Tuesday Map: Mapping the subprime fallout

How is the subprime mortgage crisis playing out across the globe? Short answer: Not so great, and today was another lousy day on Wall Street. The Financial Times has a handy interactive tool that is getting updated as new problems at financial institutions crop up. Here's the snapshot from today:

One thing the map is missing, however, is the latest news from China. Many people have been wondering about how China is weathering the subprime crisis, both in terms of Chinese banks' exposure to bad U.S. financial instruments and in terms of China's own mortgage market. As the Telegraph's Richard Spencer put the matter, "in many people's reckoning, all of China is subprime, by American standards." Luckily, we have Brad Setser, who sorts through many of the complicated issues here.