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I have read many articles and have heard many speeches about the global economic crisis... Written and expressed are statements of any kind. I'll try to be brief and therefore will not fall into much detail.

Absolutely every global economic crisis is a result of the integration of new members with lower financial opportunities into a certain economical community. How will the integration process proceed and what would be the dimensions of the subsequent crisis, it all depends on the size of both sides of the process, and the pace of integration.

I will focus on larger connections after World War II. The first economic integration is Japan to the western world. In the beginning there is cheap labor and therefore cheaper production. Goods, made in Japan are at times cheaper than the same produced in the USA, for example. The amount of integrated (residents of Japan) was at times less than the amount of enlargement. The ensuing economic crisis was small and hardly anyone has a specific recollection of it.

After a years with high rates of economic growth, Japan is fully connected - wages are among the highest in the world, manufactured goods are no longer cheap and are with high quality. Now Japan's second economic power in the world!

The integration of South Korea takes place in the same way. It's economy is 13-th in the world. Residents of South Korea are two and half times less than those of Japan.

After these two began a third identical accession...
The difference is only in size, as in this case integrating contries are more than already integrated countries, and that sooner or later will necessarily lead to a crisis, as it is. Integrating country, as you have already guessed, is China.
Integration will be completed when the residents of China reach the standard of life of the residents of the United States.
Although everywhere claiming that the crisis is contained, it will continue in more or less until the full integration of China and this process is irreversible.

The crisis will continue, it will affect in varying degrees different countries. The better is developed internal market of any country, the less will be affected by crisis.
Best in this regard are Japan and Germany, and therefore they first mastered the crisis.
To this we must add one more factor - foreign income of any country, which apart from export, form also and from profits of companies that have subsidiaries in foreign countries. Second part is especially important element in maintaining high standards in some countries. To maintain high wages, money must come from somewhere.

The scheme is as follows - a company has a factory in Germany, where a worker takes 5000 euros and second factory - in China, where one worker takes ? 100 for carrying out the same work. I guess there is no illusion that the pay gap comes from the performance or quality of work. Just this is the way to maintain high wages and the standard in developed countries - by robbing labor of workers in developing countries. And that's not all...

Developed countries have built a serious system for extraction of money from poor countries. One way is through the banks to maintain high interest rates and high bank fees in poor countries.

But to return to the basic principle of accession. A country like France for example has a well developed internal market, so does not care particularly of imports from foreign countries as domestic exchange function and no shortages of goods.
BUT... Some of the companies of the same country, however, have subsidiaries in foreign countries where they produce cheap goods for cheap labor and deliberately reduced quality of the goods.
These products are not intended for France as it is self-sufficient from its own production. But these goods must be sold and they need a market because the profit from them is essential for maintaining a high standard of living in France in the case.

To have such a market, developed countries deliberately keep delaying the development of an internal market in poor countries.
When you can not have produced the goods due to lack of capacity to produce them, or higher cost of imported goods, then have the necessity of imports. From the producer country becomes a buyer and began to progressively impoverished.


To be continued...