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Showing posts from January 27, 2013

Q&A: What is the current status of the global economic crisis?

Q&A: What is the current status of the global economic crisis? Question: Where does the global economic crisis currently stand, which began in the USA and engulfed Europe and then the world?Answer: To shed light on this subject, we will mention the following:1. The collapse of the real estate market in the US spread across the world resulting in the collapse of many banks, which lead to unprecedented government intervention to halt global economic collapse. The result however, was what is now called the great recession, the worst since the great depression of 1929. The global financial crisis brought to light the fact that the boom of the preceding decade was in reality driven by debt and after five years the world's largest economies continue in their failure to resolve this.2. United action has been attempted by the world's largest economies in order to coordinate a resolution to the crisis. This was argued on the basis that the global economy is interlinked due to the ef…