资本主义(国外英语资料).docVIP

资本主义(国外英语资料) It would be foolish of us to take it lightly because most of the problems are abroad. We are also a component of the global capitalist system, characterized by free trade as well as free flow of funds. This system is good for financial capital, and the latter is free to choose where to go, which has contributed to the rapid growth of global financial markets. We can use this system as a giant of the circulatory system, after it was sucked into the center of the capital system of financial markets and financial institutions to loan portfolio or investment way directly to the edge, or indirectly through multinational companies exported. Before the outbreak of the crisis in Thailand in July 1997, the centre continued to inhale and export capital, and the financial markets grew stronger and more important. Countries in the border areas can get a large supply of funds as long as they open the capital markets. Booming economies around the world are better for emerging economies. In 1994, more than half of the money flowing into Americas mutual funds went into investment funds in emerging markets. The crisis in Asia has reversed the flow of money, and money has begun to flow back from the periphery. At first, the return of funds was beneficial to the heart of the global capitalist system. At that time, the US economy was on the verge of overheating, and the Federal Reserve was considering raising the discount rate. But after the Asian crisis, this step was unwise, and the stock market was buoyed by this. Then, two U.S. economic benefit: on the one hand, cheap imports so that domestic inflation pressure is abated; on the other hand, the stock market hit record highs. Core prosperity brings hope, and suggests that the edge may also recover. Between February 98 and April, most Asian markets recovered roughly half of their losses in local currencies. It was a typical bear market rally. But the edge of the pain is strong enough to make the heart of the global syste