Final answer:
The economic downturn in 2008 had global repercussions, leading to widespread economic hardships and highlighting the interconnectedness of the world's economy.
Explanation:
Economic Downturn in 2008
The economic crisis of 2008, marked by a housing market collapse and financial firm bankruptcies, had significant repercussions globally, leading to widespread economic hardships.
The response, including government loans to avoid bankruptcy, highlighted the interconnected nature of the world's economy and the impact of financial crises on societies.
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