What was the primary cause of the global economic recession in the late 2000s?

Question

Quizplus · Accepted Answer

The global economic recession in the late 2000s was primarily caused by the deregulation of the mortgage industry. This led to an increase in subprime lending and a housing bubble that eventually burst, leading to a collapse in the financial markets. While factors such as the war in Afghanistan and implementation of austerity plans may have contributed to economic challenges, they were not the primary cause of the recession. Construction of the Common Market and collapse of the American stock market were not significant factors in the global economic recession of the late 2000s.

What Was the Primary Cause of the Global Economic Recession