Historical data on the international financial crisis

1. The U.S. financial crisis.

What started as a Wall Street storm caused by the subprime mortgage crisis in the United States has evolved into a global financial crisis. The rapid development of this process, the sheer number of it, and the enormous impact of it can be said that people did not expect it.

Broadly speaking, it can be divided into three stages: first, the debt crisis, the problems caused by the borrower's failure to repay the principal and interest on time. The second stage is the liquidity crisis.

As a result of the debt crisis, some of these financial institutions have not been able to have sufficient liquidity in a timely manner to meet the creditors' demand for liquidation. The third stage is the credit crisis. That is, people are suspicious of financial activities based on credit, which creates such a crisis.

2. Hong Kong's financial defense.

At the beginning of Hong Kong's return to China in 1997, the Asian financial crisis broke out. From mid-July to August 1998, international financial speculators sniped at the Hong Kong dollar three times, acting simultaneously in the foreign exchange, ** and futures markets. They use financial means, using 3-month or 6-month Hong Kong dollar contracts, and then quickly short selling, causing the Hong Kong dollar interest rate to rise sharply, the Hang Seng Index, and make huge profits.

3. International financial crisis.

The financial crisis caused by external factors and the international contagion of the financial crisis are not phenomena that have only emerged in recent years. In 1873, when the economies of Germany and Austria were booming, attracting capital to stay at home, foreign credit was abruptly suspended, resulting in difficulties for the American Jay Cook Company.

In 1890, the Baring Brothers Investment Bank of London suffered a payment crisis on Argentine claims, coupled with the financial crisis in New York in October of that year, a series of business failures in London, and the Bank of Barings almost collapsed in November of that year, only to be spared by a syndicate guarantee ** bailout led by William Leaddale, the governor of the Bank of England.

British loans to South Africa, Australia, the United States, and other Latin American countries were sharply reduced as a result of this, and the economic crisis in these countries and regions lasted until 1893.

4. Asian financial crisis.

In June 1997, a financial crisis erupted in Asia, and the development of the crisis was very complicated. By the end of 1998, it could be broadly divided into three phases: from June to December 1997; January 1998 to July 1998; July 1998 to the end of the year.

There are many reasons for the outbreak of the financial crisis in 1997, and Chinese scholars generally believe that it can be divided into several aspects, such as direct triggers, internal basic factors, and world economic factors.

5. Global financial crisis.

2007-2008 Global Financial Crisis.

Also known as the financial tsunami, credit crisis, and Wall Street tsunami, it was a financial crisis that began to emerge on August 9, 2007. Since the outbreak of the subprime home credit crisis, investors have begun to lose confidence in the value of mortgages**, triggering a liquidity crisis.

Even the repeated injection of huge sums of money into the financial markets by the banks of many countries** could not prevent the outbreak of this financial crisis. It wasn't until 2008 that the financial crisis began to spiral out of control, leading to the collapse or takeover of a number of fairly large financial institutions.

<> economic crisis of 1857.

For the first time in the history of capitalism, there is a general crisis of overproduction with a worldwide character.

1907 Banking Crisis, October 1907, Bank of America.

The crisis erupted. In October 1929, the United States collapsed, with an economic crisis and the Great Depression.

It lasted up to 10 years.

On October 19, 1987, New York had another major event in its history, in one day, which dealt an almost devastating blow to the American financial community.

In 1998, the ongoing economic crisis in Russia led to the ruble.

depreciation and debt default.

In 2008, there was a banking crisis in the United States and Europe.

In 2010, Greece's sovereign debt crisis erupted suddenly.