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First of all, let me confess that I am no economist, however I do have half a brain and it only takes half a brain to see the obvious as to what caused the recession (someone please tell me why the "experts" don't see it).

Developed countries sent all their manufacturing over to China and with it all their jobs because China is a great source of cheap slave labour.
Because of low interest rates (cheap credit provided back to us by the Chinese) we all went out and splurged (even if we couldn't afford it). While we were spending, unemployment was growing (no jobs left) and then one day the straw that broke the camel's back (sub-prime thingy) went "SNAP". It just so happened that the house of financial cards began to fall leaving a lot of crooks with their pants down and their volatile companies in tatters.

The scary part about all this is that this is not really a "RECESSION", in that it is not part of some cyclical process which will inevitably come to pass. This is for KEEPS!!! Why? Because, you think about...what will it take put everything back the way it was? China gives us all our jobs back? Unlikely!
Maybe we'll have a war or an epidemic (less people, more resources to share around). Maybe the big boys who really run the show will make up new figures (print more money) and just keep a lid on it for the next 25 years, in which China will raise it's living standards and wages and we can finally compete with them again.

I'd really love for someone to prove me wrong, because this isn't a very nice scenario, but like I said...it only takes half a brain to see the obvious.

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Q: Did the US cause the recession in china?
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