What caused the decline in trade during the 2008-2009
Financial crisis?

Question

Quizplus · Accepted Answer

During the financial crisis, there was a decrease in demand for goods and services due to reduced consumer spending, as people were reluctant to spend money during a period of economic uncertainty. As a result, many businesses struggled, and international trade declined. Additionally, there was a decrease in trade finance availability and a tightening of credit markets, which further contributed to the decline in trade. The other options (A, C, D) do not adequately explain the decline in trade during the financial crisis.

What Caused the Decline in Trade During the 2008-2009