The global financial crisis and the Korea-China trade relations

The global financial crisis that started with the collapse of the Lehman Brothers Holdings Inc. in the United States in 2008 has been regarded as the worst economic disaster for the world economy since the Great Depression in the thirties. Many countries had been hit badly by the crisis, and saw drop in economic activities and national income but a rise in unemployment. The governments had been trying very hard to find policies to lessen the adverse impact of the financial crisis on their economies and to improve the economic situation of their countries. The financial crisis was initially thought of a crisis that was limited to the US economy.