No - the extent of America's financial dominance in the 20th century was not the result of a single event (the Great Depression), but of three; WW1 (in which Br

No - the extent of America's financial dominance in the 20th century was not the result of a single event (the Great Depression), but of three; WW1 (in which Britain lost its position of financial dominance), the Great Depression (in which the USA cemented theirs), and WW2 (in which all other industrialised countries were either defeated or depleted to a much greater extent than the US was). As a result, there wasn't really any country in the position to challenge the USA at the end of WW2; China is not at all in the same position now. This being said, the crisis may have helped China along in its aim to becoming a global superpower; they have reserves that no-one else has, and so far they've been using them to buy strategic resources (mainly primary materials) as well as lending to the USA. It's a nice position for them to be in, although they probably would have preferred finishing their transition away from manufacturing before being thrust into it.