第1个回答 2010-12-11
1.What Caused The Financial Crisis?
I think we can sum up the cause of our current economic crisis in one word — GREED. Over the years, mortgage lenders were happy to lend money to people who couldn’t afford their mortgages. But they did it anyway because there was nothing to lose. These lenders were able to charge higher interest rates and make more money on sub-prime loans. If the borrowers default, they simply seized the house and put it back on the market. On top of that, they were able to pass the risk off to mortgage insurer or package these mortgages as mortgage-backed securities. Easy money!
and what went wrong with our financial system? The whole thing was one big scheme. Everything was great when houses were selling like hot cakes and their values go up every month. Lenders made it easier to borrow money, and the higher demand drove up house values. Higher house values means that lenders could lend out even bigger mortgages, and it also gave lenders some protection against foreclosures. All of this translates into more money for the lenders, insurers, and investors. Unfortunately, many borrowers got slammed when their adjustable mortgage finally adjusted. When too many of them couldn’t afford to make their payments, it causes these lenders to suffer from liquidity issue and to sit on more foreclosures than they could sell. Mortgage-backed securities became more risky and worth less causing investment firms like Lehman Brothers to suffer. Moreover, insurers like AIG who insured these bad mortgages also got in trouble.
The scheme worked well, but it reverses course and is now coming back to hurt everyone with a vengeance.
2.Opportunities and challenges with the coming of globalization
Globalization is a historical process, referring to the increasing integration of economies around the world, particularly through trade and financial flows and the movement of people and knowledge across international borders. With the coming of globalization, it brings us both opportunities and challenges.
Greater interconnectedness among the world’s people seems to promise a “global village” in which the destructive antagonisms of the past can be left behind, replaced by global cooperation and enriching diversity. Global markets offer grater opportunity of people to tap into more and large markets around the world. It means that they can have access to more capital flows, technology, cheaper imports, and larger export markets. As globalization has progressed, living standards, particularly when measured by broader indicators of well-being, have improved significantly in virtually all countries.
But the actual experience of globalization has not fulfilled such promise as above. Instead, it has given us more poor people than the world has ever know and increased threats to the environmental conditions on which humans life itself depends. It has led many to fear the loss of hard-won social and environmental protections and even of meaningful self-government. And the markets do not necessarily ensure that the benefits of increased efficiency are shared by all. Also the strongest gains have been made by the advanced countries and only some of the developing countries.
Globalization is both irreversible and, in its present form, unsustainable. What will come after it is far from determined. Countries must be prepared to embrace the policies needed, and in the case of the poorest counties may need the support of the international community as the do so.
3.Today, we learn of the "challenge to the fate of the" one, I am deeply, and I have a really different compared to Hawking. Hawking in the event of illness or adhere to the training and learning, which is many people do not. But he has been with a strong determination to overcome difficulties and have been inspired his courage. He's illness also wrote under torture, "A Brief History of Time - From the Big Bang to Black Hole" This is how it is not easy! He kind of afraid of difficulties, not afraid of failure, the courage to challenge the fate of the spirit to the inspiration of my life, my life on the road to a brilliant banner. "Strong-minded and can move mountains, life on the road, only the strong will and the courage to overcome difficulties and the courage to challenge the fate of people who can win." "Strong-minded and can move mountains." This is the true reason . You see, two-thirds of the high level of paralysis sister Heidi, in a wheelchair in the small world of struggle in order to achieve success than others, I do not know how many times have to pay. However, she did not bow to fate, to yield difficulties. She did not firmly believe that not climb on the mountain, did not make life difficult for the river, in the face of difficulties and move forward, surging, self-study after school education, foreign language self-study hard, translated more than 30 million foreign Literature. Perseverance amazing sister Heidi is not relying on a strong will, hard work, step by step on the success of this mountain?
Balzac There is a saying: "The difficulty for the weak is an abyss, for the strong run is a great asset." Yes, if a person succumbed to the fate of the yield to difficulties, then, he Can only be a weak, but difficult, strong-minded and have the courage to challenge fate, he will be strong in life. Hawking is not afraid of difficulties, not afraid of failure, the courage to challenge the fate of the spirit, we'll reveal the true meaning of one. "Trials and tribulations, so who weak willpower into a quagmire of failure, the will is strong on the climb to the pinnacle of success." Generally, the past achievements of the people are a lot of hard training, from the rise in the trials and tribulations. "The Art of War," the author of the famous military strategist Sun Bin, the self-mature mathematician Hua, the morning of the world-famous "compact" the mother - Marie Curie, Edison inventor, is not it? Gorky once said: "Let's be more fierce storm more now." Yes, difficulties and setbacks of life is like in the condiment, not the life will become dull. Let us as the storm petrel, full of lofty sentiments and aspirations, with a smile in the face of setbacks in life, to enjoy the success of the joy of it!