A Global Issue - The Economic Recession

Recession is defined as a decline in economic performance over a given period of time. Generally, recession is a decline in economic performance for a period of more than two financial quarters (BBC News, 2008). There are different measures of economic recession such as decline in GDP, unemployment rate, business confidence among others. With the introduction of globalization countries exchange goods and services and this interaction causes spill over effects of poor economic policies from one country to another. Economic recession is a bad economic condition which should be discouraged by government leaders. In this paper I will discuss the most recent economic recession experienced by global economies.