A global economic crisis occurs when economies around the world experience significant downturns, leading to widespread financial instability. This can result from various factors, such as a sudden drop in consumer spending, a banking collapse, or geopolitical tensions. During such crises, businesses may close, unemployment rates rise, and governments struggle to maintain economic stability. One of the most notable examples of a global economic crisis is the 2008 financial crisis, which was triggered by the collapse of the housing market in the United States. This crisis had ripple effects worldwide, causing recessions in many countries and prompting governments to implement stimulus measures to revive their economies.