End of the Old World: 2010 Chronicles. The Crash of Europe & The Rise of Asia
#economics #financialcrisis #geopolitics #china #eurozone #inflation #history #debtcrisis
In this video, we break down 2010—a turning point in global economic history that set the rules for the decade to come. Why, after the storm of 2008, did the world head down two completely different paths?
We analyze "The Great Divergence": while the developed West bailed out banks and drowned in sovereign debt, emerging markets (Brazil, China, India) experienced explosive growth.
00:00 — 2010: The Year of the Great Divergence
00:17 — The Legacy of 2008: Recession and Giant Debts
00:42 — How the State Took on Private Sector Debt
01:38 — "A Tale of Two Recoveries": The Rise of Emerging Markets
02:10 — The Western Diet: Austerity and Budget Cuts
02:57 — The Eurozone Debt Crisis: A Threat to the Euro's Existence
03:38 — Germany vs. Greece: The Spread in Borrowing Costs
04:22 — The Price of Bailouts: A Blow to Sovereignty and Ordinary People
04:36 — China Overtakes Japan: The Birth of a Multipolar World
05:10 — The New Normal of the Global Economy