The impact of financial crisis on digital currency
Publish: 2021-05-03 05:50:58
1. Generally speaking, it will make the currency devalue
because the economic crisis and financial crisis will cause people's panic and lack of investment confidence
which will lead to a vicious circle of currency liquidity trap (the more people dare not invest, the more vulnerable the market is, the more people dare not invest)
authority (the government, the market, the more vulnerable the market is) In order to get rid of the crisis, the central bank will lend or print a lot of money to create liquidity for the market and stimulate the improvement and development of the economy.
as soon as there is a flood of liquidity and a lot of money, the price of goods marked with money will definitely be raised, and the money is worthless.
therefore, generally speaking, the currency will be devalued
because the economic crisis and financial crisis will cause people's panic and lack of investment confidence
which will lead to a vicious circle of currency liquidity trap (the more people dare not invest, the more vulnerable the market is, the more people dare not invest)
authority (the government, the market, the more vulnerable the market is) In order to get rid of the crisis, the central bank will lend or print a lot of money to create liquidity for the market and stimulate the improvement and development of the economy.
as soon as there is a flood of liquidity and a lot of money, the price of goods marked with money will definitely be raised, and the money is worthless.
therefore, generally speaking, the currency will be devalued
2. When the financial crisis broke out, the factor affecting the money supply is that the supply exceeds the demand.
3.
If you are in the urban area of Chaozhou, take a passenger car to Shantou CTS passenger station. After that, you can walk to the bus
if you only get to Shantou bus terminus, you need to take bus No.30 to Shantou No.1 middle school at bus terminus or bus terminus north bus stop (please read the following notes)
(Note: as the road of Shanzhang interchange is being closed in 2017, No.30 is diverted. So you have to get off at Shantou CTS bus station (you can also take bus No.28 or 39 at this station), and then walk there (as shown in the figure above))
4. Tailored! I've read this paper too
currency crisis is a kind of financial crisis, which refers to the situation that the impact on the currency leads to the substantial depreciation of the currency or the sharp decline of international reserves. It includes the successful impact on a certain currency (that is, the substantial depreciation of the currency), It also includes an unsuccessful shock to a currency (that is, it only leads to a substantial decline in the country's international reserves but not a substantial depreciation of the currency). For each country, the degree of currency crisis can be measured by the index of foreign exchange market pressure, which is the weighted average of the monthly change rate of exchange rate (calculated by the direct pricing method) and the monthly change rate of international reserves. When the index exceeds its average by three times the mean square deviation, it is regarded as a currency crisis
or, from another popular point of view, a currency crisis is a situation in which people lose confidence in a country's currency and sell off a large amount of that country's currency, resulting in a sharp depreciation of the exchange rate of that country's currency in a short period of time. For example, the exchange rate between the Mexican peso and the US dollar in 1994 and the exchange rate between the Thai baht and the US dollar in 1997 dropped sharply, both of which are typical currency crises<
to explain how the currency crisis impacted the international financial market,
let's take a look at three examples first:
example 1: the Thai baht crisis in 1997. On the domestic side, Thailand's economy will face a series of austerity measures in the short term. Tax increase, price control, monetary contraction and other means will be used, and the reced economic growth rate will be further reced; On the international side, the Thai baht storm spread to neighboring countries such as Malaysia, Indonesia and the Philippines, where the exchange rate of stock market fell in two months. Compared with the exchange rate against the US dollar at the end of June, at the beginning of September, the Thai baht fell more than 36 (33%), the Malaysian ringgit to 2.94 (17%), the Philippine pesoda to 31.70 (20%) and the Indonesian rupiah to more than 3000 (nearly 24%). One stone hit a thousand waves, affecting all aspects of Thailand's domestic and foreign economy
in the autumn of 1992, when the benchmark exchange rate of the pound and the European exchange rate mechanism was attacked by speculation, the Italian lira was accompanied. On September 15 of the year known as "Black Wednesday", both the pound and the lira withdrew from the European exchange rate mechanism. Subsequently, the Irish pound and French franc, which remained in the European exchange rate mechanism, were attacked and the exchange rate fluctuated sharply< When the Mexican Peso devalued sharply at the end of 1994, the exchange rates of Argentina, Brazil and the Philippines in South America fluctuated strongly against the US dollar. Later, South Africa, as far away as the horn of Africa, also experienced exchange rate turbulence
conclusion: the above examples show that the contemporary international economic society rarely sees an isolated currency turmoil. One country's currency crisis often affects other countries
the spread of currency crisis in the international community is called "contagion effect"
next, let's explain how the currency crisis impacts the international financial market through the "contagion effect" and causes the financial crisis:
first, the exchange rate is always related to more than two economies. After the devaluation of a country's currency, for example, against the US dollar, the external price competitiveness of the country's goods will increase, and the competitors will be in a disadvantageous position in the international market. If the latter wants to improve its own situation, it will also cause the devaluation of its currency< Second, in the international money market, investors are analytical minded and understand the economic information of various countries; Once they see a currency crisis in a country, they will think of countries with similar macro-economic conditions and withdraw funds from these countries in case of accidents; As a result, their divestment really led to the spread of the currency crisis
thirdly, when a currency crisis occurs in a country, some institutional investors and international companies will suffer losses, or at least affect their asset liquidity; To offset this effect, they will withdraw funds from other countries' markets, that is, they will sell their local currencies in exchange for highly liquid international currencies; The result, like the second, is more money market turbulence
when the currency value of the whole region depreciates greatly, people will be more pessimistic about the future of the economy, the total economic volume and economic scale will have a greater loss, and the economic growth will be hit, which will be accompanied by a large number of business failures, rising unemployment rate, and the general economic depression, Sometimes it is accompanied by social unrest or national political unrest. This is the process that the currency crisis impacts the international financial market and leads to the financial crisis
conclusion: monetary crisis is the driving force of financial crisis
answer: letter from maple leaf - Magic apprentice level 1 10-27 10:19
currency crisis is a kind of financial crisis, which refers to the situation that the impact on the currency leads to the substantial depreciation of the currency or the sharp decline of international reserves. It includes the successful impact on a certain currency (that is, the substantial depreciation of the currency), It also includes an unsuccessful shock to a currency (that is, it only leads to a substantial decline in the country's international reserves but not a substantial depreciation of the currency). For each country, the degree of currency crisis can be measured by the index of foreign exchange market pressure, which is the weighted average of the monthly change rate of exchange rate (calculated by the direct pricing method) and the monthly change rate of international reserves. When the index exceeds its average by three times the mean square deviation, it is regarded as a currency crisis
or, from another popular point of view, a currency crisis is a situation in which people lose confidence in a country's currency and sell off a large amount of that country's currency, resulting in a sharp depreciation of the exchange rate of that country's currency in a short period of time. For example, the exchange rate between the Mexican peso and the US dollar in 1994 and the exchange rate between the Thai baht and the US dollar in 1997 dropped sharply, both of which are typical currency crises<
to explain how the currency crisis impacted the international financial market,
let's take a look at three examples first:
example 1: the Thai baht crisis in 1997. On the domestic side, Thailand's economy will face a series of austerity measures in the short term. Tax increase, price control, monetary contraction and other means will be used, and the reced economic growth rate will be further reced; On the international side, the Thai baht storm spread to neighboring countries such as Malaysia, Indonesia and the Philippines, where the exchange rate of stock market fell in two months. Compared with the exchange rate against the US dollar at the end of June, at the beginning of September, the Thai baht fell more than 36 (33%), the Malaysian ringgit to 2.94 (17%), the Philippine pesoda to 31.70 (20%) and the Indonesian rupiah to more than 3000 (nearly 24%). One stone hit a thousand waves, affecting all aspects of Thailand's domestic and foreign economy
in the autumn of 1992, when the benchmark exchange rate of the pound and the European exchange rate mechanism was attacked by speculation, the Italian lira was accompanied. On September 15 of the year known as "Black Wednesday", both the pound and the lira withdrew from the European exchange rate mechanism. Subsequently, the Irish pound and French franc, which remained in the European exchange rate mechanism, were attacked and the exchange rate fluctuated sharply< When the Mexican Peso devalued sharply at the end of 1994, the exchange rates of Argentina, Brazil and the Philippines in South America fluctuated strongly against the US dollar. Later, South Africa, as far away as the horn of Africa, also experienced exchange rate turbulence
conclusion: the above examples show that the contemporary international economic society rarely sees an isolated currency turmoil. One country's currency crisis often affects other countries
the spread of currency crisis in the international community is called "contagion effect"
next, let's explain how the currency crisis impacts the international financial market through the "contagion effect" and causes the financial crisis:
first, the exchange rate is always related to more than two economies. After the devaluation of a country's currency, for example, against the US dollar, the external price competitiveness of the country's goods will increase, and the competitors will be in a disadvantageous position in the international market. If the latter wants to improve its own situation, it will also cause the devaluation of its currency< Second, in the international money market, investors are analytical minded and understand the economic information of various countries; Once they see a currency crisis in a country, they will think of countries with similar macro-economic conditions and withdraw funds from these countries in case of accidents; As a result, their divestment really led to the spread of the currency crisis
thirdly, when a currency crisis occurs in a country, some institutional investors and international companies will suffer losses, or at least affect their asset liquidity; To offset this effect, they will withdraw funds from other countries' markets, that is, they will sell their local currencies in exchange for highly liquid international currencies; The result, like the second, is more money market turbulence
when the currency value of the whole region depreciates greatly, people will be more pessimistic about the future of the economy, the total economic volume and economic scale will have a greater loss, and the economic growth will be hit, which will be accompanied by a large number of business failures, rising unemployment rate, and the general economic depression, Sometimes it is accompanied by social unrest or national political unrest. This is the process that the currency crisis impacts the international financial market and leads to the financial crisis
conclusion: monetary crisis is the driving force of financial crisis
answer: letter from maple leaf - Magic apprentice level 1 10-27 10:19
5.
1. Because the capital account of China's balance of payments has not yet been fully opened, the scale of asset securitization is still in its infancy, and China has a large amount of foreign exchange reserves, these factors prevent China from being seriously impacted by the financial crisis
The actual loss of China's financial assets in the United States is also expected to be huge, and the specific figures need to be tested and digested in the future For example, CIC's investment losses to Damo, Blackstone and monetary funds are heavy, and the losses of subprime loans and Lehman bonds held by major banks will also be huge, which can be seen from the 90% huge investment losses of Ping An)3. Although China has not suffered from a serious financial crisis, the impact and test of the global financial crisis and economic recession on China are also severe. In the process of global economic integration and the high degree of international division of labor, China's long-term development model of using external demand to support its economy, etc., it is impossible for China to stand alone again
4. The crisis of the world's giants can not be digested by themselves. For example, the US $700 billion rescue fund will not pay all of its own bills. China is bound to become the final payer. It's just a matter of how much to pay Although China has taken a series of measures, trying to start strong domestic demand to resolve the economic impact caused by the shortage of external demand, it is too late. Can the long-term external demand driven economy be changed in the short term Moreover, China is facing the triple threat of inflation, deflation and stagflation, which is bound to make China's policy-making more difficult, and only the two powers can harm each other and take the least. However, now consumers' psychological expectations have changed. Even if interest rates are cut continuously, it is difficult to stimulate domestic demand in the short term. It is possible for economic development to slow down or even a short-term recession According to the Asian Development Bank's annual report "2008 Asian Development Outlook update" released on the 16th, China's economic growth will fall from 11.9% in 2007 to 10% in 2008; In 2009, China's economic growth will fall further to 9.5%6. As China's largest trading partner, the U.S. real economy is weak, which directly causes China's export enterprises to face a severe situation. The first instries affected are finance, securities investment, international trade, real estate, automobile and other instries. At this time, it is an important period for college graates to apply for jobs. It is difficult to predict how much impact the financial crisis will have on the employment of college students. However, it can be preliminarily judged that with the increasing spread of the impact of the financial crisis, firstly, the business of multinational companies and outsourcing companies will shrink, which will rece the number of employees and freeze the recruitment; Secondly, domestic manufacturing and export-oriented enterprises that provide parts, raw materials and semi-finished procts for foreign instries will also be affected; Of course, it will affect the downstream raw materials and energy instry. The government's rescue policy will stimulate the demand of the construction instry and promote the recovery of the raw materials and energy instry, but there is a lag time to see the effect, so the college students who are looking for jobs may not feel the effect of the policy. More than 6 million graates in 2009 need employment, and the employment situation is not optimistic. The major affected is finance and economics. Because the business of enterprises is shrinking, the demand for finance and economics management personnel is reced first, followed by the demand for technical personnel. Secondly, construction, energy, machinery and it majors will be affected
7. The route to Pingdingshan City, Henan Province is 607km
Nanjing City, Jiangsu Province
1. Enter Taiping North Road 96m North
2. Turn right 181m East
3. Turn left 138m North
4. Turn right into Beijing East Road 5.3km northeast
5. Keep right into Moxiang road 3.7km North
6. Turn right into Qixia Avenue 2.0KM East
6 />7. Keep right to enter Liutang overpass 117 meters east
8. Keep left to enter Ring Road 1.8 km north
9. Decelerate to enter Erqiao Expressway 14.3 km northwest
10. Keep right to enter Erqiao expressway exit 19.1 km west
11. Decelerate to enter nanluo Expressway 334 km west
12. Decelerate to enter jiefubeng Expressway 11.2 km west
13 Decelerate to enter the west of Jiefu Bengbu expressway for 203 km
14. Keep right to enter the exit of nanluo expressway for 0.6 km northwest
15. Decelerate to the north for 3.3 km
16. Turn left to enter beishan road for 2.2 km west
17. Turn right to enter Guangming Road for 3.0 km north
18. Turn left to enter Jianshe Road for 3.0 km west
19. Turn left to enter Jianshe Road for 239 km east M
20. Turn right to South 92m
Pingdingshan City, Henan Province
toll + high speed = less than 300 yuan, high speed small car is 0.4 yuan / km (excluding fuel money)
if you can tell me where to go from Nanjing and to Pingdingshan, I can tell you in detail
Nanjing City, Jiangsu Province
1. Enter Taiping North Road 96m North
2. Turn right 181m East
3. Turn left 138m North
4. Turn right into Beijing East Road 5.3km northeast
5. Keep right into Moxiang road 3.7km North
6. Turn right into Qixia Avenue 2.0KM East
6 />7. Keep right to enter Liutang overpass 117 meters east
8. Keep left to enter Ring Road 1.8 km north
9. Decelerate to enter Erqiao Expressway 14.3 km northwest
10. Keep right to enter Erqiao expressway exit 19.1 km west
11. Decelerate to enter nanluo Expressway 334 km west
12. Decelerate to enter jiefubeng Expressway 11.2 km west
13 Decelerate to enter the west of Jiefu Bengbu expressway for 203 km
14. Keep right to enter the exit of nanluo expressway for 0.6 km northwest
15. Decelerate to the north for 3.3 km
16. Turn left to enter beishan road for 2.2 km west
17. Turn right to enter Guangming Road for 3.0 km north
18. Turn left to enter Jianshe Road for 3.0 km west
19. Turn left to enter Jianshe Road for 239 km east M
20. Turn right to South 92m
Pingdingshan City, Henan Province
toll + high speed = less than 300 yuan, high speed small car is 0.4 yuan / km (excluding fuel money)
if you can tell me where to go from Nanjing and to Pingdingshan, I can tell you in detail
8. The fastest way is to make a luxury bus at the bus station opposite Zhengzhou railway station. The price is 52 yuan. Zheng Shi told me that there are few cars on this road, but the luxury bus doesn't stop on the way. It's very safe. It takes about two hours to get to Pingdingshan. It should be an hour. The latest one is at 7 pm. I did it.
9.
3 hours 11 minutes 264.2km 25 traffic lights
passing: Shangzhou expressway, Yongdeng Expressway
Shangqiu station
Enter Zhanqian Road, drive 50m
< P >
turn left, enter Shenhuo Avenue, drive 190m
turn right, enter Minzhu Middle Road, drive 470m
turn left, from Minzhu middle road to Kaixuan middle road, Drive 290m
straight into Kaixuan Middle Road, drive 1.8km
straight into Kaixuan South Road, drive 2.3km
turn right, enter Nanjing West Road, drive 1.1km
turn left, enter Pingyuan South Road, drive 6.1km
turn right, from Pingyuan South Road to Lianhuo expressway, Drive 240m
keep right ahead, enter Lianyungang Huozhou expressway, drive 3.2km
keep right ahead, from Lianyungang Huozhou Expressway to Shangzhou expressway, drive 410m
keep left ahead, enter Shangzhou expressway, drive 69.3km
keep right ahead, from Shangzhou Expressway to Yongdeng expressway, drive 520m
keep right ahead, Enter Yongdeng expressway, drive 109.4km
keep ahead left, enter Xuguang expressway, drive 47.8km
keep ahead right, enter Jianshe Road, drive 11.8km
turn left, enter Kaifa Road, drive 1.4km
turn right, enter Shenma Avenue, drive 5.9km
turn right, enter Xinhua Road, Drive 180m
turn left, enter the South Ring Road, drive 1.7km
Pingdingshan station
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