The Problems Of Chinese Fictitious Capital Development And Countermeasures Research Of Dealing With The Financial Crisis

The U.S. subprime mortgage crisis broke out had evolved into the global financial crisis, the crisis triggered in the housing market's subprime mortgage crisis, the subprime mortgage lending institutions transfer to banks, fund companies, insurance companies and other financial institutions ultimately lead to the global financial crisis.The United States is highly developed and mature market economy countries, financial regulation has been recognized as a perfect example of the world, as well as the U.S. financial system, financial management, financial innovation, monetary policy is the world follow the example of other countries, however, swept the global financial But the crisis originating on Wall Street, which had caused many scholars ponder causes of the U.S. financial crisis,the struggle of Western economists in advocating the free market liberalism and the Keynesian state interventionism intensified, both sides argued for their own on what triggered the global financial crisis. People on the reasons for the crisis to explanations:the mass distribution of the secondary financial loans, financial excesses innovations have led to the proliferation of financial derivatives, market mechanism failure, dereliction of duty and other financial regulatory institutions, these are Technical level explanations of the crisis, did not reveal the nature and causes of the financial crisis, and even some irresponsible people to emerging market economies such as China's high savings rate said to lead to a financial crisis.Virtual economy is the concept of fictitious capital from Marx derived. Fictitious capital of the credit system and the product of monetary capital, while the virtual economy is the fictitious capital to rely on the financial system as the main cycle of movement-related economic activities. In the times of Marx, the virtual economy has not become active in economic activities, nearly a century of development, the virtual economy has been very well developed and gradually the trend of globalization, affects the economic and social stability of the main factors. Virtual economy is the breeding soil of the bubble economy, the burst bubble economy led to the financial crisis. Careful analysis reveals that over virtual innovation and development of the economy contributed to the subprime crisis behind. Sub-prime crisis and the painful lessons of the global financial crisis tells us that we must take effective measures to make the fictitious capital of the virtual economy within the healthy development of appropriate scale.This article reached the following conclusions:Virtual economy is essentially derived from the physical economy, its operation does not create value, value to society is still based on the real physical economy sector, through finding out the relationship among fictitious capital, physical capital, financial capital, virtual economies, physical economy, and financial crisis. Therefore, no matter how the expansion of the virtual economy, can not run completely out of the real economy sector. Only under the economic structure of globalization, few developed countries in terms of their shrinking manufacturing sector, through the growing international trade and import of industrial products needed to maintain the normal operation of the economy. The reason why a small number of developed countries to maintain a longer period of expansive development of the virtual economy, virtual economy is not really out of the real economy, but rather rely on the international division of labor chains and international trade entities from other countries support their national economy as a virtual economy development of material basis of reason. Therefore, the contradictions of capitalist countries from the real economy sector spread to the virtual economy, the crisis may occur both in the real economy sector, may also occur in the virtual economy. Eventually come to a fictitious capital market development in China Strategy:The first is to speed up the fictitious capital markets to improve and perfect, not as a result of the financial crisis to deny the positive role of fictitious capital, denied the United States advanced fictitious capital markets. The second is to deepen the reform of financial supervision system, not to be blind optimism on China's capital market situation because of smaller impact of Western financial crisis on China's economy.