The contemporary Great Recession and the global financial...

Since the advent of the subprime crisis in 2007 that it is commonly believed to have led to the Great recession and to the present global financial crisis, these issues have been subject to much research. In fact, no one can claim that the Great Recession and the global financial crisis have been under-researched. In fact, the new world recession has been analysed from different angles and perspectives. Historians, economists, financial experts, psychologists, anthropologists and other experts in academic, financial, economic and other fields of research are still analysing the contemporary global financial crisis. There is ample information on the new world recession, and upcoming documentations are bringing new knowledge on this†¦show more content†¦This is one of the reasons why many intellectuals and academics claim that their discourses on the new world recession are the truth. For example, some nations believe that their macro-economic policy is the best solution to get out of this global financial crisis. They are spreading their roots to become the new hegemony. However, these discourses also make possible the sharing of cues, ideas and values that contribute to a better understanding of the global financial crisis, its impacts, causes and implications. They facilitate the transmission of knowledge that is vital to find means to get out of the crisis and minimise the negative impacts of the recession. However, transmission also implies that these discourses influence people’s perception and conception of the new world recession. Hence, these discourses confer power to leaders and academics to manipulate the population to believe what they want the latter to believe. The Great Recession of the late 2000s started with the subprime crisis in 2007 that has weakened the economy of almost all the big nations with maybe the exception of the Republic of China. It seems, when we have a look at economic growth of China that, it has, until now, to some degree, benefited from the global financial crisis. Indeed, it should be highlighted that when a recession occurs, depending on the type of recession, in general, the economies of some countries areShow MoreRelatedGlobal Financial Crisis : Its Causes And The Global Responses Essay1592 Words   |  7 PagesAssignment topic: Global financial crisis: its cause and the global responses Introduction The global financial crisis or economy crisis is commonly believed to have begun in July 2007 with credit crunch, when a loss of confidence by the US investors in the value of sub-prime mortgages caused a liquidity crisis. 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