The global economic crisis - the crisis state of the world economy, we denote sharply since 2008 and has not been overcome to date. It evolved from the financial crisis that began in the United States. If not the depth, the scale and the impact is comparable only to the Great Depression of the 1930s. In 2009, world GDP for the first time since the Second World War showed a negative trend.
Global trend after the acute phase of the crisis in 2008 was the weakening of the middle class in the world, whereas before the crisis, its share in the total volume of the world's wealth remained long time stable, according to the report "Global Wealth Report 2015" Swiss bank "Credit Suisse". The share of 1% of the richest people in world wealth has exceeded 50% and continues to grow.
Distribution of the world crisis The crisis quickly spread to the developed countries of the world. In the pre-crisis , the average rate of growth of world trade accounted for 8.74%. With a sharp turning of the volume of bank lending and a decline in demand for goods and services, in 2008 the volume of world trade increased by only 2.95%, but showed a drop to 11.89% in The rate of global GDP growth amounted to 1.83% in 2008 and declined in 2009, world GDP for the first time since World War II - by 2.3%
In February 2008, the world's inflation rate rose to a record high. Because of distrust of currencies, as noted by George Soros, the tendency prevailed to translate them into real assets, primarily engulf the commodity sector - demonstrating the growth of prices for oil and gold. In 2009, the problem has found the opposite nature: the economic forecast pointed to deflation, because of which, for example, the Federal Reserve lowered interest rates to near zero.
November 14 the leaders of the Group of Twenty countries (G20) gathered for an anti-crisis summit, which adopted a declaration containing, inter alia, the general principles of the reform of financial markets, the reorganization of the international financial institutions, the obligation to refrain from protectionist measures for the next 12 months. December 4 the ECB and the Bank of England is significantly lowered base interest rates, a measure was made in the face of the imminent threat of deflation
December 4 The Bank of England cut its key interest rate by 1 percentage point - the rate dropped to 2%, the lowest level in the history of the Bank of England since In early December 2008, the Bank of Canada has lowered the refinancing rate to its lowest level since 1958, and recognized that the economy has entered into recession.
USA Five years later, in 2014, according to the report "The poor state of family finances» (The Precarious State of Family Finances) independent non-profit organization The Pew Charitable Trusts, a majority (70%), American (USA) families are characterized by "tight financial situation" in terms of revenues, costs or general well-being
China By 2007, the fifth consecutive year, China's GDP grew by more than 10%, the growth rate of the Chinese economy in 2007 reached the highest in the last 13 years the index %, but in the last months of 2007 amid growing concerns about the economy coming US into recession growth rate of China's economy began to decline. According to economists, this was caused by the August crisis in the US subprime and increasing the probability of the entry regarding the world's largest economy into recession
During the first three quarters of 2008, the volume of China's foreign exchange reserves amounted to about $ 2 trillion., But in the IV quarter began reducing these reserves decreased to $ 1.9 trillion. Chinese authorities have announced a plan on investing up to $ 586 billion. In infrastructure renewal and in agriculture. This amounts to 18% of China's GDP, whereas in the US "Paulson Plan" is up to 6% of GDP. The implementation of anti-crisis package launched in October 2008, it highlighted China 4 trillion yuan ($ 585 billion)
Japan October 10, 2008 Nikkei 225 Index fell to its lowest level since May 2003, dropping to points (-9.62%) and amounted to points. The Central Bank of Japan announced its intention to send 35.5 billion dollars. To support the financial market, before the Central Bank has allocated about $ 40 billion. On the same day became a bankrupt insurance company Yamato Life Insurance Co. Ltd., the amount of debt which amounted to about $ 2.7 billion