What worldwide event led to significant changes in the global economy in 2008? 🔊
The worldwide event that led to significant changes in the global economy in 2008 was the financial crisis, triggered by the housing bubble in the United States. This crisis resulted from subprime mortgage lending practices, leading to a collapse in housing prices and the failure of major financial institutions. The subsequent economic downturn resulted in widespread job losses, foreclosures, and significant government interventions, including bailouts and stimulus packages. The crisis reshaped regulations in the banking sector and sparked debates about economic inequality and financial practices worldwide.
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