Great Recession

World map showing real GDP growth rates for 2009; countries in brown were in a recession.

The Great Recession was an economic crash between 2007 and 2008 due to the overleveraging of the world economy which was at the time centered around the US financial sector on Wall Street.

Thanks to socialism and central planning, China's economy was able to weather the financial storm and continue to grow in this time. Not unlike the USSR's ability to weather the Great Depression.