is it a butterfly effect ?

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i heard someone speaking humorously ,when american economy comes down with a cold ,the other part of the world is to be shivering . as we all know,due to the credit bank collapsed a while ago in USA,afterwards the so -called global financial crisis has been appearing all over the world . during the wide economy recession, some pasteboard medium and small-size enterprises are confronted with impending bankruptcy.likewise the turndown of economy is being vividly demonstrated by gloomy stock markets. there,do you think american credit crisis as the swinging butterfly which has caused butterfly effect overwhelming over the whole world ?