Analyze the following statement “the global financial crisis of 2008-2

Analyze the following statement “the global financial crisis of 2008-2009 was a great illustration of how interdependent national economies are.”

What will be an ideal response?

ANSWER

True. The global financial crisis that started in 2008, although commonly blamed on the U.S. quickly spread to all economies in the world. Although overt global policy coordination was not practiced, countries followed similar policies to escape the crisis, such as decreasing interest rates and providing funds to financial institutions to help stimulate lending.