Short answer: Yes.
Long answer: Of course. The world has experienced much more dire financial situations than this and as weathered them with a fascinating resilience.
in July 2006
The recent Global Economic Crisis is one example of many
maybe
Yes. This economic situation has global effects.
yes pretty much!
Global economic crisis
http://wiki.answers.com/Q/CausesEffects_and_Remedies_of_global_economic_crisis"
Postwar reparations led to hyperinflation and economic collapse in Germany.
Holly Dolezalek has written: 'The global financial crisis' -- subject(s): Global Financial Crisis, 2008-2009, Juvenile literature, Economic history
XIAOLAN FU has written: 'China's role in global economic recovery' -- subject(s): Economic policy, Global Financial Crisis, 2008-2009, Economic conditions
A crisis is a dangerous situation, whereas a meltdown (by analogy to a nuclear reactor) is a complete collapse. A crisis, if not handled correctly, can result in a meltdown.
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