The Asian Financial Crisis Of Some Reflection And Experience

The financial crisis happened in Thailand has ended. But it leaves lots of panic for the whole world; leave a large piece of shadow for people. In the current age that full of peace and development, nothing is more terrible than the financial crisis. It likes a ghost, suddenly appears in some corner of the world. Strike the whole international economy. At the same time, leave the endless ponder for the economist. If there will be a financial crisis in the coming new age? If the answer is yes, but when the crisis will happen? For shun the financial crisis, what should we do? This is a very serious and realistic problem.With the irreversible trend of economic globalization and the finance incorporation, the global commerce contact will be more and more tightness, the capital fluxion will be more and more fast, so the probability of financial crisis are bigger than before. If the financial crisis happens, it will bring great loss for the country which the crisis happened. At the same time it will influence other country so much as the whole region and the global economy. After the collapse of gold standard, the global economy is always be puzzled for the financial and monetary crisis, and the collapse of exchange rate is often cased by the speculative attack, so we can say: from every aspect in the current age, the most terrible crisis is the financial crisis.Ten years has passed, China has entered the WTO, with the comprehensive and embedded open of our money market and other scopes, the negative infection will appear in the form of monetary crisis, bank crisis and financial crisis. Entering 2006 the Chinese stock price and realty price has a suddenly jump, the capital price has an unusual variety, the CPI index increases month by month, all these things happened made people begins to care about the Chinese bubble economy. Whether there have bubbles in Chinese stock and realty market? If the answer is yes, when will the bubbles outburst? This will be the hot topic for the economist.This paper reviews the darkness time of the Asian financial crisis, summarize the reason of Asian financial crisis. The history is a mirror, though the history we can see our mistake. It can awake the Chinese people's critical consciousness. This paper use the method of summarization, reviewed the historical event of financial crisis happened in Japan and Korea 1997, though the events to find out the reasons that, why the crisis happened in Japan and Korea, and summarize the lapses, which the governments of Japan and Korea have done, and summarize the factor, which cased the crisis. At last, raise the experiences that the crisis has left for us.