The Comparative Analysis Of Strategies To Deal With The Financial Crisis Between The United States And Emerging Asian Economies

The global financial crisis brought about by the 2007 U.S. sub-prime crisis is an unexpected chaos. Compared with the conventional financial crisis, there are many new features in this financial crisis. Its impact goes far beyond the scope of a country, and brings about various degree of economic recession in many countries. The financial crisis increases the instability of the world economy under the background of economic globalization. The United States and emerging Asian economies play an important role in the world economy, therefore. In order to make a more healthy development of world economy, we can make a comparative analysis of strategies to deal with the financial crisis between the United States and emerging Asian economies.This paper begins with the analysis through the development process and the new features of the financial crisis. The United States and emerging Asian economies are both severely impacted by this financial crisis. Their economic stimulus programs have different results, and also show up different new features. For example, the U.S. program focus on funding the financial institutions,is a "point to an area" policy; on the contrary,the bailout of the Asian emerging economies focus on investing in the real economy, is a full range of relief measures to promote economic development, is a " area to a point" policy. To compare the analysis of performances to deal with the financial crisis between the United States and emerging Asian economies, the paper conclude the different characteristics they showed up, as well as the impact, and also predict the trends of world economy. At the same time, the paper puts forward some rational policy proposals to deal with the financial crisis in China, such as,further expanding domestic demand and flourish the real economy, strengthening financial supervision and improving the financial management system, gradually opening up capital account, and speeding up the reform of RMB exchange rate system, etc. And we will find more suitable development strategy for our real situation.This paper attempts to contribute in solving the following three issues: First, an regression analysis is made in order to illustrate the role of China and the United State in the world economy; Second, sum up the new features from the performance of the United States and the Asian emerging economies to tackle the financial crisis; Third, put forward policy proposals for China, through the comparative analysis of strategies to deal with the financial crisis between the United States and emerging Asian economies.