The Sino - U.S. Financial Policy Research Under the Financial Globalization – Focus on 2008 Financial Crisis

• Main Authors: I- Fang Wu, 吳懿芳
• Other Authors: 郭建中
• Format: Others
• Language: zh-TW
• Published: 2015
• Online Access: http://ndltd.ncl.edu.tw/handle/b8c62e

碩士 === 淡江大學 === 中國大陸研究所碩士班 === 103 === The globalization is not a choice but a reality. This is not just an appearance, a trend. What’s more, it replaces the system built in cold war. The financial globalization is the highest level appearance of the economic globalization and a part of the globalization. My motivation for researching the financial globalization is because of the global financial crisis triggered by the U.S. subprime mortgage crisis. This crisis turned out becoming the global financial crisis affecting whole world investing environment, the stability of financial system, domestic economic growth, and employment no matter emerging power- China or Taiwan. What is the main reason for this global financial shark? The financial globalization effect is the key point. There are three main research purposes as following, First of all, thesis focuses on Sino-U.S. financial policies transition. Because of the global financial crisis, the U.S. transformed from neo-liberalism economics to keynesian economics. The U.S. adopted quantitative easing policy with great power and took steps to end the QE. The government also established better financial oversight and management. The mainland China economy was hurt by this crisis. China held this crisis as its speed-up reformation. China also changes its developing path to domestic demand not just depends on outsourcing anymore. Secondly, the financial globalization has great effect on nation’s financial policy and both exist feedback phenomenon.The Subprime mortgage loan crisis resulted from the financial globalization and became the international nightmare. The great United States is too big to fall so the fed took the QE. This monetary policy hurt the whole world because of financial globalization. Other countries all took the saving economy policy from monetary to financial .The mainland China also spent 4 trillion for saving market. And China also spent more effort on establishing China’s financial oversight institution while its reformation. The last part is the introspection of the globalization effect. The 2008 financial crisis give us a cruel lesson. The spill-over influence of the U.S. subprime mortgage problem spread to whole world. This phenomenon appeared negative part of the globalization. The globalization not just shortens distance and time and cheaper global industry division also increases disparity between the rich and the poor and the difference of the regions.