CRISIS AND THE INTERCONNECTIONS BETWEEN WORLD’S ECONOMIES

Abstract

This paper has like primary objective to present the crisis that hit the global economy since 1929 and the interconnections between different regions and countries. We will present also the big financial crisis that struck countries all around the world in the 21 century and the effects on the Romanian Economy. Each time when a develop country has passed through a turning point (crisis), even if the determinant factors were of a different nature, this thing led to a negative influence of the countries from the region and not only, showing by this the strong existing interconnection between the countries of the modern world (Asian crisis example, and especially the big financial crisis of the 21 century).

Keywords

• financial crisis
• interconnected economies
• turning points
• U.S. economy.