Globalization and the 2008 Financial Crisis?

In the 1970s profit rates of major developed economies fell and or in some mainstream economic language that the productivity, industrial productivity, manufacturing productivity, felled. What they sought as a temporary solution is to move to this low cost, low wage region to suppress the costs of manufacturing so that the profit margin can remain, can be revived. But at the same time, we create a little source of longer term imbalance in the global economy. So it wasn't because of entering of the productive capacity of Asia and China and large part of the global South. It was the underlying imbalance that ultimately led to the series of financial crisis from the pace of crisis in 1994 onwards.