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Background and Definition of the Great Recession The term “Great Recession” refers to a significant economic downturn that started in 2007 and lasted through 2009, both in the U.S. and globally. This recession is considered the most severe since the Great Depression in the 1930s. Officially, the U.S. recession lasted
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Background and Overview of GIC The Government of Singapore Investment Corporation (GIC), officially known as GIC Private Limited, is a prestigious financial entity that plays a vital role in managing the sovereign wealth fund on behalf of the government of Singapore. Established in 1981, GIC was created to invest Singapore’s
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