Topic: According to the OECD report: “The 2007-08 financial crisis affected many

Topic: According to the OECD report: “The 2007-08 financial crisis affected many countries simultaneously and led to a global economic crisis unseen since the Great Depression. It was triggered by a proliferation of financial products linked to risky mortgage loans. The crisis seriously called into question financial globalization, which to a certain extent amplified risks linked to banking activities and financial markets and brought about financial imbalances among leading economic powers. The question of what rules should apply to global financial activity is crucial in channeling the risks inherent to globalization.”
Do you think economic globalization can be considered directly responsible for the financial crisis discussed under Week 5 Module?