The Fiscal Crisis Of Theu.s. It's Impact On World Economy

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The purpose of this paper is to describe the 2007-08 financial crisis in the U.S, it’s impact on world economy and why did it affect other countries of the world. Firstly, this paper will give information about the 2007-08 financial crisis in the U.S. and what were the main causes for it. The paper will discuss what impact the financial crisis had on different parts of the world and why did it have that impact. At the end, this paper will discuss which countries were the most affected by the financial crisis. The subject draws the connection between economies of different parts of the world and shows how do they affect each other. The subject itself is very interesting and even though it happened recently, there is already a lot of literature and information about it. 3. Source qualifications: One source that I am using is “The Economist”, which is a prestigious weekly newspaper. “The Economist” offers authoritative insight and opinion on international news, politics, business, finance, science and technology. Another source is the world economic outlook update by the “IMF”. Reports by the “IMF” are qualified and trustworthy because it is an international organization, which oversees the international monetary and financial system and monitors the economic and financial policies of its member countries. Another source is a paper “The 2008 World Economic Crisis: Global Shifts and Faultlines” by Bulent Gokay. Bulent Gokay is a Professor of International Relations at the

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