The Classic Greek city-states flourished on the basis of production of goods and seaborne trade. The success was so great that the next natural step in the expansion of their activities was the establishment of colonial towns out in their markets in southern Italy, northern Greece and the Black Sea region. The consequence of this development was that the satellite cities / colonies gradually established their own production of goods to trade in their home markets and in even more distant regions.
In the beginning the people of the Classic Greek city-states were closely linked to the people of their colonies and everything was still ok.
In the Mediterranean region new powers developed. The Phoenicians had success with maritime commerce, and Rome gradually incorporated the communities on the Italian peninsula in their economic and political system. With the coastal areas on the Italian peninsula already colonized the Roman expansion strategies became for a long time land oriented.
A polarization that resembles that of the Roman Empire. The super rich get richer and the income of the majority of the population stagnates.
In Europe that development started later, in Denmark the shift occurred after 1984, where the foreign exchange restrictions were lifted and it thereafter became "an official national project" to move production and companies abroad! Initially this new development was slow, but gradually as more and more companies had success with that strategy, the development accelerated. The Danes reasoned (and unfortunately still believe) that what is good for the companies are good for the national economy. By now it has been independently documented that it is only those company activities that are situated in a country that are beneficial to the country.
Just as the expansion policies of the Classic Greek city states and of Rome looked like huge successes, but in actual fact were the beginning of the decline, the internationalization successes of “the Old Industrialized Countries” are actually the beginning of the end of their 600 years long economic and societal flowering. A more detailed description of the mechanism can be seen in:
The belief that globalization would result in increased national economic growth has unfortunately proved to be unfounded. The internationalized companies naturally place their activities where it is most profitable and will rather employ cheaper foreign labor and experts than expensive “Old Industrial Countries” labor and experts.
It is still "The Old Industrialized Countries” national task to maintain a well-functioning society, education, infrastructure, hospitals and other welfare services and defense, but the production and economy needed to meet all these economic demands are with increasing speed fleeing the “Old Industrialized Countries”.
What looked like economic progress was in fact growing recession in Denmark and in the other "Old Industrialized Countries" too.
As stated above, this is not primarily an economic crisis, it is " The Old Industrialized Countries” production crisis, that have had and will continue to have growing economic consequences.