global economy

The Global Financial Crisis and Its Effects on the Global Economy

A financial crisis is a rapid and widespread collapse of the economy, where stocks, bonds, and real estate are all drastically devalued. Banks may become distrusted due to limited access to credit or overly aggressive lending practices during this time of economic upheaval. However, in today’s world, where financial borders are getting blurred, this financial crisis seen in one of the big economies may spread to other countries and become…