The Financial Crisis And The Uk - 865 Words

This essay will talk about how the financial crisis influenced enterprises in the UK and in China. It’s obvious that the financial crisis originated in the United States and it had three major features: high destructive effect, long continuance and wide spreading. Many enterprises are impacted by the financial crisis in terms of imports and exports, unemployment and enterprise competition. In China, small and medium-sized enterprises are very necessary because China is a large population of developing countries, and it is better able to promote the development of national economy. Therefore, China should help small and medium-sized enterprises solve problems. For the UK, the financial services industry is a major industry, if the financial sector can’t operate properly, the British economy will become a failure. Due to the impact of the crisis, Britain also suffered a severe credit crunch. The house market in the UK is quite low. Moreover, under the financial crisis, lo ts of people can’t acquire a job because many enterprises close down. The number of unemployment increase dramatically, therefore the influence of the financial crisis is very serious. It has a severe shock in export in China. The number of exported orders decreased sharply. Between January to August in 2009, China’s foreign trade export 730.74 billion which down 22% year on year. At the same time,general trade import prices fell by 22%, imports increased by 4%, processing prices fell by 6.1% and importsShow MoreRelatedUk Government Responses For The Financial Crisis945 Words   |  4 PagesUK Government Responses to the Financial Crisis UK government was very swift in its response the financial crisis. Various measures were taken to address the economic anomaly that came with the crisis. These range from various monetary policies to fiscal policies. Some of these policies are discussed below: Reduction in interest rate: In March 2009, UK government through Bank of England reduced interest rate from 5.0 % in September 2008 to 0.5 %. Figure 7 below shows UK interest rate level from aRead MoreThe Impact Of Financial Crisis On The Uk Economy1240 Words   |  5 PagesExecutive summary The financial crisis 2007/08 led to the fact that some large financial institutions were under threat to collapse and had to be bailed out by the government to avoid a total meltdown of the financial system. The financial crisis was triggered by a combination of factors; some of them were the lack of regulations and supervision, excessive leverage practice, insufficient liquidity provision and a lack of adequate capital holdings by the banks. This report will focus on two differentRead MoreFinancial Crisis Impact on Uk Government3011 Words   |  13 PagesThe UK government has announced a package of measures aimed at rescuing banking system that makes 400 billion pound. 100 billion pound will be available in short term loans from bank of England on top of an existing loan facility. Banks will have to increases their capital by at least 25 billion pound and borrow from government. An additional 25 billion pound in extra capital will be available in exchange of preference shares. Government described as the root cause of current financial crisisRead MoreEssay on The Financial Crisis and UK Bank Scandals1056 Words   |  5 Pages The Financial Crisis and UK Bank Scandals In September 2007 the UK banking industry began exhibiting symptoms of the financial crisis that started in America in 2006. Northern Rock was in trouble and had to ask the Bank of England for help. When news of this got out customers started queuing around the block to withdraw their money. In 2008 Northern Rock was nationalised, and in 2012 it was bought by Virgin Money. Today the banking industry can be seen to be on the road to recovery. But on thatRead MoreEssay on The Impact of Financial Crisis on the Uk Job Market2471 Words   |  10 PagesThe impact of the financial crisis on the UK job market and employment (2007-2009) Module: PM021-Aspects of British Culture and Society Name: JUN YU WU Student Number: 0908108 Tutor: Jeff Meadowcroft Word Count: 1,970 Contents 1. Introduction†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦...Page 3 2. Global financial crisis (2007-2009)†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Page 3 3. Influence on world job market†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Page 3-4 4. Influence on the UK job market†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.Page 4-5 4Read MoreThe Impact of Financial Derivatives Market on the Uk Economy-: Before, During and After the 2008 Financial Crisis2453 Words   |  10 PagesResearch Proposal: 1-Provisional title: The impact of Financial Derivatives market on the UK economy-: Before, during and after the 2008 Financial crisis. 2-Rationale The operations of the derivative market has become a rising concern today in the world and in the UK in particular as this market could destabilize the efficiency of the financial market and the economy at large if not managed properly by its users or if a major fault occurs in the derivative market, as it plays a vital role asRead MoreBanking of Uk1564 Words   |  7 Pages1. The financial crisis of 2007/2008 and its impact on the UK and other economies Do you still feel vague about the causes and the effects of the financial crisis of 2007/8? Are you preparing for a job interview in either the private or public sector? The events of 2007/8 have shaped both the current UK commercial and business scene and are now having a massive effect on the public sector. Similar impacts are being felt across Europe and the wider world. Knowing a bit more about what happenedRead MoreThe Structure, Conduct and Recent Performance of the Uk Banking Sector1105 Words   |  5 PagesINTRODUCTION Before discussing the structure, conduct and recent performance of the UK banking sector, it is useful to provide an insight in the recent global financial crisis caused by the sub-prime mortgage crisis initiated in the US and underline its effects on the banking industry in the UK. It all started with the collapse of the housing bubble in the US, as borrowers were no longer able to meet their financial obligations and as consequence many of these subprime mortgages became default andRead MoreThe Main Structural Changes Implementation Of The Uk Financial System1708 Words   |  7 Pagesargued that the financial markets in the UK have failed to provide adequate support for industry. Identify the main structural changes implemented in the UK financial system over the last two decades and explain how these changes have affected the supply of funds in the industry. The financial system is defined by Investopedia as the system that enables lenders and borrowers to exchange funds. The global financial system is basically a broader regional system that encompasses all financial institutionsRead MoreIntroduction Of The Bank Of England986 Words   |  4 PagesParliament were subject to introduce by the UK Parliament in order to increase confidence in the banknotes that were in circulation through limiting on the rights of banks in issuing notes. This concept leads to general idea of this paper, which will look at the evolution of output, inflation, the official bank rate set by the Bank of England and government spending in the UK (Greer, 2009). It is fascinating for one to track on how the global financial integration has been evolving for the past century