global recessions
A global recession is a significant decline in economic activity that affects multiple countries around the world. It is typically characterized by falling gross domestic product (GDP), rising unemployment rates, and decreased consumer spending. Global recessions can be triggered by various factors, including financial crises, trade disputes, or widespread natural disasters.
During a global recession, businesses may struggle to maintain profits, leading to layoffs and reduced investment. Governments often respond with stimulus measures to boost the economy, such as lowering interest rates or increasing public spending. The effects of a global recession can be long-lasting, impacting economies and communities for years to come.