The decline in the international economy that began in 2008, triggered by the collapse of the U.S. housing market, is known as the Great Recession.

Name: The decline in the international economy that began in 2008, triggered by the collapse of the U.S. housing market, is known as the Great Recession.
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The Great Recession, which began in 2008, was indeed triggered by the collapse of the U.S. housing market and had widespread impacts on the international economy.

The Decline in the International Economy That Began in 2008