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Essay / Research Paper Abstract
This 11 page paper examines the global recession and credit crunch of 2008/9 and explores some of the potential causes, including a lack of regulation, irresponsible and imprudent lending, borrowers attitudes and exacerbation by other environmental factors. The policies and potential solutions that are being pursued, to assess how they are projected and working and whether or not they are likely to have any impact. The bibliography cites 9 sources.
Page Count:
11 pages (~225 words per page)
File: TS14_TEglobrec.rtf
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Unformatted sample text from the term paper:
that are indicative of the broad and deep nature of the problem. For example, February 2009 saw the Japanese car industry suffer 56.2% decrease on February 2008 (BBC News (a),
2009). Overall, the World Trade Organization (WTO) expects global trade to decrease by 9%, with the developed countries being the worst effected (BBC News, (b), 2009). The recession and credit
crunch was forecast by some, furthermore it may be argued that the downturn actually started at the end of 2007, and is expected to last into 2010. The problem
appears to be global, with the issues not only linked to individual economies and the knock on effect due to complex trading reliances, but similar trends seen in different countries
and in different sectors of those economies. To appreciate the problem and consider future measures to avoid similar situations, if indeed it can be avoided, it is important to look
at the causes behind the current problems as well as the way that governments are trying to resolve the issue and if the solutions proposed are likely to work.
2. Causes of the Recession In many cases recessions or other economic crisis are often blamed on regulation, either too much of it, or insufficient regulation. Looking at the current
regulation it may be easy to argue that the cause has been under regulation in the financial markets. However this is a very short sighted view, as within any regulatory
structure, banks and other financial institutions had a choice on how to act and what policies to follow. It was these choices that may be seen as a major contributory
factor to the recession. It may also be argued that although the depth of the recession was not foreseen by many, the potential for problem was seen and documented
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