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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.
Due to socialism and central planning, China's economy was able to weather the financial storm and continue to grow in this time.[1] Similarly, the USSR was able to weather the Great Depression.
References[edit | edit source]
- ↑ Nake Kamrany (2011-02-18). "China's Rapid Recovery in the Great Recession of 2007 - 2009" Huffington Post.