A $200-billion hole has been dug in the global economy by the collapse of the commodity-based global economy, as the collapse in global stock prices has caused global financial markets to plunge, and with it a new round of major defaults and asset collapses in China and other emerging markets.
The crisis is now in its sixth year, and is now the worst in recorded history.
What will happen next?
The biggest economic consequences are likely to be to be felt in China, where the country is set to take over the reins of global economic policy, and the world’s second-biggest economy.
With the central bank set to start a fresh round of bond-buying to prop up the economy, the consequences of the new round could be dramatic.
China’s stock market has collapsed from $500 to $10,000 in the past week, and on Monday, China’s central bank cut its benchmark interest rate by 25 basis points.
This is a big change in China’s monetary policy, which had been widely seen as a means of stabilising the economy after a period of growth.
It will be important for the country to understand that the new policy will have no impact on its growth, and its outlook for the future is far from rosy.
In China, the government has announced a series of measures to support the economy.
Among them are plans to expand infrastructure spending, reduce government subsidies for big companies, boost domestic demand and reduce subsidies for credit cards and mortgages.
But these measures have only so far been effective.
China has been a net importer of goods, and imports have increased sharply.
It has been the world centre of the global financial bubble, but now China is on the brink of collapse.
This will be a major blow to the economy in the US and Europe, and it will also have a devastating effect on China’s growing trade deficit with the rest of the world.
What about the rest?
The most important part of the impact of the crisis will be felt on the rest as well.
China is the biggest trading partner for the rest.
It is a major producer of energy, including coal and natural gas, and has the world most extensive coal deposits.
But this has been declining over the past decade, with the Chinese economy shrinking from around 7% of global GDP in 2006 to just 0.5% in 2017.
China imports around $50-60 billion worth of goods every year, with most of that coming from the US.
But its imports are now declining as well, from $130 billion in 2017 to $70 billion in 2019.
This has been accompanied by a slowdown in growth in China itself, and a sharp decline in real wages, particularly in the countryside.
The country’s economy is also a major driver of global growth, with an estimated $100 trillion in annual output.
It accounts for roughly 60% of the $100-billion annual GDP of the entire world economy.
China will be hit by the new global economic slowdown, and will be the target of much of the fallout.
There are two major consequences of this for China.
The first is that the rest will also suffer, as they have a massive appetite for Chinese goods and services.
This could cause a sharp contraction in Chinese exports to the rest, which could have a knock-on effect on the export markets of other countries.
China would also be hit badly by the consequences.
China exported $100.5 trillion worth of exports last year, about 10% of world trade.
If it lost this export base, it would have to import much more from other countries in order to keep up with demand.
This would lead to a major trade war.
The second consequence of the collapse is that it could send shock waves throughout the rest: the world economy could be thrown into a deep recession, which would lead directly to the loss of confidence in the future.
In the US, the stock market and the jobs market are already on the decline, and there is a growing feeling of uncertainty and uncertainty among the business community.
The US economy is now expected to contract by 5.2% in 2018, according to the Congressional Budget Office.
This follows a 4.6% contraction in the first quarter of this year.
There has been speculation in recent months that the US Federal Reserve may be preparing to start cutting interest rates again.
The Federal Reserve is expected to cut rates to 1.25% at its next meeting on November 19.
This means that, in a market that is already seeing a major contraction in corporate earnings, this would mean that a significant proportion of the profits coming out of the US would be going to the Federal Reserve.
This may mean that investors would withdraw from the markets in a panic.
This also raises the prospect that a major global financial disaster may hit.
This might be particularly true if the US was to go into recession in 2018 and 2019.
If China is forced to start buying up assets to protect itself from a major recession, it