cheap fashion jewelry wholesale in los angeles The impact of the financial crisis on the world economy

wholesale fashion jewelry sold by the dozen The financial crisis started in the United States, but due to the special status and influence of the US dollar, it quickly affected the entire world and caused a huge impact on the world economy. Based on the views of all parties, it is mainly manifested in:
(1) Financial institutions are facing serious operating crises and credit crisis
After the financial crisis, whether in the United States and other countries in the world, the financial market is chaotic. Over -investment and lending, a large number of financial derivative products were launched out of control, which caused banks to form a large number of non -performing assets, resulting in a broken capital chain of financial institutions and unable to operate normally. All the five major investment banks in the United States have disappeared, especially the 150 -year -old Lehman Brothers Investment Company's bankruptcy has caused huge losses for banks and investors in various countries in the world. Financial institutions are facing serious business crises and credit crises.
(2) Disagreement of the world currency system, huge fluctuations in currency exchange rates in various countries
In after the financial crisis, the currency exchange rate fluctuations have fluctuated violently, which has a significant impact on international operations and foreign exchange exchange.
Although the US dollar has performed strongly in the recent financial crisis, according to analysis, in order to alleviate the economic downturn, the United States may stimulate the economy by increasing currency issuance and reducing interest rates. The US dollar may stop appreciation at any time and depreciate. Therefore, the result of the two factors will inevitably increase the fluctuation rate and risk of the currency exchange rate of the US dollar and other countries.
(3) The crisis in some countries in some countries, and the state economy is on the verge of bankruptcy
After the financial crisis, some countries have a serious impact due to high foreign exchange and insufficient foreign exchange reserves.
In Iceland, the national economy is on the verge of bankruptcy and has to urgently ask for help from the International Monetary Fund and Russia.
P others such as Poland, Hungary, Ukraine, Kazakh, Pakistan, and Argentina are also on the verge of bankruptcy; some Western banks that make real estate bubbles in Eastern European countries will also go bankrupt.
In order to respond to the financial crisis, governments of various countries had to bet or return to state -owned in large quantities of capital, but it is still difficult to avoid the closure of a large number of financial institutions and the economic recession.
(4) The world economy will enter a long -term decline
With the integration of the world economy, the problem of financial systems has penetrated into the world economic system. Affected by the financial crisis, the world economy will inevitably face a long -term decline. It is mainly reflected in:
1. Orders and consumption have dropped sharply, and many economic entities are facing operating difficulties. The large enterprise groups represented by the three major American automobile giants and the world's largest flower -period banks are on the verge of bankruptcy. Tens of thousands of companies around the world have reduced production, price reduction or closure, and the world economy has a depression. The impact of the financial turmoil has really been hitting the merchant, deeply affecting the future trend of the world economy.
2. The layoffs intensified, and the unemployment rate rose sharply.
The latest economic figures in the United States show that in September, nearly 160,000 corporate layoffs, an unemployment rate of 6.1%, the highest point since the 2001 "911" terrorist attack; the financial industry, manufacturing, construction industry and many service industries The number of employees has generally declined, and the number of unemployed in Wall Street's financial industry may be as high as 40,000.
In August, the UK was unemployed at 32,500 people, with a total of 1.72 million unemployed, a ratio of 5.5%, the highest level since 1992.
If according to the forecast of economic cooperation and development organizations and international labor organizations, affected by factors such as the slowdown of the world economic growth, the number of global unemployed in 2009 will reach 210 million records.
3. The stock markets around the world have plummeted.
Since the financial crisis occurs, the stock markets around the world have plummeted, most of which have fallen in between 40-70%, bringing about $ 3 billion in losses to investors in the world. People's capital property has suffered huge losses, which will seriously affect people's expected consumption.
4. The price of raw materials fell sharply.
It because the consumption expectations of countries around the world have declined sharply, the demand for raw materials and imports of various products will be greatly reduced, and the price of raw materials has generally fallen hugely. The price of crude oil has dropped from $ 147 a few months ago to about 50 US dollars. Most of the prices of various raw materials such as non -ferrous metals, steel, and coal fell 40-60%, which will have a huge impact on the world economy.

western jewelry wholesale suppliers The financial crisis will temporarily turn the world economy into the trough period.