글로벌: 역사적 시장 붕괴와 그 국제적 영향

Market crashes are not confined to one region; their effects are often felt globally, as interconnected economies experience ripple effects from financial turmoil in major markets. Here are some of the most significant global market crashes and their broader implications:

1. The 2008 Global Financial Crisis: The 2008 financial crisis was a defining moment in modern economic history. It began in the United States, where the housing bubble burst, leading to the collapse of major financial institutions such as Lehman Brothers. The crisis quickly spread worldwide due to the interconnectedness of global financial markets. Stock markets across Europe and Asia suffered massive losses, and global trade plummeted.
   In Europe, the crisis exposed weaknesses in the financial systems of several countries, most notably in the form of the European Sovereign Debt Crisis. Many European banks had significant exposure to U.S. mortgage-backed securities, leading to a sharp decline in bank lending and economic activity. The global crisis led to widespread unemployment and recessions, forcing central banks around the world, including the ECB, to implement extraordinary monetary policies, such as lowering interest rates to near zero and launching quantitative easing programs.
   
   
2. Black Monday (1987): Black Monday, October 19, 1987, saw stock markets around the world crash in a single day. The U.S. market dropped by 22%, with similar declines seen in other regions, including Europe and Asia. The crash was triggered by a combination of factors, including computer trading algorithms, overvaluation, and investor panic. In the aftermath, regulators worldwide introduced measures like circuit breakers to prevent future crashes from snowballing.
   While the global economy rebounded relatively quickly, Black Monday highlighted the growing influence of computerized trading on global markets and the need for more robust financial regulation.
3. Asian Financial Crisis (1997): While this crisis originated in Thailand due to the collapse of its currency (the baht), its effects were felt across the globe. As investors lost confidence, currencies and stock markets across Southeast Asia—including Malaysia, Indonesia, 그리고 South Korea—experienced massive selloffs. The crisis led to recessions in these countries and required international intervention from institutions like the International Monetary Fund (IMF) to stabilize the affected economies.
   Though centered in Asia, the crisis impacted global trade and investment, as multinational corporations and investors in Europe and North America scaled back their operations in the region. The ripple effects underscored the interconnected nature of the global economy, where regional crises can have far-reaching consequences.
   
   
4. The Great Depression (1929–1939): The 1929년 월스트리트 붕괴 marked the beginning of the Great Depression, a decade-long economic downturn that had severe global repercussions. The U.S. stock market collapse led to a banking crisis, mass unemployment, and a sharp contraction in global trade. Countries worldwide were affected, with Europe experiencing high unemployment and industrial decline. Germany, still recovering from World War I, was particularly hard hit, leading to political unrest and the rise of extremism.
   In response, governments around the world introduced protective tariffs and reduced international trade, further deepening the global recession. The aftermath of the Great Depression reshaped global economic policies, leading to the creation of new financial institutions like the World Bank 그리고 IMF to prevent future global economic crises.