有关金融危机的英语作文 求 金融危机英文介绍
\u82f1\u8bed\u4f5c\u6587\u91d1\u878d\u5371\u673a\u7ed9\u5e02\u573a\u4f9b\u9700\u5e26\u6765\u7684\u5f71\u54cdWhat Caused The Financial CrisisI think we can sum up the cause of our current economic crisis in one word \u2014 GREED. Over the years, mortgage lenders were happy to lend money to people who couldn\u2019t afford their mortgages. But they did it anyway because there was nothing to lose. These lenders were able to charge higher interest rates and make more money on sub-prime loans. If the borrowers default, they simply seized the house and put it back on the market. On top of that, they were able to pass the risk off to mortgage insurer or package these mortgages as mortgage-backed securities. Easy money!and what went wrong with our financial system The whole thing was one big scheme. Everything was great when houses were selling like hot cakes and their values go up every month. Lenders made it easier to borrow money, and the higher demand drove up house values. Higher house values means that lenders could lend out even bigger mortgages, and it also gave lenders some protection against foreclosures. All of this translates into more money for the lenders, insurers, and investors. Unfortunately, many borrowers got slammed when their adjustable mortgage finally adjusted. When too many of them couldn\u2019t afford to make their payments, it causes these lenders to suffer from liquidity issue and to sit on more foreclosures than they could sell. Mortgage-backed securities became more risky and worth less causing investment firms like Lehman Brothers to suffer. Moreover, insurers like AIG who insured these bad mortgages also got in trouble.The scheme worked well, but it reverses course and is now coming back to hurt everyone with a vengeance.
How to Solve the Financial Crisis
The financial crisis deepens. The bailouts are piecemeal and national, whereas the crisis is global. What\u2019s worse, the policy responses are not based on a clear diagnosis of the underlying problem.
Some politicians talk as if this crisis were merely about illiquidity: banks don\u2019t have enough liquid assets to meet their current obligations. If this were so, the problem would already have been solved. The reason is that most countries have three institutions in place that generally prevent this sort of thing from happening: (1) central banks that are \u201clenders of last resort\u201d, (2) depositors are insured (up to a specified maximum) and (3) banks are regulated and supervised.
But the problem now is different. Once we understand it, we are close to finding a solution. It is not just a matter of potential illiquidity, but also of potential insolvency: the total assets of many financial institutions could fall short of their total liabilities. At the current fire-sale asset prices, they\u2019re in danger of going broke. The central banks can\u2019t help here, since they lend only for short periods against highly-rated collateral.
The difficulty is that some of the troubled financial institutions are too large too fail (their demise would wipe out too much wealth, shut down too many businesses, throw too many people into unemployment) and are very contagious (their bankruptcy would lead to the bankruptcy of other large institutions). That is why we\u2019ve seen lots of case-by-case bailouts (Bear Stearns, AIG, Fannie Mae und Freddi Mac, Fortis, Bradford and Bingley, Wachovia, Glitnir, etc.), climaxing in the largest, the Paulson plan.
Although China's financial institutions, some enterprises hold some U.S. financial institutions, bonds or assets, but not large scale. These financial institutions in China are joint ventures and investment projects, the situation may have some impact on business in China. But in general, the impact can be controlled. The impact of U.S. financial turmoil investment, consumption, employment, income, such as the Lehman bankruptcy, there are about 20,000 employees will lose their jobs, dimensionless loan crisis more people unemployed. Decline in its consumption and investment, will reduce imports from China. Increase the rate of depreciation of the dollar to dollar-denominated price of the product will be.
Many of our imports are denominated in U.S. dollars, while imports increased by a lot of costs, thus affecting the production costs of Chinese enterprises, the factory products will certainly increase. China's foreign exchange reserves, financial institutions, investment companies in the United States, mainly the bond investment. These financial institutions, the United States the event of bankruptcy, and its bonds and other investment products on the drastic slump in the value of market risk. Many U.S. banks in China, corporate banking, joint venture banks, financial institutions, such as equity participation. If these companies sell a large amount of assets in China, a lot of money out from the Department, the short-term impact of China's foreign exchange market is also larger
. In addition, the psychological impact on investors. Although China's direct foreign investment into the financial markets have control, but the psychology is inseparable conduction. Meeting credit crisis, China's export company, providing services for export will be affected by the performance of the company, which indirectly affect the local financial income, employment, such as Zhejiang, Guangdong's GDP fell faster.
The term financial crisis is applied broadly to a variety of situations in which some financial institutions or assets suddenly lose a large part of their value. In the 19th and early 20th centuries, many financial crises were associated with banking panics, and many recessions coincided with these panics. Other situations that are often called financial crises include stock market crashes and the bursting of other financial bubbles, currency crises, and sovereign defaults.
Many economists have offered theories about how financial crises develop and how they could be prevented. There is little consensus, however, and financial crises are still a regular occurrence around the world.
The global financial crisis of 2008 is a major financial crisis, the worst of its kind since 1987, and which is ongoing as of mid-November 2008. It became prominently visible in September 2008 with the failure, merger or conservatorship of several large United States-based financial firms. The underlying causes leading to the crisis had been reported in business journals for many months before September, with commentary about the financial stability of leading U.S. and European investment banks, insurance firms and mortgage banks consequent to the subprime mortgage crisis.
Beginning with failures of large financial institutions in the United States, it rapidly evolved into a global crisis resulting in a number of European bank failures and declines in various stock indexes, and large reductions in the market value of equities (stock) and commodities worldwide. The crisis has led to a liquidity problem and the de-leveraging of financial institutions especially in the United States and Europe, which further accelerated the liquidity crisis. World political leaders and national ministers of finance and central bank directors have coordinated their efforts to reduce fears but the crisis is ongoing and continues to change, evolving at the close of October into a currency crisis with investors transferring vast capital resources into stronger currencies such as the yen, the dollar and the Swiss franc, leading many emergent economies to seek aid from the International Monetary Fund. The crisis was triggered by the subprime mortgage crisis and is an acute phase of the financial crisis of 2007–2008.
绛旓細Financial crisis impact on school education The financial crisis has had a horrific impact on our district: Our school board signed our instructional contract last March (2008) for the 2008-2009 school year, which included something called steps--additional pay of a few pennies for ...
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绛旓細The fundamental reason is the virtual economy and real economy asymmetry. Including the overall economy, as well as asymmetric asymmetric economic structure. And why there is a virtual economy and real economy asymmetry is the early Marx has come to the conclusion: the inevitable result...
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绛旓細EVEN by the standards of the worst financial crisis for at least a generation, the events of Sunday Spetember14th and the day before were extraordinary. The weekend began with hopes that a deal could be struck, with or without government backing, to save Lehman Brothers, America鈥...
绛旓細also become a must for undergraduates (鍦ㄦ牎鏈鐢)to work harder than before to keep their competitive edge (淇濇寔绔熶簤鍦颁綅). More students are engaged in their studies with no distractions (鍒嗗績锛屽共鎵). They are investing today for a promising (澶ф湁甯屾湜鐨勶紝鍓嶉旀棤閲忕殑) tomorrow....
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绛旓細What are the reasons in the end, resulting in so many college graduates today find work? I see only two reasons: one is the government's heavy taxes, and the other is China's real estate bubble rise too quickly. Two reasons for this is like two big mountains, the little ...
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