Economic Crises of the 21 Century: Specifics, Trends, Consequences

Relevance.The development of world trade has become the highest priority for each state, so an important task today is to predict and analyze economic downturns and crises. Today, stimulating the economy is a very important task in connection with the beginning of the global pandemic, and because of the emergence of a new economic crisis. The crisis that the world is experiencing now is the largest since the" Great Recession" of 2008, so it is necessary to consider the features of these two economic crises, as well as their consequences.
The purpose is to conduct a comparative analysis of the 2008 crisis and the pandemic crisis.
Objectives: to consider the causes and consequences of the global financial crisis of 2008 and the crisis of 2020; to analyze the main macroeconomic indicators of international trade; to analyze the situation of Russia in the crisis economic conditions.
Methodology.In the study of this theme were used: the method of statistical estimation problems, the method of theoretical analysis of the sources of research problem, graphical method, the comparative method.
Results. A comparative analysis of the two largest crises of the twenty-first century showed that despite the different causes underlying the crises of 2008 and 2020, the consequences that they cause have the same "symptoms", but their scale and speed of spread depend on the speed and rationality of the government measures taken. Thus, in 2020, it was possible to avoid high jumps in the unemployment rate, despite the low decline in world trade.
Conclusion.The prospects for overcoming the global pandemic crisis in 2020 show that the pace at which states around the world are coping with the consequences of the pandemic is quite high. At the same time, the priority tasks in the crisis conditions for the state are the stabilization of domestic demand on the national market and the promotion of world trade. At least two major crises of the XXI century the various measures taken by States in the world, are also quite effective, but it is necessary to optimize budgets and costs to solve the problems that caused the pandemic in the field of health and social services.

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