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KiRa [710]
2 years ago
14

What effect did the 2008 economic downturn in the united states have on the global economy?

Business
1 answer:
Monica [59]2 years ago
3 0

According to Moody's Analytics, between the pre-recession high in the second quarter of 2008 and the low reached in the first quarter of 2009, the Great Recession resulted in a loss of more than $2 trillion in global economic growth, or a decline of about 4 percent.

The global financial crisis, which began in developing nations in late 2007, had a significant impact on developing countries. Emerging and developing economies' economic growth sharply decreased from 13.8% in 2007 to 6.1% in 2008 and 2.1% in 2009. (IMF, 2009a, and 2010). Cheap credit and loose lending rules, which created a housing bubble, were the root causes of the Great Recession of 2008.

To learn more about  economic growth, click here.

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Answer:

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