Global Norms, Local Priorities, And A $300 Billion Bankruptcy: A Comparative Study Of Bankruptcy Laws of The United States And China”

History has been marked by business and economic crises around the globe.
From antiquity to the present, one finds records of economic troubles whether
related to politics, natural disasters, or a combination of both, in the civilizations
which form the roots of Western civilization as well as China. These crises have
often led to social upheavals, and initiated changes in terms of how a society
organizes its economy. They have had significant negative effects on countless
individuals and entities, and plunged local and even global economies into recession and worse.