A Study On Global Cost Sharing Mechanism Of Subprime Crisis Based On Perspective Of Dollar Standard

A Study on global cost sharing mechanism of Subprime crisis based on Perspective of dollar standardIn2007the American subprime mortgages crisis and the global financial crisis not only since the great depression was the most serious global financial crisis, but so far still on the global economy has a significant impact on the financial crisis. The subprime crisis has been more than four years.The cause of the global financial tsunami is the past more than three years. On the crisis of the origin, spread and impact of attention already cause a temporary clamour. Academic crisis concerns mostly from crisis prevention and management position to investigate the deep-seated causes of the crisis and its prevention and countermeasures, but the crisis management cost global share structure study has not been seen. This article is in this area a preliminary attempt. In this paper, the author will divide sub-prime crisis costs into direct costs and indirect costs. Direct cost refers to the various countries for assistance by the crisis has seriously affected the financial system or sector of the economy and the actual investment funds; and the indirect costs refer to the various countries for the subprime crisis to pay other costs, including the economic recession, rising unemployment, foreign trade atrophy and some other more deep-seated problems. This article focuses on these two kinds of subprime mortgage crisis cost in different economies between share structure, and under the background of economic globalization, the international monetary system and international economic and trade relations viewpoint. The aim of the thesis is based on China’s own interests and hopes to use the analysis results for our country better in the world economic system to safeguard economic security and independence to provide advice and inspiration.This paper consists of seven parts:the first part introduces the research background, research ideas and contents and the innovation of this article. The second part reviews the background of subprime crisis, process and transmission mechanism, and the subprime mortgage crisis cost global sharing relevant research literature review. The third part is the full text of the core section. It is about a systematic analysis of the dollar standard system for the characteristics of the world monetary system problems and on the basis of analysis of the subprime mortgage crisis global share specific mechanisms. The fourth part and the fifth part is the third part of contents of the expansion, in which the fourth part focuses on the subprime mortgage crisis and the direct cost in countries share; the fifth part focuses on the sub-loan crisis on the world’s major economies, caused by a recessive effect of indirect cost, global sharing mechanism and the relationship between the international monetary system. The sixth part discusses crisis sharing mechanism reform issues from the perspective of the reform of the international monetary system, and in this process the principles and the role of china. The seventh part summarizes the whole article.The results of this study indicate the international monetary system, the contradiction of deep administrative levels created international economic system distortion, embodied in international trade imbalance caused by the international division of labor structure disorder, as well as the financial liberalization in international capital movement disorder. International division of labor and the international capital movement disorder is the United States sub-loan crisis erupts the basic reason; crisis is the cost to be global in scope, to share the system foundation. In the subprime crisis triggered by the financial crisis, Asia’s emerging and developing countries for crisis management and recovery bear the cost is high, the United States and European countries although seemingly direct loss is not small, but ultimately can be through the international economic and trade ties to achieve transfer. To our country character, the inability to completely change the current international monetary system circumstances actively promote the adjustment of economic structure,solid and secure promote RMB internationalization process, not only conducive to China’s economy stable development, but also to the international economy contribution.