What was responsible for all the other down turns that didn't occur during a US recession?
A lot of stuff happened during the 1990s. Berlin Wall came down with the collapse of the iron curtain and the USSR. German reunification, massive restructuring of Eastern Europe. First Gulf War. George Sorros broke the Bank of England. Asian financial crisis. War in the former Yugoslav states. Russian ruble crisis.
China's trying to keep itself propped up.
http://www.marketwatch.com/story/chi...?siteid=yhoof2Other data showed the People’s Bank of China injected 365 billion yuan ($57.9 billion) into the financial system via open-market operations, marking its highest-ever level for a single week.
China’s Shanghai Composite /quotes/zigman/1859015 CN:000001 +2.60% shot up 2.9% on Thursday, rebounding after closing at a multi-year low on Wednesday.