During the 2007 economic crisis, the various defenses against global recession and worldwide financial instability appeared to be very strong. As such, developing and developed economies agreed that during this period, markets were more efficient than governments in fostering stable growth and in providing consumers with better deals in terms of price, choice, and quality. The central bankers of the world all agreed on the most appropriate regulatory measure in which institutional failure risks are lessened, and financial instability is not passed on from country to country. Financial crises usually initiate from seemingly insignificant market misfortune. Although the crisis was experienced throughout the world, it was mainly rooted in the United States, the United Kingdom, and regulations.
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