Currency digitization can avoid financial crisis
Publish: 2021-05-24 22:10:12
1. The causes of the 2008 financial crisis
[Abstract] under the background of economic globalization, international economic imbalance will lead to the reallocation of international capital on a global scale. In a sense, the international economic imbalance and the defects of the international monetary system are the preconditions for the outbreak of the financial crisis, while the attack of the international hot money is the precondition for the outbreak of the financial crisis. From the current international situation and China's domestic situation, the prerequisite for the financial crisis has been met, so to prevent the attack of international hot money is the primary goal of formulating the current macroeconomic policy of our country<
[Key words] financial crisis, international economy, international monetary system, international hot money
whether the financial crisis is caused by external factors or internal factors, there have always been two opposite views in the academic circles: conspiracy theory and law theory. Conspiracy theory holds that the financial crisis is caused by premeditated and planned attacks on the economy, and is caused by external factors, especially after the financial crisis in Southeast Asia. According to the law theory, the financial crisis is the law of the economy itself, which is caused by internal factors. The theory of three generations of financial crisis is basically the theory of law of recognition. With the improvement of financial supervision technology, the possibility of a country's financial crisis caused by regulatory or regulatory problems becomes smaller; With the increasing trend of economic globalization, the modern financial crisis basically shows that under the condition of international economic imbalance, international capital, driven by interests, uses the distorted national monetary system to lead to the outbreak of regional financial crisis. Therefore, in essence, the nature and causes of the financial crisis have changed. Based on the existing research, this paper analyzes the causes of the financial crisis from the perspective of international economy< First, international economic imbalance
Huang Xiaolong (2007) [1] believes that international balance of payments imbalance leads to the imbalance of the international monetary system, and virtual economy leads to excess liquidity, which in turn leads to global economic imbalance and financial crisis. Huang Xiaolong studied the financial crisis from external factors. However, fundamentally speaking, the root of global economic imbalance should be the imbalance of the real economy. The imbalance of international payments is just the appearance of the imbalance of the real economy. The imbalance of the real economy leads to the international flow of monetary capital, and the flow of international capital leads to the expansion and depression of the virtual economy, which leads to the shortage of liquidity, It can eventually lead to a financial crisis. Therefore, the imbalance of the global real economy is the necessary condition for the financial crisis, while the liquidity shortage caused by the virtual economy is the sufficient condition for the financial crisis
throughout the history of financial crisis, financial crisis is always accompanied by regional or global economic imbalances. Before the outbreak of the financial crisis in 1929, great changes had taken place in the international economic structure. Britain's world hegemony graally tilted to the United States and Europe. In particular, the rapid economic growth of the United States showed a trend to replace Britain's hegemony. This international economic imbalance laid a curse for the subsequent financial crisis. At the end of the 20th century, the trend of regional economic integration is faster than the trend of economic globalization. The economic relevance between Latin American countries and the United States makes the "Butterfly Effect" of Latin American countries on American economy stronger than other countries. In the last 20 years of the 20th century, when the economic structure of Latin America was unbalanced, it was often manifested as the financial crisis of Latin American countries. The imbalance of economic structure in Europe, the United States and Japan is also the source of financial crisis in Europe, the United States and Japan. When the stable regional or global economic structure is broken, the new economic balance is often driven by the financial crisis. The European financial crisis in 1992 originated from the rapid development of German economy after the reunification of Germany, which broke the economic balance between Germany and the United States and between Germany and other European countries. In 1990, Japan achieved a new economic balance because of the financial crisis after the economic balance between the United States and Japan was broken
regional or global economic imbalance will lead to the reallocation of international capital in a certain range. In the context of regional economic integration and economic globalization, the influence of a country's macro policy may be regional or global. In the short run, the international economy is relatively balanced at a certain point, and the total amount of global capital and demand is certain. When a country's economy changes, it will cause corresponding changes in international capital and demand in different countries. If it is a small country's economy, its impact is only regional. If it is a big country, its impact is global. When the economy of a big country becomes stronger, it will attract international capital into the country, resulting in the capital outflow of other countries. When the capital outflow reaches a certain extent, there will be a shortage of liquidity, and the financial crisis will change from possibility to necessity. The signal of this change is the high interest rate policy of big countries, or the strong monetary policy of big countries. For the small country economy, when the economy becomes stronger, it will attract the inflow of international capital. When the amount of international capital flows into the country, the real economy of the country will absorb the saturation of international capital, and the international capital will merge with the virtual economy of the country to promote the bubble of the economy. When the virtual economy and the real economy deviate seriously, international capital will soon withdraw. As a result, the financial crisis broke out
from the formation path of the financial crisis caused by the international economic imbalance, we can see that the international economic imbalance is manifested through the balance of payments, and the adjustment of the balance of payments imbalance is carried out through the international monetary system. If there is a perfect and effective international monetary system, then the mandatory and destructive adjustment of the international economy can be completely avoided, that is, the occurrence of the financial crisis can be avoided, However, the real international monetary system is manipulated by big powers, so the international economic imbalance will be further distorted and enlarged< Second, the distortion of the international monetary system. Xu Mingqi (1999) [2] holds that, on the one hand, the international monetary system is characterized by weakening order and hovering between reform and maintaining the status quo; On the other hand, developing countries are in a weak position in international trade, investment and debt; The developing countries under the double constraints have to swallow the bitter fruit of the financial crisis again and again, so the inherent defects of the existing international monetary system can not escape its blame. That is to say, the international monetary system follows the basic principles and concepts of the Bretton Woods system in mediating the imbalance of international payments, while countries lose the original order and discipline in formulating monetary policies to coordinate international economic imbalances. Therefore, the current international economic imbalances are magnified and intensified by the current international monetary system
after the collapse of the Bretton Woods system, the existing international monetary system is a loose international monetary system. Although the role of euro and yen in the international monetary system is graally increasing, the diversification of reserve currency can not effectively solve the "Triffin problem", but only decentralize the contradiction, that is to say, the identity of reserve currency is not only a national currency but also an international currency. It is bound to be in contradiction with the requirements of the world economy or regional economy for the reserve currency countries to formulate macroeconomic policies according to the domestic macroeconomic conditions, which will lead to the instability of the foreign exchange market and the turbulence of the financial market. A country that is linked to or pegged to a certain reserve currency is not only affected by the monetary policy of the reserve currency country, but also by the cross effect of monetary policies among many countries. The changes of exchange rate and interest rate between reserve currencies have a greater impact on developing countries, making the foreign exchange market more unstable and turbulent. This impact can be divided into regional and global. In view of the special status of the US dollar, the impact of US economic policy changes may be regional or global
take the US dollar as an example, the adjustment of US dollar value is realized through the adjustment of US dollar interest rate. When setting US dollar interest rates, the Federal Reserve can not take into account the macroeconomic conditions of countries (regions) pegged to us dollar or using US dollar as reserves. Therefore, when US dollar interest rates are adjusted, it will often have an impact on other economies, especially those countries and regions that have close economic ties with the United States or whose currencies are pegged to us dollar [3]. First of all, the imperfect international monetary system with the US dollar as the pillar, no matter adopting the floating exchange rate policy or the fixed exchange rate policy, the US economy affects all the countries closely related to its economy and the change of their currency value. If the floating exchange rate policy can comply with the discipline of monetary policy making under the monetary system, then there will not be unstable speculative attacks on the world financial market, and there will not be the resulting currency market turbulence or even financial crisis. Due to the contradiction between the autonomy of monetary policy making and the relevance of economic globalization, the current monetary system can not guarantee the discipline of the US dollar under the premise of floating exchange rate. Therefore, a country's macro policy will lead to the currency market turbulence of economically related countries, and the financial crisis will break out under the catalysis of speculative capital. As far as the current situation is concerned, although the Bretton Woods system has collapsed, compared with the emerging market countries and developing countries, the appreciation or depreciation of the US dollar will still cause strong economic fluctuations in these countries. When the U.S. economy is prosperous, the appreciation of the U.S. dollar will lead to the outflow of capital; When the U.S. economy is depressed, the depreciation of the U.S. dollar will lead to inflation in these countries
from the above analysis, we can see that the current international monetary system retains the ideas and principles of the original international monetary system, but it has lost the original order and discipline. Strong economies can use this system to pass on the financial crisis and obtain more profits, without having to bear too much responsibility< Third, the attack of international hot money
international economic imbalance is the precondition of the financial crisis. The imperfect international monetary system will aggravate the international economic imbalance, but the initiator of the financial crisis is international hot money. After the collapse of the Bretton Woods system, the financial crisis cannot be separated from the attack of international hot money. During the 1992 European financial crisis, Soros obtained a 1:20 loan by way of margin. In a short period of one month, he sold short the equivalent of 7 billion US dollars in pounds and bought the equivalent of 6 billion US dollars in marks, forcing the pound to depreciate sharply and making a net profit of 1.5 billion US dollars after repaying the loan. Before the financial crisis in Mexico in 1994, a large number of international hot money continued to enter the Mexican securities market. Among the foreign capital absorbed by Mexico, securities investment accounted for 70% ～ 80%. However, in more than 40 days after the assassination of the Mexican presidential candidate, foreign capital withdrew US $10 billion, which directly led to the outbreak of the Mexican financial crisis [5]. The Southeast Asian financial crisis in 1997 was also the first time for international hot money to attack the Thai baht, buy low and sell high, and skillfully use financial derivatives to obtain high returns
according to the IMF's statistics on international hot money, the international short-term capital in the early 1980s was US $3 trillion, which increased to US $7.2 trillion by the end of 1997, equivalent to 20% of the world's GDP that year. At the end of 2006, the total assets managed by global hedge funds alone reached US $1.43 trillion, an increase of about six times over the end of 1996. The investment strategies of hedge funds are also constantly enriched, from the initial "short selling + leverage" strategy (market neutral Fund), to single strategy (including arbitrage, direction, event driven, etc.), Multi Strategy (including emerging markets, mergers and acquisitions, etc.), fund of funds and other investment strategies. Its risk characteristics also show a trend of diversification, including high-risk, high-yield macro hedge funds and low-risk but relatively high-yield macro hedge funds
[Abstract] under the background of economic globalization, international economic imbalance will lead to the reallocation of international capital on a global scale. In a sense, the international economic imbalance and the defects of the international monetary system are the preconditions for the outbreak of the financial crisis, while the attack of the international hot money is the precondition for the outbreak of the financial crisis. From the current international situation and China's domestic situation, the prerequisite for the financial crisis has been met, so to prevent the attack of international hot money is the primary goal of formulating the current macroeconomic policy of our country<
[Key words] financial crisis, international economy, international monetary system, international hot money
whether the financial crisis is caused by external factors or internal factors, there have always been two opposite views in the academic circles: conspiracy theory and law theory. Conspiracy theory holds that the financial crisis is caused by premeditated and planned attacks on the economy, and is caused by external factors, especially after the financial crisis in Southeast Asia. According to the law theory, the financial crisis is the law of the economy itself, which is caused by internal factors. The theory of three generations of financial crisis is basically the theory of law of recognition. With the improvement of financial supervision technology, the possibility of a country's financial crisis caused by regulatory or regulatory problems becomes smaller; With the increasing trend of economic globalization, the modern financial crisis basically shows that under the condition of international economic imbalance, international capital, driven by interests, uses the distorted national monetary system to lead to the outbreak of regional financial crisis. Therefore, in essence, the nature and causes of the financial crisis have changed. Based on the existing research, this paper analyzes the causes of the financial crisis from the perspective of international economy< First, international economic imbalance
Huang Xiaolong (2007) [1] believes that international balance of payments imbalance leads to the imbalance of the international monetary system, and virtual economy leads to excess liquidity, which in turn leads to global economic imbalance and financial crisis. Huang Xiaolong studied the financial crisis from external factors. However, fundamentally speaking, the root of global economic imbalance should be the imbalance of the real economy. The imbalance of international payments is just the appearance of the imbalance of the real economy. The imbalance of the real economy leads to the international flow of monetary capital, and the flow of international capital leads to the expansion and depression of the virtual economy, which leads to the shortage of liquidity, It can eventually lead to a financial crisis. Therefore, the imbalance of the global real economy is the necessary condition for the financial crisis, while the liquidity shortage caused by the virtual economy is the sufficient condition for the financial crisis
throughout the history of financial crisis, financial crisis is always accompanied by regional or global economic imbalances. Before the outbreak of the financial crisis in 1929, great changes had taken place in the international economic structure. Britain's world hegemony graally tilted to the United States and Europe. In particular, the rapid economic growth of the United States showed a trend to replace Britain's hegemony. This international economic imbalance laid a curse for the subsequent financial crisis. At the end of the 20th century, the trend of regional economic integration is faster than the trend of economic globalization. The economic relevance between Latin American countries and the United States makes the "Butterfly Effect" of Latin American countries on American economy stronger than other countries. In the last 20 years of the 20th century, when the economic structure of Latin America was unbalanced, it was often manifested as the financial crisis of Latin American countries. The imbalance of economic structure in Europe, the United States and Japan is also the source of financial crisis in Europe, the United States and Japan. When the stable regional or global economic structure is broken, the new economic balance is often driven by the financial crisis. The European financial crisis in 1992 originated from the rapid development of German economy after the reunification of Germany, which broke the economic balance between Germany and the United States and between Germany and other European countries. In 1990, Japan achieved a new economic balance because of the financial crisis after the economic balance between the United States and Japan was broken
regional or global economic imbalance will lead to the reallocation of international capital in a certain range. In the context of regional economic integration and economic globalization, the influence of a country's macro policy may be regional or global. In the short run, the international economy is relatively balanced at a certain point, and the total amount of global capital and demand is certain. When a country's economy changes, it will cause corresponding changes in international capital and demand in different countries. If it is a small country's economy, its impact is only regional. If it is a big country, its impact is global. When the economy of a big country becomes stronger, it will attract international capital into the country, resulting in the capital outflow of other countries. When the capital outflow reaches a certain extent, there will be a shortage of liquidity, and the financial crisis will change from possibility to necessity. The signal of this change is the high interest rate policy of big countries, or the strong monetary policy of big countries. For the small country economy, when the economy becomes stronger, it will attract the inflow of international capital. When the amount of international capital flows into the country, the real economy of the country will absorb the saturation of international capital, and the international capital will merge with the virtual economy of the country to promote the bubble of the economy. When the virtual economy and the real economy deviate seriously, international capital will soon withdraw. As a result, the financial crisis broke out
from the formation path of the financial crisis caused by the international economic imbalance, we can see that the international economic imbalance is manifested through the balance of payments, and the adjustment of the balance of payments imbalance is carried out through the international monetary system. If there is a perfect and effective international monetary system, then the mandatory and destructive adjustment of the international economy can be completely avoided, that is, the occurrence of the financial crisis can be avoided, However, the real international monetary system is manipulated by big powers, so the international economic imbalance will be further distorted and enlarged< Second, the distortion of the international monetary system. Xu Mingqi (1999) [2] holds that, on the one hand, the international monetary system is characterized by weakening order and hovering between reform and maintaining the status quo; On the other hand, developing countries are in a weak position in international trade, investment and debt; The developing countries under the double constraints have to swallow the bitter fruit of the financial crisis again and again, so the inherent defects of the existing international monetary system can not escape its blame. That is to say, the international monetary system follows the basic principles and concepts of the Bretton Woods system in mediating the imbalance of international payments, while countries lose the original order and discipline in formulating monetary policies to coordinate international economic imbalances. Therefore, the current international economic imbalances are magnified and intensified by the current international monetary system
after the collapse of the Bretton Woods system, the existing international monetary system is a loose international monetary system. Although the role of euro and yen in the international monetary system is graally increasing, the diversification of reserve currency can not effectively solve the "Triffin problem", but only decentralize the contradiction, that is to say, the identity of reserve currency is not only a national currency but also an international currency. It is bound to be in contradiction with the requirements of the world economy or regional economy for the reserve currency countries to formulate macroeconomic policies according to the domestic macroeconomic conditions, which will lead to the instability of the foreign exchange market and the turbulence of the financial market. A country that is linked to or pegged to a certain reserve currency is not only affected by the monetary policy of the reserve currency country, but also by the cross effect of monetary policies among many countries. The changes of exchange rate and interest rate between reserve currencies have a greater impact on developing countries, making the foreign exchange market more unstable and turbulent. This impact can be divided into regional and global. In view of the special status of the US dollar, the impact of US economic policy changes may be regional or global
take the US dollar as an example, the adjustment of US dollar value is realized through the adjustment of US dollar interest rate. When setting US dollar interest rates, the Federal Reserve can not take into account the macroeconomic conditions of countries (regions) pegged to us dollar or using US dollar as reserves. Therefore, when US dollar interest rates are adjusted, it will often have an impact on other economies, especially those countries and regions that have close economic ties with the United States or whose currencies are pegged to us dollar [3]. First of all, the imperfect international monetary system with the US dollar as the pillar, no matter adopting the floating exchange rate policy or the fixed exchange rate policy, the US economy affects all the countries closely related to its economy and the change of their currency value. If the floating exchange rate policy can comply with the discipline of monetary policy making under the monetary system, then there will not be unstable speculative attacks on the world financial market, and there will not be the resulting currency market turbulence or even financial crisis. Due to the contradiction between the autonomy of monetary policy making and the relevance of economic globalization, the current monetary system can not guarantee the discipline of the US dollar under the premise of floating exchange rate. Therefore, a country's macro policy will lead to the currency market turbulence of economically related countries, and the financial crisis will break out under the catalysis of speculative capital. As far as the current situation is concerned, although the Bretton Woods system has collapsed, compared with the emerging market countries and developing countries, the appreciation or depreciation of the US dollar will still cause strong economic fluctuations in these countries. When the U.S. economy is prosperous, the appreciation of the U.S. dollar will lead to the outflow of capital; When the U.S. economy is depressed, the depreciation of the U.S. dollar will lead to inflation in these countries
from the above analysis, we can see that the current international monetary system retains the ideas and principles of the original international monetary system, but it has lost the original order and discipline. Strong economies can use this system to pass on the financial crisis and obtain more profits, without having to bear too much responsibility< Third, the attack of international hot money
international economic imbalance is the precondition of the financial crisis. The imperfect international monetary system will aggravate the international economic imbalance, but the initiator of the financial crisis is international hot money. After the collapse of the Bretton Woods system, the financial crisis cannot be separated from the attack of international hot money. During the 1992 European financial crisis, Soros obtained a 1:20 loan by way of margin. In a short period of one month, he sold short the equivalent of 7 billion US dollars in pounds and bought the equivalent of 6 billion US dollars in marks, forcing the pound to depreciate sharply and making a net profit of 1.5 billion US dollars after repaying the loan. Before the financial crisis in Mexico in 1994, a large number of international hot money continued to enter the Mexican securities market. Among the foreign capital absorbed by Mexico, securities investment accounted for 70% ～ 80%. However, in more than 40 days after the assassination of the Mexican presidential candidate, foreign capital withdrew US $10 billion, which directly led to the outbreak of the Mexican financial crisis [5]. The Southeast Asian financial crisis in 1997 was also the first time for international hot money to attack the Thai baht, buy low and sell high, and skillfully use financial derivatives to obtain high returns
according to the IMF's statistics on international hot money, the international short-term capital in the early 1980s was US $3 trillion, which increased to US $7.2 trillion by the end of 1997, equivalent to 20% of the world's GDP that year. At the end of 2006, the total assets managed by global hedge funds alone reached US $1.43 trillion, an increase of about six times over the end of 1996. The investment strategies of hedge funds are also constantly enriched, from the initial "short selling + leverage" strategy (market neutral Fund), to single strategy (including arbitrage, direction, event driven, etc.), Multi Strategy (including emerging markets, mergers and acquisitions, etc.), fund of funds and other investment strategies. Its risk characteristics also show a trend of diversification, including high-risk, high-yield macro hedge funds and low-risk but relatively high-yield macro hedge funds
2.
Method 1: Join Yuesao company
join Yuesao company, the most important is the medical and health care institutions. Because the medical and health institutions are generally directly related to the hospital business, and the employers are generally in the hospital. In order to consider the future maternal and child care work, choosing the talents recommended by the hospital is the first choice. Therefore, it is the right choice to join the health care organization
method 2: join a home economics company and choose some more formal domestic service companies. The selection of home economics center should examine its professional qualification to ensure the professional qualification of its personnel. Working in these companies doesn't require a higher diploma, as does a health care provider
it is very common to train Yuesao through professional system in Yuesao training center to realize the ability of senior sister-in-law. In real life, many women who are engaged in health work take up their posts through the compulsory training of short-term health care and neonatal health care
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extended data:
precautions:
when signing the service contract led by the housekeeping center, Yuesao should write down the specific service content, charging standard, breach of contract or accident liability; Please ask for the official invoice when making payment. And I want to know that every month my sister-in-law has her own resume, including ID card, health card, sister-in-law certificate, work experience, photos and other documents
In general, I personally believe that nannies must be healthy, caring, patient, have the skills and experience of taking care of children after childbirth, have a certain level of knowledge and the ability to accept new knowledge3. Mining to 375. LM in glory castle, BL in Salma, it seems that
if they don't have any, they have to learn drawing
if they don't have any, they have to learn drawing
4. The core frequency of ASUS Rog Strix geforce rtx2070 o8g gaming graphics card is 1845mhz. Gigabyte rtx20708g carving adopts the GPU core of tu106-400a-a1, with a maximum frequency of 1815mhz. Therefore, the most important thing for the two graphics cards is that the core frequency reflects the performance, so they are almost the same. They are both composed of multiple heat pipes and three fans, and the price is the same, The core frequency of ASUS is a little higher,
5. 6pin provides a maximum output of 75W, but 6 + 2pin is 8pin, which is 150W. With such a large power supply, you can take 4-way graphics card to exchange fire, with a 2080ti single card without pressure
the adoption rate of my grade is reliable.
the adoption rate of my grade is reliable.
6. If you match it, you can win it for 2700 yuan. If you sell it for 2 hands, you can win it for 2000 yuan
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9. Sanxiang Road, Suzhou city. Take the bus to Sanxiang park
opposite is the intersection of Laodong. Sanxiang road and Changxu Road West of the junction, very easy to find.
opposite is the intersection of Laodong. Sanxiang road and Changxu Road West of the junction, very easy to find.
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