Global Epidemic : Coronavirus, Law and Economy

When the financial crisis rocked the global markets in 2007, no one at that time could have possibly imagined the extent of the damage that occurred. In months that followed, several major investments and commercial banks would fail, insurance and saving schemes would crash, people would lose their jobs, and corporations would shrink to the barest minimum. If nations were not interdependent, then the crisis could have remained a United State of America's financial crisis. But, due to the unavoidable interconnectedness of economies and financial systems, the consequences of the crisis spread from the United States to several economies across the world, shaking the universe so much that it precipitated the great recession – the worst economic downturn since the great depression. A crisis – which originated from US as a result of the collapse of its housing market – demonstrated its effects on world economies and threatened to destroy the international financial system