Global financial crises usually involve an exchange rate crisis, a banking crisis, a debt crisis, or a combination of these three crises. Prior to beginning work on this assignment, read Gerber's (2017) Chapter 12, focusing on The Case Study: The Global Crisis on pages 299-302. Then, respond to the following components:

• Describe the common causes of global financial crises.
• Analyze the specific causes of the 2007-2009 global financial crisis.
• Choose one country other than the United States, and address the following:
  • Compare and contrast the impacts of the 2007-2009 global financial crisis on this selected economy with the impacts on the U.S. economy.
  • Summarize how the country's government responded to the crisis.
  • Classify the country's current economic situation within the world economy.