Debt Crisis Research Papers

Debt crisis over the last 20 years has been prevailing in countries that are developing. Big debts and unpaid loans led to exaggeration of the problem with the rise of world interests rates. Fall of prices for goods contributed to exacerbation of the crisis. Thus most of developing countries became unable to pay their payments. Account deficit in the US is the outcome of the debt crisis. Counties unable to pay their debtors began to increase the imports leading to trade deficit in the USA which has increased since 1990’s. Thus trade deficit caused account deficit. Such action may have led to massive debt for all countries concerned. The issue is very hot nowadays, as developing countries have no sources to catch up with the developed countries and debt crisis makes the gap between these two poles even wider. During last 20 years there has been a huge flow of wealth from the poorest to the richest. The number of poor people has increased and the number of rich ones has decreased although they keep much more wealth now in their hands than they used to. Even though we live in civilized world, many nations live in conditions as if in barbarian times thanks to debt crisis over the last 20 years.
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