American supreme lending crisis which caused global financial crisis is one of the most important events after the World War Ⅱ. A lot of countries around the world are affected by the crisis,America is the most serious sufferer, and others countries which have enjoyed the flourish of Real Estate Market and consumption, such as the Britain, the Ireland, the Australia ,the Canada，are also shocked.Moreover,the Iceland is having bankrupted . Chinese basic of economy that is determinated by the increasing speed of economy, the cosumer price level, the international income and expenses,and the tendency of employment is not changed,.Now I will show some statistic datum from the China National Bureau of Statistics:
In the case of the increasing speed of economy: Chinese economy has still kept on 9.9% in increasing. This increasing speed is a litter higer than the average speed after Reform Open policy.
In the case of the cosumer price level: CPI in October is increased 4% within the same period. The extent of increasing is declining 0.6% compared with September.
In the case of the balance of international income and expenses:Foreign exchange reserve came up to 1900,000,000,000 dollar in the end of Spetember. It makes China to have a powerful expense ability.
In the case of the employment :Chinese government supported 9,360,000 new job positions to unemployees in the forme three quarters , which attained to 94% of the yearly aim of employment. In a word, employment tendency is satisfied.
For my research paper, I have choose to analyze the equal employment opportunities within Hy-Vee Inc. Equal employment opportunity is a very specific yet broad determination of what is allowed and what is seen as discrimination. A lawsuit can be filed against any company that does not follow the strict guidelines put into action by the Supreme Court, Legislative Body, and Executive Branch. The ...
But it does not mean that China is not influenced by the crisis. China also face some challenges.Firstly, impact has came from the exportation.China is the third international trade country in the world,whose extent of dependence on trade reaches 60%.The rapid increment of exportation is always the motivation for the Chinese economy. In 2007, the total amount of Chinese exportation reached 2,173,800,000,000 dollars that was 37.5% of the GDP and also made the economy to go up 1.5% – 2%. The USA, the EU and the Japan are the major companions of China in international trade. The financial crisis must result in the decrement of their demand, which would give rise to the reducing of amount of Chinese exportation,moreover,it could slow down the increasing speed of Chinese economy .In addition , the trade type of labor deseness ,such as textile trade , clothing trade and so on , would be affected by the stress of RMB increase in value. A lot of export-oriented middle or small companies would get into hot water.And Chinese position in International trade might change into passivity.Secondly, the financial crisis contributes to depreciation of dollar, and the capital price is decreasing extensively.Some parts of Chinese foreign exchange reserve would be disappeared. Thirdly, the financial crisis leds to citizens’ investment scare which makes depression of financial market,such as real estate market , stock market , insurance market and so on. Capital fluidity will decline which is disadvantage to the Chinese development.
However, China also has a lot of opportunities. Firstly, some countries’ governments publish series of benefit policies of export ,such as reduce the export Customs tax, decline the export price for self-saving which are advantages to Chinese importation of material .Secondly, it is the chance for Chinese government to reform . Some inefficient economic structures should be washed out. And Chinese government would pay more attention to the internal demand that will make Chinese economic development healthier. Thirdly, the financial crisis may the opportunity to improve the Chinese economic position in the world. Finally, it also a chance to build a strict system of Chinese financial markets and institutions.
The economic crisis that has swept the world since 2008 has wrought havoc in national economies all over the world. As a group, one of the more particularly hard-hit groups of nations has been the Latin American countries of Central and South America. One notable exception to this trend appeared to be the nation of Brazil. The gloomy projections appeared not to apply to Brazil. According to ...
Conclusion: The effect of the financial crisis is profound and lasting. It makes free and uncontrolled capitalism which started from Margaret Thatcher and Ronald Wilson Reagan in 1980s ebb. And government prevention becomes popular. This financial crisis for Western developed countries is how to restore and modulate original international finance system. For China, this crisis is not only the challenge, but also the opportunity.
Newspaper: 6-11- 2008