Crisis Awareness and Financial Reform

Author: Xu Dianqing
Publisher:
Publish Date: 2003-09-01
Features: The ultimate goal of studying crisis awareness is to prevent financial crises. This topic is highly sensitive. However, after China's entry into the WTO, whether we like it or not, we must face external financial challenges. Establishing crisis awareness, breaking monopolies, and improving competitiveness are the top priorities of our financial reforms. It is hoped that this book can contribute to raising awareness of financial crises. The ultimate goal of studying crisis awareness is to prevent financial crises. From the very beginning of the book, the immense harm of financial crises is highlighted to awaken crisis awareness and promote financial reform. After analyzing the significant impact of China's entry into the WTO on its finance and summarizing China's successful experience in avoiding the Asian financial crisis, the author proposes the view of opening private banks to prevent financial crises. Then, the author further analyzes the financial crises that occurred in Russia, Thailand, Malaysia, Indonesia, and South Korea, finding that a lack of crisis awareness beforehand led to inappropriate measures when facing the crisis, exacerbating the already severe financial crises.