Beginning in early 2008 and continuing throughout the rest of that year, the United States and many of its major trading partners entered into an economic and financial crisis that quickly transcended international borders. Although the acute phase of the crisis has now passed, residual effects on domestic economies and on the international economic system remain and continue to preoccupy the efforts of economic policymakers around the world. This paper is designed to help the reader understand some of the key catalysts and trends that caused the global economic meltdown.
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