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India's economy benefited from recent high economic growth which declined greatly due to the global economic crisis. [ 27 ] [ 28 ] Economic growth in India during FY2008-09 stood at 6.7%. [ 29 ] The global crisis had less impact of India because exports account for only 15% of India's GDP, less than half the levels of major Asian economic ...
The recession began in most countries in February 2020. After a year of global economic slowdown that saw stagnation of economic growth and consumer activity, the COVID-19 lockdowns and other precautions taken in early 2020 drove the global economy into crisis. [1][2][3][4] Within seven months, every advanced economy had fallen to recession. [5 ...
The ILO estimates global unemployment to rise between 5.3 million ("low" scenario) and 24.7 million ("high" scenario) from a base level of 188 million in 2019 as a result of COVID-19's impact on global GDP growth. By comparison, global unemployment went up by 22 million during the Great Recession. Women informal workers, migrants, youth and the ...
The 1997 Asian financial crisis was a period of financial crisis that gripped much of East and Southeast Asia during the late 1990s. The crisis began in Thailand in July 1997 before spreading to several other countries with a ripple effect, raising fears of a worldwide economic meltdown due to financial contagion. [1]
If a global recession were to occur in its full magnitude, an estimated 100 million jobs would be lost around the world, with total lost capital hovering at US$120 trillion. Countries in East Asia (including China) have suffered smaller declines because their financial situations are more robust. They have benefited from falling commodity ...
Factory activity contracted in most Asian countries last month as an escalating trade war between Washington and Beijing raised fears of a global economic downturn and heaped pressure on ...
Sovereign funds and private buyers from the Middle East and Asia, including China, [9] are increasingly buying in on stakes of European and U.S. businesses, including industrial enterprises. [10] Due to the global recession they are available at a low price.
The Great Recession was a period of market decline in economies around the world that occurred from late 2007 to mid-2009. [1] The scale and timing of the recession varied from country to country (see map). [2][3] At the time, the International Monetary Fund (IMF) concluded that it was the most severe economic and financial meltdown since the ...