of the key decisions that had to be made with lightning speed as he stood at the epicenter of the world's most cataclysmic financial crisis since the Great Depression.
Enjoy!!!