When 2008-2009 global financial crisis has erupted most of people supposed that it was a temporal process and might be end with financial precautions and macroeconomic solutions. Actually it was quite difficult to forecast that the crisis would spread all around the world and would influence financial, socioeconomic and political life of most of the people. Honestly the impact of the crisis' trace still has not been removed today and it has taken longer than expected. Some of the global economic activities which got slower with the turmoil, could not reach to the levels of pre-crisis even today. This chapter discusses 2008-2009 global financial crisis and its impacts on the global economic activities by investigating crisis history and its economic effects on some sectors and countries by reviewing literature.