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re-write: The Global Financial Crisis (GFC) of 2007-2008 indeed had a significant impact on the global economy and the financial sector, making it a high

re-write: The Global Financial Crisis (GFC) of 2007-2008 indeed had a significant impact on the global economy and the financial sector, making it a high impact event. The crisis was triggered by a complex interplay of valuation and liquidity problems in the United States banking system and quickly spread to other economies due to the interconnectedness of global financial markets

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