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[[File:1280px-GDP Real Growth in 2009.svg.png|thumb|305x305px|World map showing | [[File:1280px-GDP Real Growth in 2009.svg.png|thumb|305x305px|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. | 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. | ||
Revision as of 04:08, 16 June 2022
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.[1] Not unlike the USSR's ability to weather the Great Depression.
References
- ↑ Nake Kamrany (2011-02-18). "China's Rapid Recovery in the Great Recession of 2007 - 2009" Huffington Post.