The document discusses the history and effects of global economic slumps. It summarizes that a major economic slump occurred after World War 2 known as the Great Depression, where unemployment rose to 25-33% in many countries. The financial crisis of 2007-2009 has also been considered a major economic crisis. The effects of economic crises include higher unemployment, banks retreating from emerging markets, and financial turmoil spreading worldwide. Countries most affected included Argentina, Thailand, Australia, Russia, Malaysia, and Mexico. The document calls for reforms to the international monetary system and institutions like the IMF to create a more stable global economic structure.
The document discusses the history and effects of global economic slumps. It summarizes that a major economic slump occurred after World War 2 known as the Great Depression, where unemployment rose to 25-33% in many countries. The financial crisis of 2007-2009 has also been considered a major economic crisis. The effects of economic crises include higher unemployment, banks retreating from emerging markets, and financial turmoil spreading worldwide. Countries most affected included Argentina, Thailand, Australia, Russia, Malaysia, and Mexico. The document calls for reforms to the international monetary system and institutions like the IMF to create a more stable global economic structure.
The document discusses the history and effects of global economic slumps. It summarizes that a major economic slump occurred after World War 2 known as the Great Depression, where unemployment rose to 25-33% in many countries. The financial crisis of 2007-2009 has also been considered a major economic crisis. The effects of economic crises include higher unemployment, banks retreating from emerging markets, and financial turmoil spreading worldwide. Countries most affected included Argentina, Thailand, Australia, Russia, Malaysia, and Mexico. The document calls for reforms to the international monetary system and institutions like the IMF to create a more stable global economic structure.
The document discusses the history and effects of global economic slumps. It summarizes that a major economic slump occurred after World War 2 known as the Great Depression, where unemployment rose to 25-33% in many countries. The financial crisis of 2007-2009 has also been considered a major economic crisis. The effects of economic crises include higher unemployment, banks retreating from emerging markets, and financial turmoil spreading worldwide. Countries most affected included Argentina, Thailand, Australia, Russia, Malaysia, and Mexico. The document calls for reforms to the international monetary system and institutions like the IMF to create a more stable global economic structure.
experiences a sudden downturn brought on by a financial crisis. An economy facing an economic crisis will most likely experience a falling GDP, rising/falling prices due to inflation/deflation. An economic crisis can take the form of a recession or a depression. PRICE LEVEL VS. NATIONAL INCOME HISTORY OF WORLD ECONOMIC SLUMP The World Economic Crisis after the world war 2 at the time of great depression. It was the largest and most important economic depression in modern history, and used in the 21st century as a benchmark in how far the world’s economy can fall. The Great depression had a shocking effect on every country, rich and poor. Personal income, tax revenue, profits and prices dropped, and international trade come by a half to two-thirds. Unemployment in the united states rose to 25% and in some countries rose as high as 33%. Cities all around the world were hit hard, especially those dependent on heavy industry. The financial crisis of 2007- 2009 has been called the most serious financial crisis since the great depression by leading economists. EFFECTS OF ECONOMIC CRISIS
Higher bank capital requirements on the way.
Everyone should look for “exit strategies”. BIS study confirms some perceptions of Basle accord. Banks continue retreat from south. Crisis causes massive employment. Massive retreat by banks from emerging markets. Financial turmoil spreads across the world. EFFECTED COUNTRIES BY WORLD ECONOMIC CRISIS The most effected countries by world economic crisis are Argentina Thailand Australia Russia Malaysia Mexico CONCLUSION BUILDING A WORLD ECONOMIC STRUCTURE WHERE PEOPLE MATTER Alternative global monetary system. Money is the blood of our community, and now that blood is poisoned! A community currency system. Encourage audience members to fundamentally re- think their understanding of money. ‘it is like the titanic. If we do not want to drown, we must learn how to swim’. Communities can create their own money. Such systems represent an interim step in the transition from a ‘profit economy’ to a ‘gift economy’. FINGER POINTING OR FOCUSING THE SYSTEMATIC REFORMS Argentina is focusing attention once again on the urgent need for reforming the global financial system. Argentina requires a haircut not only for foreign bondholders but also for the IMF itself. UN conference provides motion to the financial reforms but US is set to go against any step towards reforming Bretton woods. Govt., political class must take responsibilities. IMF must also be accounted for crisis. Experts suggest that if reforms aren’t made then the world will suffer more crisis. REFORM THE IMF QUOTA AND DECISION MAKING SYSTEM Quota system in the IMF and world bank should be reformed. Distribution of voting rights among member states. A few major developed countries hold a majority of the shares allocated. Few countries influence executive board and staff. Presented by: 1. SHIBA KUMAR PALO 2. SAUMYA PAILWAN 3. MANSI K THANK YOU