Essay: Economic Recession

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Sample Essay – Economic Recession

The world is on the brink of economic recession as it faces one of the worst financial crises of recent years. The credit crisis that sprang up in the United States quickly engulfed large parts of the world leading to a downturn in investor confidence and bad times for companies, some of whom are having to close down (Elliot 2008).

This has had further adverse effects on the people of various countries, many of whom are being laid off from their jobs or are facing pay cuts as international and local businesses try to cope with the downturn in the global economy. It is this same story that is dominating the headlines all over the world from both a global and local perspective as mechanisms change and new measures are brought into place to buck the trend. Australian newspapers have similarly been blazing on about the changes in the economic policy and big business.

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