will europe and east asia be devasted if...
...say, the big-3 and the wall-street bail-out did not or will not happen?
i mean as far as i know, the economic history of the world has been pretty MACROscopically defined as such
anything before the printing press: craftwork, barter, buy/sell stuff, work, simple stuff. europe was not powerful
colonialism: a bunch of european powers gain money through new world colonies (a crap load of gold here, as well as fur and sugar), then there was a struggle for africa (not nearly as much resources), blah. but then europe became powerful
industrial revolution: mechanization sees european powers not only import but now have things to export too. then ford made factories and mass production. america gains independance. but europe is still powerful.
world war 2: right after a recession too. the upper limits of the industrial revolution is reached, so all those kids born when the economy was cheery are now facing a lower supply but high demand. but hitler "saves" everyone, back to a second industrial revolution! everyone flocked to the factories. people have to spend. europe is in shambles now though. american, not having any infrastructural damage, is now the power.
the future: globilization... dot dot... dot...?
so what i'm saying is that whichever "economic power" that was formed pretty much had 1 single incident that established them as the premier player. once at the top, you are pretty much garunteed a period of time whereby re-investing and safe tactics like that ensures you stay there. and then you fall from grace either
a) slowly as other nations become more industrious than you
b) an event like a war or plague or something of that sort
so again, original question, had the struggling firms in wall st died and say if the big 3 run out of money, how would the east asian (SK, JP, PRC) and european nations be affected? could it be as bad as the 30s (following ww1, then the use of large scale factories by ford et al., and the booming twenties in the states ALL LEADING TO SATURATION)? or perhaps the 70s? (following ww2, then the booming 50s in the states due to the remechanization of the usa industry). how bad could it possibly get?
it was actually me who killed vasilli zaitsev, heinz thorwald, carlos hatchcock, and simo hayha