What history tells us is that we should never think that we are an exception. The general economic cycle is 8-15 years. The last crisis was in 2008. The previous one was the Southeast Asian economic crisis in 1997, and the decline of Japan after the Plaza Accord.
I won’t talk about the more distant crises in detail, because they involve many political factors such as World War I and World War II. At that time, there was no market economy in China, so the reference is not very meaningful (the difference between financial crisis and economic crisis lies in the breadth and depth of the crisis impact, the scope and degree of the impact on the real economy, etc., see the pouring of milk in 1929, and the global collapse of financial assets in 2008, which affected the real economy)
Before analyzing the world economic pattern this time, we can first look at the root cause of the outbreak of historical crises: the rapid concentration and accumulation of capital and then the essence of disintegration.
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