Financial crisis and Quake in China

Posted by Yuka as World

Quake
A quake registered 8 on the Richter scale hitted Wenchuan on May 12,2008.The quake brought so huge loss for people’s life and treasure that it aroused attention from all over the world to Wenchuan.

Our government at different levels reponsed to the quake very quickly,all kinds of rescuing work were organized effectively at once,especially,premier Wenjiabao arrived at disaster areas on the very day and spent 88 hours in those areas. At the same time,compatriots,including overseas chinese,all have tried their best to help those people in the disaster areas with various ways,this catastrophe made us feel strongly a spirit of chinese again,that is the spirit of facing difficulties bravely and helping each other selflessly. In addtion,many foreign governments and international friends provided their donations for us , many professional rescuing teams of abundant experience were dispatched to the disaster areas.We also noticed the opening attitude of China government to the report of this accident, it is a hugh progress compared with previous time.

This earthquake was impressive,it was the most serious tragedy since Tangshan earthquake which happened in 1976.After the quake,the reconstruction of disaster areas in all kinds of fileds is very tough and challenging, eg.the settling of people,the reconstruction of school,the recovery of traffic, telecommunication and tour industry,etc.It still need help badly from all around our country.Under the correct leading of CPC and different level governments,we have enough reasons to believe that the reconstruction of disaster areas will be finished very well and the people in disaster areas will back to normal life at the last. （256 words）

Financial crisis
The whole world had experienced an anguish finacial crisis in 2008.The crisis has heavy impact on both fictitious and real economy, many famous financial institutions of long history went to bankrupcy,like Bear Stearns,ALG,Lehman Brothers Holdings etc.,almost all global stock markets went down straightly day after day, more and more people lost their jobs,people have to spend less on consuming than ever , a few countries are even on the brink of collapse, …, in a globalization economic environment, it is impossible for a country to escape the nightmare of global crisis , the crisis is going on.Then, what did incur this financial crisis? It is subprime mortgage crisis,or in another word, the excessive cosuming of American.

In the process of meeting with the crisis, governments around the world adopted various measures,such as, decreasing interest, nationalizing some banks or enterprises, making a package of economic stimulus plan, etc. …, in order to increase home demand and cut down the rate of jobless, trade protectionism even begin to emerge in some countries.The end of crisis needs wisdom and collaboration,not from one country, but from every country on the earth. Unfortunately, we still have not seen any positive change after these measures till now. This reflects people’s worring about the future, it also suggests that we have to have a long economic recession.

We can draw some lessons from this crisis. At the first, excessive free market without effective monitoring is infeasible. Secondly, emerging economic body should play an important role in the building of new financial order.