global financial crisis
The global financial crisis refers to a severe and widespread economic downturn characterized by significant disruptions in financial markets, dwindling confidence in the banking system, and a sharp decline in economic activity across countries, resulting in high unemployment rates, business failures, and adverse impacts on individuals' livelihoods and well-being.
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Related Concepts (2)
Similar Concepts
- currency crisis
- debt crisis
- eurozone debt crisis
- external debt crisis
- financial crisis
- financial globalization
- global economic cycles
- global economic governance
- global economic recession
- global financial market
- global financial secrecy
- global monetary system
- global recession
- international cooperation on global financial rescue efforts
- international financial stability