Sub-prime lending crisis has become an international fi nancial crisis, which is evolving into an economic recession sweeping across the West. Financial crisis leads to the demand reduction in western countries, and a...Sub-prime lending crisis has become an international fi nancial crisis, which is evolving into an economic recession sweeping across the West. Financial crisis leads to the demand reduction in western countries, and as the largest manufacturing country, China must face overproduction. The role of China as "world factory" determines that fi nancial crisis will severely attack Chinese manufacturing industry. The unsustainable development of Chinese manufacturing industry is mainly reflected in the following aspects: heavy dependence on export, low-level manufacturing link, lack of modern service industry and high-tech industry, weak independent innovative ability, unsustainable exploration of heavy-pollution resources, and lack of international famous brands. How to transform crisis to opportunities is an urgent research topic. Under the circumstance of financial crisis, Chinese manufacturing industry has more external drives to change the current situation. Therefore, financial crisis becomes not only an opportunity for Chinese manufacturing industry to improve itself based on the existing accumulation but also a chance for China to transform from "world factory" into a powerful nation of manufacturing industry in the world.展开更多
During the financial crisis, the delayed recognition of credit losses on loans and other financial instruments was identified as a weakness in existing incurred loss model of impairment stated by International Account...During the financial crisis, the delayed recognition of credit losses on loans and other financial instruments was identified as a weakness in existing incurred loss model of impairment stated by International Accounting Standards （IAS） 39, because it is believed that this delay might generate pro-cyclical effects. In response to the recommendations of G20, Financial Crisis Advisory Group （FCAG）, and other international bodies, the International Accounting Standards Board （IASB） has undertaken, since 2009, as a part of the project to replace IAS 39, a project （partially shared with Financial Accounting Standards Board （FASB）） aimed at introducing an expected loss model of impairment. Within the scope of this subset project, the IASB has previously issued two exposure documents proposing models to account for expected credit losses： an exposure draft （ED） Financial Instrument： Amortized Cost and Impairment, published in November 2009, and a supplementary document （SD） Financial Instrument： Impairment, published jointly with the FASB in January 2011. However, neither of the two proposals received strong support from interested parties. Recently, the IASB, after the FASB＇s decision to withdraw from the joint project and to develop a separate expected credit loss model based on a single measurement approach consisting in the sole recognition of lifetime expected credit losses, published a third proposal--Ahe so-called expected credit losses model （ED/2013/3 Financial Instruments： Expected Credit Losses）.展开更多
The year 2016 marked the 25th anniversary of the end of the Cold War and the 15th anniversary of the 9/11 attack. Though international relations are constantly adjusted, the world is by no means more stable and orderl...The year 2016 marked the 25th anniversary of the end of the Cold War and the 15th anniversary of the 9/11 attack. Though international relations are constantly adjusted, the world is by no means more stable and orderly. International order reshaping triggered by the 2008 financial crisis is deepening, with chaos of various kinds popping up here and there. In the sociopolitical field, the"Trump phenomenon"and Brexit indicate serious weakening of the authority of traditional political systems and elites. In major country relations and international security, the world is witnessing the rise of emerging countries and the and fall of the West, fiercer US-Russia and Sino-US wrestling of strategic significance, and greater global and regional security risks. In global governance, while adjustment of UN-centered global governance is laboring along, national rivalries touch core issues, making global governance more urgent.展开更多
Through the analysis on China＇s economic develop- ment, utilization of resource environment and soft power, a basic judgment was made of the influence of ＂China development＂. The overall influential power of China ...Through the analysis on China＇s economic develop- ment, utilization of resource environment and soft power, a basic judgment was made of the influence of ＂China development＂. The overall influential power of China development on international community was misunderstood. What we see is the role of ＂China Factor＂ in different fields. In the process of economic globalization, what economic system of capitalist market has seen is ＂China＇s cheap labor＂, ＂China＇s loose economic system environment＂, ＂earlier abuse of unlimited resource environment＂, ＂China＇s broad consumption market＂ and ＂demographic dividend＂. In global or Asian financial crisis, what other countries valued was China＇s ＂foreign currency＂ accumulated over the years. In global gov- ernance or crisis management, what international community expected was ＂China＇s obligations and responsibilities＂ without the right of speech, etc.. All these are the ＂passive＂ roles produced by ＂a single factor＂ in definite fields. The active and initiative role China will play in international community still needs time and the continuous efforts of several generations. China once was a big country that had significant inftuential power on the world, and China＇s renaissance is a normal process of development of things. What excessive talks about its influential power reflect may be the lack of China＇s influence.展开更多
This paper＇s objective is to examine the relationship between public and private sectors through the mechanisms of public intervention in the market. With the financial and economic crisis of 2008, there has been a c...This paper＇s objective is to examine the relationship between public and private sectors through the mechanisms of public intervention in the market. With the financial and economic crisis of 2008, there has been a coordination of states （G20） for the implementation of affirmative action in order to support the international financial system. Our hypothesis is that resource dependence is the basis of all interactions between the public and private sectors. The fact that the public sector bails out private sector activity shows that it is beneficial to citizens through employment and taxes repaid by the company and all this contributes to social stability. Here we develop an argument in two phases. The first is to revisit the question of the relationship between the state and the market. The second part develops the hypothesis by focusing on the interdependence of resources. The theory of resource dependence often applied to international relations and inter-organizational business has allowed us to highlight the correlation between public and private sectors展开更多
Dear Colleagues, It is my great pleasure to join you here in Osaka. Ten years after the 2008 international financial crisis, the global economy has again reached a crossroads. Protectionism and unilateralism are sprea...Dear Colleagues, It is my great pleasure to join you here in Osaka. Ten years after the 2008 international financial crisis, the global economy has again reached a crossroads. Protectionism and unilateralism are spreading, and trade and investment tensions are on the rise, bringing disruptions to the global industry landscape and financial stability. The world economy is confronting more risks and uncertainties, dampening the confidence of international investors.展开更多
There exist dual features of internationalization and regionalization in the current international monetary system, and the U.S. dollar is still in a dominant position in the system. A lack of relevant institutional c...There exist dual features of internationalization and regionalization in the current international monetary system, and the U.S. dollar is still in a dominant position in the system. A lack of relevant institutional constraints has led to institutional deficiencies and systematic risks in the international monetary system, and resulted in the frequent financial crises in the world in recent years. As an emerging economy closely related to the current international monetary system, China has responsibilities and obligations to participate actively in international monetary system reform and push forward international monetary system reform through institutional supply.展开更多
文摘Sub-prime lending crisis has become an international fi nancial crisis, which is evolving into an economic recession sweeping across the West. Financial crisis leads to the demand reduction in western countries, and as the largest manufacturing country, China must face overproduction. The role of China as "world factory" determines that fi nancial crisis will severely attack Chinese manufacturing industry. The unsustainable development of Chinese manufacturing industry is mainly reflected in the following aspects: heavy dependence on export, low-level manufacturing link, lack of modern service industry and high-tech industry, weak independent innovative ability, unsustainable exploration of heavy-pollution resources, and lack of international famous brands. How to transform crisis to opportunities is an urgent research topic. Under the circumstance of financial crisis, Chinese manufacturing industry has more external drives to change the current situation. Therefore, financial crisis becomes not only an opportunity for Chinese manufacturing industry to improve itself based on the existing accumulation but also a chance for China to transform from "world factory" into a powerful nation of manufacturing industry in the world.
文摘During the financial crisis, the delayed recognition of credit losses on loans and other financial instruments was identified as a weakness in existing incurred loss model of impairment stated by International Accounting Standards （IAS） 39, because it is believed that this delay might generate pro-cyclical effects. In response to the recommendations of G20, Financial Crisis Advisory Group （FCAG）, and other international bodies, the International Accounting Standards Board （IASB） has undertaken, since 2009, as a part of the project to replace IAS 39, a project （partially shared with Financial Accounting Standards Board （FASB）） aimed at introducing an expected loss model of impairment. Within the scope of this subset project, the IASB has previously issued two exposure documents proposing models to account for expected credit losses： an exposure draft （ED） Financial Instrument： Amortized Cost and Impairment, published in November 2009, and a supplementary document （SD） Financial Instrument： Impairment, published jointly with the FASB in January 2011. However, neither of the two proposals received strong support from interested parties. Recently, the IASB, after the FASB＇s decision to withdraw from the joint project and to develop a separate expected credit loss model based on a single measurement approach consisting in the sole recognition of lifetime expected credit losses, published a third proposal--Ahe so-called expected credit losses model （ED/2013/3 Financial Instruments： Expected Credit Losses）.
文摘The year 2016 marked the 25th anniversary of the end of the Cold War and the 15th anniversary of the 9/11 attack. Though international relations are constantly adjusted, the world is by no means more stable and orderly. International order reshaping triggered by the 2008 financial crisis is deepening, with chaos of various kinds popping up here and there. In the sociopolitical field, the"Trump phenomenon"and Brexit indicate serious weakening of the authority of traditional political systems and elites. In major country relations and international security, the world is witnessing the rise of emerging countries and the and fall of the West, fiercer US-Russia and Sino-US wrestling of strategic significance, and greater global and regional security risks. In global governance, while adjustment of UN-centered global governance is laboring along, national rivalries touch core issues, making global governance more urgent.
文摘Through the analysis on China＇s economic develop- ment, utilization of resource environment and soft power, a basic judgment was made of the influence of ＂China development＂. The overall influential power of China development on international community was misunderstood. What we see is the role of ＂China Factor＂ in different fields. In the process of economic globalization, what economic system of capitalist market has seen is ＂China＇s cheap labor＂, ＂China＇s loose economic system environment＂, ＂earlier abuse of unlimited resource environment＂, ＂China＇s broad consumption market＂ and ＂demographic dividend＂. In global or Asian financial crisis, what other countries valued was China＇s ＂foreign currency＂ accumulated over the years. In global gov- ernance or crisis management, what international community expected was ＂China＇s obligations and responsibilities＂ without the right of speech, etc.. All these are the ＂passive＂ roles produced by ＂a single factor＂ in definite fields. The active and initiative role China will play in international community still needs time and the continuous efforts of several generations. China once was a big country that had significant inftuential power on the world, and China＇s renaissance is a normal process of development of things. What excessive talks about its influential power reflect may be the lack of China＇s influence.
文摘This paper＇s objective is to examine the relationship between public and private sectors through the mechanisms of public intervention in the market. With the financial and economic crisis of 2008, there has been a coordination of states （G20） for the implementation of affirmative action in order to support the international financial system. Our hypothesis is that resource dependence is the basis of all interactions between the public and private sectors. The fact that the public sector bails out private sector activity shows that it is beneficial to citizens through employment and taxes repaid by the company and all this contributes to social stability. Here we develop an argument in two phases. The first is to revisit the question of the relationship between the state and the market. The second part develops the hypothesis by focusing on the interdependence of resources. The theory of resource dependence often applied to international relations and inter-organizational business has allowed us to highlight the correlation between public and private sectors
文摘Dear Colleagues, It is my great pleasure to join you here in Osaka. Ten years after the 2008 international financial crisis, the global economy has again reached a crossroads. Protectionism and unilateralism are spreading, and trade and investment tensions are on the rise, bringing disruptions to the global industry landscape and financial stability. The world economy is confronting more risks and uncertainties, dampening the confidence of international investors.
文摘There exist dual features of internationalization and regionalization in the current international monetary system, and the U.S. dollar is still in a dominant position in the system. A lack of relevant institutional constraints has led to institutional deficiencies and systematic risks in the international monetary system, and resulted in the frequent financial crises in the world in recent years. As an emerging economy closely related to the current international monetary system, China has responsibilities and obligations to participate actively in international monetary system reform and push forward international monetary system reform through institutional supply.
