But the ripple affect goes far beyond the United States. Over the weekend, a Canadian car parts maker and a Russian bank agreed to take control of GM’s European operations, including Opel in Germany and Vauxhall in Britain.

On Monday, U.S. Treasury Secretary Timothy Geithner was in Beijing, trying to reassure the Chinese that this country is committed to bringing down the deficit as the U.S. recovers from the economic crisis.

Marcus Mabry, international business editor of The New York Times, joins Martin Savidge to discuss General Motors, Geithner’s trip to China, China’s concerns about the U.S. deficit and what comes next for the European auto business.

Unemployment may reverberate overseas as foreign producers lose valuable markets. This is the case with the auto industry — manufacturers abroad will be affected by the upcoming bailout decisions.

Marcus Mabry of The New York Times speaks with Martin Savidge about the latest unemployment numbers in the U.S. and the future of the global economy.

Marcus Mabry, the international business editor of The New York Times, speaks with Martin Savidge about the global economy.

Marcus Mabry, international business editor at The New York Times, speaks with Martin Savidge about this weekend’s economic summit.

Marcus Mabry, international business editor at The New York Times, speaks with Martin Savidge about the challenging economic tasks set forth for President-elect Obama.

But the amount of money needed to stabilize developing economies may far exceed the reach of the IMF.

Kim Ruhl, an economics professor at New York University’s Stern School of Business, speaks with Martin Savidge about the role of the IMF in the tumultuous economic environment.

The IMF is an international organization that promotes economic growth and high levels of employment by providing financial and economic assistance to member nations.

The 185 member nations of the IMF provide economic data and funds, which make up the IMF’s monetary reserves. Members in need of short-term liquidity borrow from the reserves. A member nation’s power in the organization depends on the money it contributes, which is proportional to the size of that nation’s economy.

Economist and blogger Dani Rodrik writes that the IMF needs to lend more liberally and will need more funds from member nations.

At the blog “Follow the Money,” Brad Setser agrees that a much larger IMF is necessary to maintain a healthy and stable global financial system.

Blogger Edward Hugh writes at the blog “A Fistful of Euros” that Ukraine and Hungary will soon receive loans.

Photo courtesy of Flickr user Kyrion under a Creative Commons license.

Marcus Mabry, international business editor at The New York Times, speaks with Martin Savidge about deep-seated fears of a global recession and potential ways to regain confidence. He says that central banks may join in a coordinated effort to relieve the credit crunch in emerging markets over the coming weekend.

Marcus Mabry, the international business editor at The New York Times, speaks with Martin Savidge about the world economy and the financial crisis.

In response, individual nations — most notably Ireland — are taking national action. The Irish government announced that it will guarantee the deposits of six Irish banks. Other EU nations worry that depositors will pull their money to take advantage of the security in Irish banks.

Benn Steil, a senior director of international economics at the Council on Foreign Relations, speaks with Martin Savidge about how the EU is digesting the credit crisis.

The blog “Eurointelligence” recalls the time when Europeans could not fathom how a U.S.-centric financial crisis could affect European banks, which have suffered in tandem with the U.S.

Henning Meyer of “Social Europe Blog” offers perspective from across the pond and discusses the need for a remodeled regulatory framework worldwide.

At “Macro Man” blog, an anonymous author extends blame of the global crisis to irresponsible lending practices in England as Germany, citing that the U.S. is not alone to blame.

The Latin America blog “Foreign Policy Association” describes what the U.S. credit crisis means for Argentina’s economy.

The Financial Times reports that the economic crisis has led Americans to call for greater global ties.

Click on the countries in blue to see how they are affected by the global credit crisis.

To return to the full screen map, simply click the house icon or ocean areas.

Photo courtesy of Flickr user saibotregeel under a Creative Commons license.

Brad Setser, a fellow at the Council on Foreign Relations, speaks with Martin Savidge about the international credit crisis. Setser writes a blog called, “Follow the Money.”

Randall Filer, a professor of economics at Hunter College and the Graduate Center of the City University of New York, speaks with Martin Savidge about how the crisis affects the borrowing power and interest rates in developing countries. Filer also expects the crisis to subside in a few months with a boon to U.S. taxpayers.