Personal Finance and Money Management

No historical recession has ever been to the degree that harsh as the current global economic recession. Most historical recessions affected the economic super powers of that time, including the USA, USSR and Great Britain. However, the current economic recession that started around the year 2007 has conceited all the major economic powerhouses and even smaller countries in Africa.

The USA is the worst hit country and the effects of this recession are trickling across the globe to Asian countries like Japan and India, which have not able economic downturns for a very long time. Also facing historical GDP decline are countries like China, Taiwan, Hong Kong and Macau, all bordering the southeast Asian countries.

Historical recessions show a certain economic trend that is fast establishing itself.

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