久久久无码人妻精品无码_6080YYY午夜理论片中无码_性无码专区_无码人妻品一区二区三区精99

Make me your Homepage
left corner left corner
China Daily Website

Is Wall Street still a model?

Updated: 2009-01-05 08:05
(China Daily)

Yes

Liu Jinghua, Beijing Normal University professor:

The fall of the Wall Street has many doubting the necessity of continuing financial innovation in China. We should admit the defects of the Wall Street system but it is still in China's interest to adopt some of its innovations, balanced, of course, with the kind of regulations that would have prevented Wall Street's failure.

Many see Wall Street's failure as the failure of the Western economic and financial system. But the voracity of the financial gurus as well as the greed of the common people - both stemming from basic human instinct - are at the root of the crisis. This is nothing new and has happened many times before.

So it may not be proper to attribute the current crisis to the Wall Street system; rather it is the fallout of human nature.

Wall Street, literally, is but a narrow 600-meter-long street in Manhattan. However, it is the heart of the global financial world and the symbol of the financial prowess of the world. While we are denouncing the damages of the financial crisis that originated from Wall Street, we should not forget that in the past half century it was this street that brought innovations that drove the world's economic and technological miracles.

If the US did not indulge in excessive borrowing-based consumption, the crisis may not have happened but we should not forget that the greed of irresponsible ratings agencies and policymakers also played an ugly role in triggering the crisis.

The Western financial system, represented by Wall Street, should be reformed but it is unnecessary to dump all its financial practices and rules. What we need to do is to draw lessons from Wall Street, strengthen financial regulation and establish closer global cooperation among the world economies to preclude any future crisis.

No

Zhang Jingwei, Jiangsu province scholar:

Everybody would have said yes a few years ago. But now we're lucky we didn't apply too much Wall Street financial know-how to the Chinese market. Five investment banks and Citigroup in the US have fallen to the financial turmoil. The Wall Street system creates not only wealth but also bubbles.

Former US Federal Reserve chairman Alan Greenspan told Asian countries during the 1997 Asian financial crisis that the US capital market is the model to follow. Countries such as South Korea, Indonesia and Thailand copied the Western style of economic and financial management in return for Western aid. But 10 years later many countries following the Wall Street recipe paid a dear price. Iceland, a European finance hub, is being pushed into bankruptcy.

The international community is pondering the cause of the crisis as it spreads across the globe. Two factors are prominent. One is the Washington Consensus, which was initially coined in 1989 by institutions such as the International Monetary Fund (IMF) and the World Bank to describe a set of 10 specific economic policy prescriptions constituting a standard reform package for crisis-wracked developing countries. The other is that so many countries jumped on the Wall Street bandwagon.

China made efforts to get integrated into the global financial market over the last two decades. Many domestic economists advocated faster and wider opening up of the financial market and less intervention in the market so that the US mode of financial management could be introduced into China. The Asian financial crisis, however, reminded us of the havoc full financial de-regulation can wreak. We are fortunate we adopted a gradualist approach in financial innovation.

We learned from Wall Street to launch such financial products as securities and bonds, but we have tried to keep the scale of the virtual economy proportionate with the real economy so that risks are controllable.

China should tap its own approach in constructing its financial management regime.

The article is reprinted from Beijing-based Global Times

(China Daily 01/05/2009 page2)

8.03K
 
...
Hot Topics
Geng Jiasheng, 54, a national master technician in the manufacturing industry, is busy working on improvements for a new removable environmental protection toilet, a project he has been devoted to since last year.
...
...
久久久无码人妻精品无码_6080YYY午夜理论片中无码_性无码专区_无码人妻品一区二区三区精99

    欧美精品一区二区三区蜜桃视频 | 欧美一级艳片视频免费观看| 国产精品私人自拍| 精品一区二区三区在线播放 | xnxx国产精品| 久久9热精品视频| 91精品国产麻豆国产自产在线 | 日韩三级视频在线观看| 日韩激情视频网站| 欧美三级电影网站| 亚洲精品视频免费观看| 91丨porny丨国产| 中文字幕不卡在线播放| 国产精品影视在线观看| 国产亚洲精品免费| 国产精品一区二区三区四区| 国产精品久久久久久久久免费丝袜 | 国产精品伊人色| 亚洲日本韩国一区| 91亚洲精品乱码久久久久久蜜桃| 一二三四社区欧美黄| 在线观看av不卡| 亚洲国产中文字幕在线视频综合 | 欧美成人aa大片| 久99久精品视频免费观看| 中文字幕乱码日本亚洲一区二区| 色噜噜夜夜夜综合网| 亚洲国产精品人人做人人爽| 日韩三级伦理片妻子的秘密按摩| 成人一区二区三区中文字幕| 中文字幕一区二| 一本一本大道香蕉久在线精品| 亚洲精品视频一区二区| 日韩写真欧美这视频| 本田岬高潮一区二区三区| 亚洲品质自拍视频| 欧美性极品少妇| 天天色天天操综合| 精品日韩在线一区| 97se亚洲国产综合自在线观| 亚洲一区二区三区在线看| 欧美另类久久久品| 美女国产一区二区| 久久免费视频一区| 不卡的电影网站| 亚洲精品视频一区| 欧美精品一区二区三区视频| 欧美做爰猛烈大尺度电影无法无天| 毛片不卡一区二区| 一区二区三区精品在线观看| 精品1区2区在线观看| 欧美日韩视频在线一区二区 | 在线区一区二视频| 国产精品一卡二| 亚洲一区av在线| 国产精品久久久久久久久免费桃花| 欧美一区二区日韩一区二区| 色婷婷精品大在线视频| 国产精品自拍在线| 午夜精品爽啪视频| 亚洲欧美影音先锋| 久久色.com| 91麻豆精品国产自产在线观看一区 | 91视频com| 国产成人激情av| 亚洲一区二区在线观看视频 | 国产精品久久久久影院老司 | 欧美zozo另类异族| 欧美三区在线视频| 91蝌蚪porny九色| 国产999精品久久| 亚洲一区二区中文在线| 国产精品理论片| 久久综合九色综合欧美亚洲| 欧美一区二视频| 欧美午夜精品久久久久久孕妇| 不卡一区在线观看| 国产伦精品一区二区三区免费| 亚洲欧美激情视频在线观看一区二区三区| 欧美精品一区二区三区蜜臀 | 911国产精品| 欧美少妇xxx| 91蜜桃网址入口| 成人国产亚洲欧美成人综合网 | 成人国产精品免费网站| 国产一区二区三区在线观看精品| 蜜臀av性久久久久av蜜臀妖精 | 色先锋aa成人| 成年人午夜久久久| 波多野结衣精品在线| 盗摄精品av一区二区三区| 国产精品一级黄| 韩国精品久久久| 一区二区日韩av| 亚洲激情第一区| 亚洲三级理论片| 综合自拍亚洲综合图不卡区| 欧美激情一区二区三区在线| 久久久五月婷婷| 久久夜色精品一区| 精品福利二区三区| 久久天天做天天爱综合色| 精品国产青草久久久久福利| 精品久久五月天| 欧美精品一区二| 精品国产乱码久久久久久免费| 欧美电影免费观看完整版| 在线看国产一区二区| 色偷偷一区二区三区| 色国产精品一区在线观看| 一本色道久久综合亚洲精品按摩 | 欧美色图一区二区三区| 欧美亚一区二区| 欧美日韩欧美一区二区| 欧美精品乱码久久久久久| 5858s免费视频成人| 日韩一区二区在线看| 精品国产在天天线2019| 久久久久国产精品麻豆ai换脸| 久久久久久夜精品精品免费| 国产日韩欧美亚洲| 欧美xxxxxxxx| 久久蜜桃av一区二区天堂 | 自拍偷拍国产亚洲| 亚洲午夜电影在线观看| 天堂成人免费av电影一区| 久久er99精品| 国产成人亚洲精品青草天美| a级精品国产片在线观看| 在线视频中文字幕一区二区| 欧美日韩免费一区二区三区| 日韩欧美另类在线| 亚洲国产成人在线| 亚洲一区二区在线观看视频| 日本中文在线一区| 日本最新不卡在线| 国产美女视频91| 91原创在线视频| 在线播放亚洲一区| 久久久激情视频| 亚洲精品水蜜桃| 日韩中文字幕av电影| 国产在线视频一区二区三区| 99精品视频在线观看| 欧美日韩一区二区三区高清| 精品免费日韩av| 18欧美亚洲精品| 香蕉成人伊视频在线观看| 午夜精品久久久久久久99樱桃| 美女一区二区视频| 成人黄色网址在线观看| 欧美日韩视频在线一区二区| 久久久青草青青国产亚洲免观| 亚洲日韩欧美一区二区在线| 日韩av一级电影| 成人综合婷婷国产精品久久蜜臀| 在线看日本不卡| 久久亚洲欧美国产精品乐播| 最新日韩av在线| 蜜臀av一区二区在线免费观看| 成人av网站免费观看| 欧美狂野另类xxxxoooo| 国产日韩精品一区二区浪潮av| 亚洲精品欧美激情| 久久97超碰国产精品超碰| av资源网一区| 欧美电影精品一区二区| 中文字幕综合网| 精品系列免费在线观看| 色婷婷亚洲婷婷| 亚洲精品一区二区三区四区高清| 亚洲精品一卡二卡| 国产精品亚洲一区二区三区妖精| 日本韩国视频一区二区| 久久久久久久av麻豆果冻| 亚洲午夜久久久久中文字幕久| 国产伦精品一区二区三区免费迷| 欧美性淫爽ww久久久久无| 国产日韩欧美综合在线| 日韩电影在线观看电影| 91色porny| 久久精品综合网| 日本最新不卡在线| 色天使色偷偷av一区二区| 国产亚洲精品福利| 日本vs亚洲vs韩国一区三区二区| 国产一区二区三区免费看| 欧美三级日韩三级| 中文字幕一区二区三中文字幕| 久久精品国产在热久久| 欧美少妇一区二区| 亚洲欧洲日产国码二区| 国产一区二区三区免费看| 91精品国产91久久久久久最新毛片 | 免费久久精品视频| 在线观看www91| 综合av第一页| 国产成人av资源| 337p粉嫩大胆色噜噜噜噜亚洲 | 不卡av在线网|