Study Of Financial Crisis Of The United States From Financial Ecosystem Perspective

Since early 2007, financial crisis of United States has shrunk its financial market dramatically and has brought serious injury to its real economy. As the crisis gradually spreading, it has caused a decline in China's exports, and has upgraded international trade frictions, thus increasing economic instability. Therefore, to reflect the lessons of financial crisis of United States, and to enhance crisis response is of great importance to us.Since crisis broke, many scholars have conducted various researches on the crisis, but on a lack of unified, systematic perspective. This paper first reviews the development of U.S. financial ecosystem, then reveals the crisis from a financial ecological perspective, and finally suggests the precautions that China should take under its current financial ecological conditions.This paper is divided into four parts. The first part is an introduction. This part introduces the background and research significance, and then carries out the framework based on literature review, at last puts forward the main ideas and innovation. The second part introduces financial ecosystem theory, points out the close relationship between financial ecosystem and financial stability, and recalls the development history of U.S. financial ecosystem to provide an analytical background for the next analysis. The third part is the emphasis of this article. This section first briefly describes the development process of U.S. financial crisis, and then reviews the causes of this crisis from the point of financial ecosystem elements and financial ecosystem chain, and gives the conclusion that the financial crisis is rooted in the non-equilibrium evolution of U.S. financial ecosystem. Besides, this part also analyzes the policy measures that United States has taken and their effects. On the base of the third part, the fourth part suggests the lessons that we should learn and the measures to improve our country's financial ecosystem considering the financial ecological problems in our country. The first section of this part gives the enlightenment what U.S. financial crisis and their measures have suggested to us; the second section is about the development of china's financial ecosystem and its current status; the third section shows the risks in china's financial ecosystem; and section four presents the measures to improve china's financial ecosystem and prevent the outbreak of instability.This paper proposes the viewpoint that the underlying reason of U.S. financial crisis is the disassimilation of U.S. financial ecosystem elements and the imbalance evolution of U.S. financial ecosystem chain. These two factors together lead to the accumulation of risk and serious financial imbalances, and ultimately cause the eruption of crisis. Finally, the article put forward specific improvements to address the problems in our country's financial ecosystem.