1989 OR 1929?

Video: China’s stock market crisis, explained

We’ve been here before.
We’ve been here before.
Image: Reuters/Aly Song
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China’s falling stock market has investors around the world on edge as it threatens to take global markets down with it.

But whether or not China’s market chaos triggers a worldwide crisis, the country is headed for a reckoning. And since there aren’t a lot of precedents, the outcome remains an open question. In this video we look at two equally likely and equally scary models for the Chinese stock market plunge: the United States’ stock market crash of 1929, and Japan’s crash of 1989.