| In 2008, the United States sub-prime mortgage crisis has caused the fuse of the global financial crisis huge losses, not only for the United States and the European Union and other developed countries, financial markets, but also for the emerging market economies. Increasing integration into the world economy, Russia has not been spared. As long as China, Russia belongs to the transition economy but has a completely different experience. Russia in the 20th century and the early 90s by the impact of the Washington Consensus, adopted a shock therapy to implement political and economic restructuring, opening up and liberalization of financial systems in parallel, resulting in its banking system, small-scale quantity, the capital adequacy ratio is inadequate; Capital Market the high degree of openness has been the leading foreign investors, with the international market linkage between them is obvious. To this end, Russia's financial sector in this global financial crisis, the first to suffer a positive blow to the performance of tight liquidity for the banking sector, the stock market crash, corporate debt burden and so on. Especially when world oil prices as the crisis led to a decline in demand for the decline, the Russian resource-dependent growth model accepted in this crisis a severe test, making it the industrial structure and economic growth driving mechanism is also facing forced to adjust.For changing from planned to market economy country, no matter what kind of transformation methods being used, global financial crisis, there is always a challenge for them. China and Russia are "BRIC" countries in transition, but also the two big neighboring countries, faced with this crisis, whether the joint mutual help minimize risks and losses in the same time, assess the situation for themselves in the international economic order Reconstruction get more right to speak, is the need to consider carefully. The global financial crisis 2008 heavily rely on resource exports, the Russian economy a devastating blow to learn from the lessons of this financial crisis to seize the opportunity to adjust our economic policy out of the crisis as soon as possible trouble to restart the recovery process, the Russian the most urgent task of national development strategies and the central objective. Russia is one of the main victims of the world financial crisis, it's economic victimization broad range, to be at risk of deep, heavy and in all countries is rare. Therefore, the correct measure of the Russian economy a heavy blow and to analyze the causes of the rapid economic recovery of the Russian policy recommendations has become an urgent important work.Full-text surrounding the 2008 international financial crisis on Russia's influence as the center and the financial crisis on Russia's focus on the impact of import and export trade, a comprehensive analysis of the financial crisis on the serious impact of Russia, and analyzes the inherent drawbacks of the Russian economy, as well as Russia and China to strengthen cooperation in financial field and win-win and mutual assistance and cooperation in space, so as to shake off Russia's financial crisis as soon as possible to achieve economic recovery and thus provides the countermeasures and suggestions.Full-text is divided into three chapters, as follows:The first chapter is an overview of the international financial crisis in 2008, this chapter a brief introduction in 2008 of the international financial crisis causes, namely, financial over-innovation, economic recession, inappropriate monetary policy, as well as the abuse of financial derivatives. This chapter, followed by an analysis of the international financial crisis on the global economic impact, mainly including the world economic slowdown, the global stock and currency turbulence intensity of fluctuations in international commodity prices, global trade and financial flows dropped sharply;The second chapter is the international financial crisis on Russia's economic impact, the chapter is the full text is mainly focused on analysis of the international financial crisis on the Russian economy transmission mechanism, the international financial crisis on Russia's economic entities, financial impact on the main impact of the real economy, manifested as follows: industrial production plummeting, oil and gas industries are badly hit, the construction industry has been hit. On the financial effects include: the banking system faced "liquidity crisis", the stock market crash, oil prices, capital flight, the ruble devaluation pressures. Then focused on analyzing the 2008 international financial crisis on Russia's import and export trade, through the analysis we get, from January 2008 to September 2008, Russia's import and export volume growth has been relatively stable, there has been no major decline, as well as larger fluctuations. Then, from September 2008 since the outbreak of the international financial crisis, Russia's export growth rate was a sharp decline, and in late 2008, bottomed out since then has remained at a very low level, continued until July 2009 This phenomenon did not show signs of improvement;The third chapter is response measures, Russia's own deficiencies, the space of financial cooperation with China and the policy proposals. The first section of this chapter is a brief introduction about the financial crisis in Russia for the measures taken, including the real economy and financial markets rescue, as well as expansionary fiscal policy. The chapter concludes our analysis of the Russian economy and Russia's own deficiencies and to strengthen financial cooperation in space, deficiencies are: over-reliance on energy exports, the economic model, the low status of the Russian ruble, the international mobility is poor, the banking system's inherent flaws. China and Russia on cooperation in the financial direction: more use of local currency settlement, to seek the cooperation of the capital market to tap, "Energy Finance" areas of cooperation. The last section of this Chapter is the policy proposals, through the full-text analysis, we see that the international financial crisis hit the Russian economy is quite enormous, mainly reflected in: Russian GDP starting from October 2008 rate of increase slowed down in November 2008, ring compared with an increase of only 2.1% since the lowest since April 1999 the monthly growth rate. In December 2008, Russia's economic growth have emerged since March 1999 the first decline since, a decline of 1.1%. In 2008 Russia's gross domestic product grew by only 5.6%. In 2008 the international financial crisis on Russia's enormous impact on import and export trade, from Russia in September 2008 began a sharp decline of import and export volume growth and negative growth trend continued until July 2009 has not improved. To this end, we believe that the key needs of Russia, do the following tasks: 1. To continue to rescue the financial system; 2. The implementation of foreign exchange intervention; 3. To support national entities, economic development; 4. To promote employment, increase of social security efforts. |
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