The global economic crisis is an unavoidable phenomenon, often triggered by various interacting factors. Among the main causes of this crisis include financial market instability, high inflation, and inappropriate monetary policy. Developing countries are often the worst victims of these crises due to limited resources and dependence on commodity exports. One of the main causes of the global economic crisis is the collapse of financial markets. When investors lose confidence, capital flows can evaporate quickly, leading to currency depreciation and rising borrowing costs. Developing countries, which generally have lower foreign exchange reserves, experience a direct impact in the form of a decline in the value of their currencies. This leads to higher inflation and increases the foreign debt burden. Another impact of the global economic crisis is reduced demand for goods and services from developing countries. For example, when a crisis hits developed countries, demand for exports from countries such as Indonesia, Brazil or Nigeria can decline sharply. This results in factory closures, job losses, and reduced national income. The agricultural and industrial manufacturing sectors, which are the backbone of many developing countries, often suffer significant losses. The crisis also caused an increase in poverty in developing countries. With rising unemployment rates and falling incomes, more individuals and families are falling into poverty. Data shows that during the 2008 global crisis, many developing countries experienced a surge in poverty rates, affecting their access to education, health and other basic services. Global economic uncertainty can also trigger social and political tensions in developing countries. When citizens feel economically threatened, they are more vulnerable to protests and riots. Austerity policies implemented by governments to deal with crises are often unpopular, adding to social and political instability. Developing countries need to strengthen their economic resilience to face the impact of increasingly frequent global crises. Economic diversification, strengthening institutions, and prudent debt management are important steps that need to be taken. In addition, international cooperation in the form of technical and financial assistance can also help developing countries adapt and recover from crises. Effective strategies in dealing with the global economic crisis include infrastructure development, investment in technology, and improving the quality of human resources. Additionally, it is important for developing countries to build strong social protection systems to protect vulnerable groups, ensuring that they are not left behind during difficult times. By understanding the causes and impacts of the global economic crisis, developing countries can take proactive steps to protect their economies and improve the overall welfare of society.

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