Unless you have been living under a rock or in a cave somewhere, you are very much aware of the sovereign (Country) debt crises. Some Countries are so far in debt that they can barely operate anymore.
One country is in the reverse position, which is China, where they are filthy rich. How did this happen.
China is a 'one party system' controlled by the top leadership. They own and operate almost everything in China. The people in China don't own much at all, especially the companies that hire millions of Chinese workers who get paid very little money.
Because of this, the average Chinese worker can't buy very much that is produced in China because of very low wages. Therefore, the China dictators must sell the stuff they produce to other countries. Because of China's low cost of production, these dictators can under-sell to other countries and have put thousands of companies all over the world out of business, especially in America.
This is no joke.
People and countries all over the world have been on a borrowing and buying binge for several years. China has done this to the rest of the world by their cheap production cost and by keeping their currency cheaper than other countries.
Because of the way they have operated they have gotten themselves in a 'trap'.
It works this way.
Because they have taken advantage of all these countries and helped run them into debt, the Chinese dictators are about to run out of customers because the economies of these countries are failing fast and can't buy from these dictators anymore.
Since China runs an 'export driven' economy, their economy will fail if they lose all those customers. Now guess what they are doing? If they don't save their customers they will fail TOO!