The global economic crisis is a complex phenomenon influenced by various factors. In understanding the main causes of this crisis, we need to consider several interconnected aspects.

First, international financial turmoil play a crucial role. Fluctuations in currency exchange rates and stock market instability often cause stress on the global economy. When investors lose confidence, they tend to withdraw investments, resulting in decreased liquidity and corporate bankruptcy.

Second, debt crisis in various countries, especially in developing countries, has also triggered the global economic crisis. Many countries take on large amounts of debt to finance development projects and stimulate the economy. However, when debt interest increases, the ability to repay becomes difficult, which can lead to debt default. This debt crisis created a domino effect that was detrimental to the global economy.

Third, climate change and natural disasters occur more frequently and have an impact on the agricultural and infrastructure sectors. This creates economic instability, especially in countries that rely heavily on agriculture. Global warming causes droughts and floods, contributing to economic uncertainty.

Fourth, international trade an imbalance can cause tensions between countries. Protectionism and tariff policies imposed by several countries increase trade costs, disrupt supply chains, and reduce global economic growth. When countries impose high tariffs on each other, the impact will be felt throughout the world.

Fifth, technological innovation which can quickly create uncertainty in the job market. With increasing automation, many jobs are being lost, triggering the conversion of the economy from traditional industries to technology-based ones. Sectors that are not adaptive to these changes are at risk of being marginalized, while new sectors are not yet fully mature.

Besides that, global inflation is also an important cause of the economic crisis. Rising raw material and energy prices due to high demand or supply disruptions put pressure on all economic sectors. High inflation can erode people’s purchasing power and reduce economic growth.

From a policy perspective, government and central bank response the crisis is also very decisive. Monetary policy that is too tight can hinder growth, while policy that is too loose can lead to asset bubbles that can burst. This imbalance in decision making adds to the complexity of the situation.

Final, socio-political factors such as public discontent and social unrest also contribute to global economic instability. Inequities in the distribution of wealth and access to resources can make matters worse, triggering protests that disrupt economic activity.

By understanding and analyzing the various causes of this global economic crisis, we can be better prepared to respond to and prevent similar crises from occurring in the future.