China and the Global Economic Crisis

AS the global economic meltdown triggered by the U.S. subprime lending mess enters its fourth year, signs of a full recovery are still nowhere to be seen. The Eurozone debt crisis rages on, further troubling the fragile world economy. Like the Great Depression of the 1930s, the current crisis is likely going through a cycle of contraction, stagnation and recovery. Unlike the Great Depression, however, which was primarily a secondary sector crisis, today’s economic