Economic Crisis
[2023-08-08 08:12:41]
The problem of the US (US) failing to pay mortgage (default of subprime mortgage) started not only in the US bubble but also in the crisis banking system and also in Europe and Asia. The domino effect, which brought the financial capacity of financial institutions in these countries, resulted in the bankruptcy of hundreds of banks, securities companies, investment trusts, pension funds and insurance companies. Later, the crisis spread to other parts of Asia, especially Japan, Korea, China, Singapore, Hong Kong, Malaysia, Thailand, and Indonesia.
"When the economic crisis began, my political and economic radar was somewhat nullified as I was busy writing a book on climate change crisis.Development, I discussed these theme themes I actually thought it was similar to the discussion topic of climate change crisis When you talk about climate change and energy crisis, you need to ask a big question How should the role of the government be? Market Perhaps these two crises are on both sides of the same coin, but how to restore the crisis, but how do you make it possible for you to play freely, how do you negotiate long-term political arrangements? The institutional barrier to that is basically the same.
Unfortunately, the second case may be more reasonable. The economic crisis actually includes a series of interrelated crises, including financial crisis, housing crisis and pension crisis. Therefore, the economic crisis will be prolonged and the possibility of serious damage will be high. Reinhardt and Rogoff conducted a historical study of the financial crisis in 2008 and found that even though the economic crisis coincided with rising house prices (as was the case in this crisis), it will continue . To increase severity
The crisis can be broadly divided into three categories: economic and financial shocks, damage to the physical environment, and threats to national security. The economic crisis includes events such as the 2008-09 financial crisis, serious or long-term recession, or certain combinations. The physical environment may experience various degrees of crisis, such as earthquakes, heavy flooding, forest fires, and industrial disasters. The national security crisis may include cyber threats or military intervention. There is no doubt that every kind of crisis will have economic impact, but let's focus on a wide range of economic and economic shocks.