1. American financial crisis

From the Wall Street storm caused by the American subprime mortgage crisis, it has evolved into a global financial crisis. The rapid development, large quantity and great influence of this process can be said to be unexpected.

Generally speaking, it can be divided into three stages: first, the debt crisis, the problems caused by the failure of borrowers to repay the principal and interest on time. The second stage is the crisis of liquidity.

Due to the debt crisis of these financial institutions, some relevant financial institutions can't have enough liquidity in time to meet the creditor's demand for liquidation. The third stage is the credit crisis. That is to say, people have doubts about financial activities based on credit, resulting in such a crisis.

2. Hong Kong's financial defense

At the beginning of Hong Kong's return to China in p>1997, the Asian financial crisis broke out. From mid-July to August, 1998, international financial speculators attacked the Hong Kong dollar three times and took actions simultaneously in the foreign exchange market, the stock market and the futures market. They used financial futures to buy Hong Kong dollars with three-month or six-month Hong Kong dollar futures contracts, and then quickly sold them short, causing the interest rate of Hong Kong dollars to rise sharply and the Hang Seng Index to plummet, from which they made huge profits.

3. International financial crisis

Financial crisis caused by external factors and international contagion of financial crisis are not recent phenomena. In 1873, the economic prosperity of Germany and Austria attracted capital to stay at home, and foreign credit suddenly stopped, which led to difficulties in the operation of American Jay Cook Company.

In p>189, Bahrain Brothers Investment Bank in London had a payment crisis against Argentine creditor's rights. In addition, in October of that year, a financial crisis occurred in new york, and a series of enterprises in London closed down. Bahrain Bank almost closed down in November of that year, only with the help of a syndicated guarantee fund led by William Lidderdale, governor of the Bank of England.

Britain's loans to South Africa, Australia, the United States and other Latin American countries fell sharply because of this, which caused the economic crisis of these countries and regions to last until 1893.

4. Asian financial crisis

In June p>1997, a financial crisis broke out in Asia, and its development process was very complicated. By the end of 1998, it can be roughly divided into three stages: June to December 1997; January 1998 to July 1998; July 1998 to the end of the year.

the financial crisis broke out in p>1997 for many reasons, which Chinese scholars generally think can be divided into direct trigger factors, internal basic factors and world economic factors.

5. Global financial crisis

The global financial crisis of p>27-28

, also known as financial tsunami, credit crisis and Wall Street tsunami, was a financial crisis that began to emerge on August 9, 27. Since the subprime mortgage crisis broke out, investors began to lose confidence in the value of mortgage securities, which triggered a liquidity crisis.

even if many central banks injected huge amounts of money into the financial market for many times, they could not stop the outbreak of this financial crisis. Until 28, the financial crisis began to get out of control, which led to the closure or takeover of many large financial institutions by the government.

Baidu Encyclopedia Financial Crisis