&gt;Compare a US problem that caused global recession<p>Its an extreme oversimplification to say that 2008 was a US problem.  It was a problem of international finance, the bulk of which (maybe unwisely) is done via US financial institutions and with US financial products.  That a problem with international finance was linked to recessions globally is not surprising.<p>Similarly, if some systematic problem in international manufacturing appeared, the bulk of which (perhaps unwisely) is done in China, we would expect it to also have global ramifications.<p>It turns out that a financial problem in China is currently contained because it is not a major player in international finance (yet).