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Global Financial Crisis

University: N/A

  • Unit No: FYU 004
  • Level: High school
  • Pages: 2 / Words 594
  • Paper Type: Business Plan
  • Course Code:

    N/A

  • Downloads: 28
Organization Selected : N/A
Question :
  • This report is based on one of the issue which is global financial crisis which has occurred in the year 2008.
Answer :

Global issues are mainly related to the problems that are faced by whole world and affects each and every country. One of them is global financial crisis which has taken place in year 2008. It was the worst tragedy after great depression of year 1929 that has faced by world. Economy of countries have suffered due to this issue and it has let the whole wold toward the condition of recession (Global financial crisis, 2018). At the time of the disaster housing rates were fallen by 31.8%. It takes 2 years to end downturn but it was not that beneficial because the unemployment was not ended yet.

Global financial crisis has affected whole world and also created financial problems for the organisations. It was firstly analysed by banks when they get the idea of that they have to absorb losses.

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I agree to the writer because global financial crisis has affected whole world and led to the situation of recession which has created the problem of unemployment. It was very important for the governments of nations to make effective policies and strategies so that they may resolve the issue. As it was started in the month of March in year 2008 and at the same time investor sold all their shares of an investment bank Bear Sterns as the bank is having many toxic assets. This step has affected the whole world. In my point of view, it was the biggest issue that has massively affected the world and decreased funds for the companies and all of them have fired many employees as they are not having sufficient funds to pay out their workers. In the same period, it has reduced jobs and created problem of redundancy. Central banks of different countries have printed new notes and currency and launched in market so that the financial crisis can be dealt effectively. In this situation most of the markets are focused to acquire and accumulate dollar as it was the one and only global reserve currency it has increased the dependency on the monetary policy of US. At the time of the financial crisis it was essential to take immediate actions and monitor each step by government and legal authorities of the countries who get affected by this global issue. Economies of all the countries have get negatively affected by this crisis and created a problem of insufficient funds for the companies and then all of them are not able to execute business activities but they have to decrease their work force for the purpose of cost saving by cutting the cost of salaries of employees. All the markets have been crashed in 2008 and become volatile which has decreased confidence of investors and get afraid to bear a risk and sold all their investments to reduce the possibility of loss that may be occur in future and they have to bear it. Housing market have also been affected by the crisis and the banks have identified that all the house owners are not able to repay the amount of loans (Impacts of global issue, 2018). These issues have taken world downward and resulted negatively mainly for housing and stock market.

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