But this crisis was caused by the largest asset-price and credit bubble in history-even bigger than that in Japan in the late 1980s or America in the late 1920s.

但这次，形成危机的资产价格和信额泡沫远大于1980晚期的日本或1920年晚期的美国，规模之大史无前例。

youdao

The origins of this crisis lie in the biggest asset bubble in history;

这一危机的根源在于历史上最大的资产泡沫（浪潮？）

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Many economists, myself included, believe that China's asset-buying spree helped inflate the housing bubble, setting the stage for the global financial crisis.

包括本人在内的许多经济学家认为，中国疯狂购买资产对住房泡沫的形成起了推波助澜的作用，从而为全球金融危机搭建了舞台。

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The asset bubble that deflated in the financial crisis resulted, and today unemployment is 10%.

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We could create an asset bubble worse than the previous one which could lead to another financial crisis not this year, not next year but two or three years down the line if we keep on doing these (easing) policies.

FORBES: 'This Market Has Room To Run...Or Not?' (What The 'Experts' Are Saying Now)