Global Effects Of Global Effects On The World Economy

Being oil producing countries, the Middle East region had a strong currency and a stable economy due to strong oil prices. Also, helped by direct foreign investment and aid from other Arab countries, the Arab region was able to maintain strong during the crisis. Asian countries economies suffered a slow economic growth during 2008 and 2009 mainly because being export economies, and the United States netting almost 1/3 of world’s consumption. East Asia was the most affected part of Asia, specifically Singapore and Japan. Singapore GDP’s dropped from a 14% annual growth rate in 2008 to a 1.1% in 2009 and Japan annual growth rate declined an astonishing 15.2% during the first quarter of 2009. As in the USA, Asia economy have had a strong recovering road but has been positively affected by the USA uprising economy. (Adbi.org) United States The USA financial system suffered one if it’s hardest crisis in 2008. According to specialists the average house hold in USA lost an average of 5,800$ in income during the recession peak. The cost to the Federal government to stop the crisis was around 2,000$ on average for every household in America, and the combined of the decreasing costs of stock values and housing values was around 100,000$ average for every household in America. (pewtrusts.org) Gross Domestic Product: The USA gross domestic product suffered it highest decrease during the recession in the 4 quarter of