The 1997–98 Asian financial crisis began in Thailand and then quickly spread to neighbouring economies. It began as a currency crisis when Bangkok unpegged the Thai baht from the U.S. dollar, setting off a series of currency devaluations and massive flights of capital.
The 2008 sub prime crisis-The decline in overall economic activity was modest at first, but it steepened sharply in the fall of 2008 as stresses in financial markets reached their climax. From peak to trough, US gross domestic product fell by 4.3 percent, making this the deepest recession since World War II. Housing prices increased, then fell, due to the subprime mortgage crisis. Banks went into crisis. The stock market plummeted, erasing wealth.
2023?
The 2008 sub prime crisis-The decline in overall economic activity was modest at first, but it steepened sharply in the fall of 2008 as stresses in financial markets reached their climax. From peak to trough, US gross domestic product fell by 4.3 percent, making this the deepest recession since World War II. Housing prices increased, then fell, due to the subprime mortgage crisis. Banks went into crisis. The stock market plummeted, erasing wealth.
2023?