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30. Case StudyHard

The global financial crisis in 2008 is considered the most serious worldwide financial crisis, which started with the subprime lending crisis in the USA in 2007. The subprime lending crisis led to a banking crisis in 2008 with the collapse of Lehman Brothers. Which one of the following sequences shows the correct precedence?

A. East Asian crisis → Subprime lending crisis → Banking crisis → Global financial crisis.

B. Subprime lending crisis → Global financial crisis → Banking Crisis → East Asian crisis.

C. Banking crisis → Subprime lending crisis → Global financial crisis → East Asian crisis.

D. Global financial crisis → East Asian crisis → Banking crisis → Subprime lending crisis.