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The United States

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Globalization Contained

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Abstract

The global financial crisis (GFC) of 2008– 9 was triggered by reduced interest rates, easy credit, subprime lending, and other shortcomings in the United States’ banking system. These shortcomings led to a sharp decline in world trade, private capital flows, and foreign assistance to needy countries. This decline resulted in turn in slower economic growth, falls in production and income, higher global unemployment, and social unrest.

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© 2013 Lance E. Hoovestal

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Hoovestal, L.E. (2013). The United States. In: Globalization Contained. Palgrave Macmillan, New York. https://doi.org/10.1057/9781137315915_6

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