Applying New Public Health approaches locally - Myassignmenthelp.Com

Question: Examine about the Applying New Public Health approaches locally. Answer: Presentation Aboriginals and Torres Strait Islander individuals are first Australian making them the most seasoned culture in mankind's history. Government in Australia is endeavoring to build up rights for keeping up dialects and cultures(Cranney, 1995). They have profound social relationship of these individuals with the water and land consequently it becomes essential duty of the legislature to give rights and benefits to the individuals. Wellbeing administration staff is educated with respect to accessibility of government subsidizing in each territory for execution of a New Public Health activity. This activity will be centered around act of spontaneity of wellbeing status of neighborhood Aboriginal and Torres Strait Islander individuals or nearby ethnic minority gathering. The objective populace will be inspected for their essential medical problems and their physical action rates, cigarettes and liquor demise and misuse cases and asthma among youngsters, among all other winning challenges( Priest, 2011). These difficulties have intensified and making huge effect on the region. There are colossal proof that can demonstrate that national targets or local targets set are not met because of inadequately existing wellbeing norms. Joint projects with the Aboriginal and Torres Strait Islander Commission (ATSIC) should be created. ATSIC is a proper body of the legislature that is effectively leading projects and related improvements distinguishing any holes that exists in wellbeing administrations of Aboriginals and Islander Strait individuals. ATSIC utilizes for the most part individuals from the network to such an extent that extensions and holes can be recognized and least boundaries looked in program execution. As ATSIC approaches direct information for the Indigenous individuals, they will be better ready to take into account all needs and requests of the Islander Strait people(Bauman, 2007). This program will distinguish all important chance to move in the direction of explicit arrangement, arranging and program conveyance in association with Indigenous individuals. Indigenous individuals in the region has been experiencing over a time of two years because of absence of wellbeing offices and different open doors in medicinal services. Further holes win in such help conveyance as the vast majority taking into account the administration are non-Indigenous. Generally difficulties to take into account administrations happens in generally provincial and suburb zones of the nation where there is available an enormous number of Indigenous populace. Health care as well as absence of training and mastery debilitate them to get fitting administrations with the end goal that all out wellbeing of the populace can be upgraded in a general scenario(Bull, 2010). The extent of this report recognizes holes winning in the area when contrasted with national or local guidelines that are given. Speculation into foundation and important arrangements for making wellbein g related mindfulness can prompt adequacy in medicinal services, giving better expectations in the area. The study of disease transmission introduced to legitimize a neglected nearby general wellbeing required Native and Islander Torres Strait individuals had been falling behind in wellbeing principles altogether. Particularly in the Victoria area in Australia, Melbourne there is predominance of gigantic measures of inconsistencies in wellbeing standards(Carville, 2007). Information has been gathered in the area to decide driving reason for death, sickness and wounds which uncovers that it is falling a long ways behind different territories. Unfortunate ways of life has been credited essential explanation is driving illnesses and demise related causes in the district. Way of life followed by this portion of individuals opens them to utilization of abundance liquor, smoking, absence of physical action with no appropriate sustenance. The information has been gathered through a few studies to such an extent that to decide its exactness and unwavering quality. Figure 1: Indigenous Population by State/Territory Australia Social determinants of these individuals had likewise been seen as more terrible when contrasted with non-Indigenous individuals particularly with regards to health(Durey, 2010). Wellbeing administrations are frequently not assessable or are easy to use as progressively Indigenous individuals avoid the scope of primary urban areas and townships in remote areas where wellbeing administrations are not advertised. There is likewise a hole in societies when wellbeing administrations are assessed. Indigenous individuals have explicit social insurance needs when contrasted with other non-indigenous individuals additionally they are explicit in nature. Some Indigenous individuals can't utilize such administrations because of their expenses, in this manner programs for improvement of wellbeing can go far giving fundamental offices of wellbeing to them. Information starting at 2016 mirrors that 33% of Indigenous individuals lived in urban areas, while half lived in inward and external distric ts. Most basic factor is that one out of five Indigenous individual lived in amazingly remote area(Fredericks, 2013). Their expanding populace has likewise discouraged absence of access to wellbeing office. Distinguishing the age partition and extent of individuals being Aboriginal and those being of Islander Strait can help decide explicit medical problems. Figure 2: Population of Aboriginal and Torres Strait Islander and non-Indigenous ATSIC has recognized presence of a lot of wellbeing administration related holes between the Indigenous and non-Indigenous individuals. Aside from such differences, there was enormous holes winning among male and female passing rates and wellbeing related files also. The program has had the option to distinguish the main sources of death and wellbeing differences among Indigenous and non-Indigenous populace, they have to manage those components separated from getting equality wellbeing administrations. Wellbeing related difficulties and sicknesses among Indigenous borne were found to have a solid positive connection with those of grown-ups and their parents(Katzenellenbogen, 2010). Consequently, requirement for preparing and teaching in regards to wellbeing factors must be distinguished as a significant piece of the program. Defense of Need Australian Aboriginal and Islander Strait people groups wellbeing is steadily improving yet isn't at standard with non-Indigenous individuals. The hole winning in wellbeing principles and access to wellbeing is colossal, however that is progressively lessening. Government alongside state level individuals are finding a way to relieve every single imaginable obstruction which can prompt better wellbeing of these individuals. In any case, such undertakings needs to proceed for by and large wellbeing viability and improvement of in reverse people(Gibson, 2000). There still stays expanded variables as work, pay, instruction and financial status that are making a partition to the entrance of wellbeing related office to Indigenous individuals. There needs to wellbeing progression programs, better recognizable proof of wellbeing related administrations which can be effectively assessable to Indigenous individuals. Indigenous individuals need financial and monetary advantages that will permi t them to benefit significant levels in social insurance. They additionally need instruction which may prepare them or assist them with creating aptitudes to such an extent that they can perceive the different explanations behind inconsistencies in wellbeing. Program should be directed with the end goal that a healthy strategy can be created and supported for long haul economical consequences for social insurance. Going to introductory degrees of medicinal services needs may resolve starting issues yet won't have long haul impacts(Walker, 2009). Along these lines, explicit program intended for producing mindfulness and to incorporate testing strategy is required. A healthy program covering different fundamental parts of teaching, preparing, expertise improvement alongside changing or affecting their lives on a lasting premise is basic. Rustic and suburb zones in Victoria has different information relating to Indigenous populace yet explicit issues can be analyzed once work is begun in the district to take care of their needs. Alongside preparing for raising wellbeing related mindfulness, there should be immunization of youngsters and grown-ups which will acquire elevated levels of expenses as the populace has risen strongly. Every single past program needed to either be ended or was rendered ineffectual because of absence of funds(Ziersch, 2011). In the event of accessibility of assets, appropriate projects can be created and actualized. A significant avocation for usage of program in the zone can be said by contrasting its normal score as that of against national principles. The region is falling a long ways behind when contrasted with national midpoints in death cases, baby death rates, infection rates, etc. There should be a fitting project built up that can prompt improvement of the region with the end goal that it can lead when contrasted with national normal scores. Victoria locale in instances of wellbeing norms have been better than expected in all cases. There is predominance of human services gauges and standards, there are likewise programs actualized that can oblige singular portions of the incomprehensibly populated zone. In any case, when all is said in done ATSIC is somewhat less viable in the area which has hampered it development since a delayed period. Further portrayal of populace in the ATSIC is relatively less, which has left the region to be ignored(Watson, 2007). Be that as it may, populace how ever enormous in number is fundamentally less when contrasted with different pieces of the nation. In the event that a program is created it can without much of a stretch distinguish people with requirements and afterward create projects to go to them. A particular program will permit defeating of the issue as against existing focuses of the territory and stay aware of national gauges. As government is finding a way to meet and hold fast to Indigenous individuals needs, a particular program attracted will help take into account the equivalent. Furnishes neighborhood information to contrast with or bolster distributed strategy with set up need Information is critical for investigation and comprehension of a few realities identified with Indigenous individuals particularly concerning their wellbeing related boundaries. Nearby information in connection wellbeing related components in gathered and examined in the Victoria region(Hannaford, 2013). Distributed poli

Romulus And Remus Essays - Roman Mythology, Amulius,

Romulus And Remus Numitor, King of Alba, had been removed by his ruthless sibling, Amulius. Amulius ensured Numitor would have no beneficiaries by compelling Numitor's lone youngster, his little girl, Rhea Silvia, to go through her days as a vestal virgin, serving in the sanctuary of Venus, goddess of the hearth. By the by, Rhea in this manner gave birth to twin young men, Romulus and Remus. Their dad was not a man, however Mars, god of war. When Amulius discovered what had occurred, he slew Rhea Silvia and had the two young men tossed into the Tiber River. The stream bore the twins securely shorewards, where they were found by a she-wolf who nursed them with her milk. The wolf took care of them until they were found by Faustulus, one of the old ruler's shepherds, who embraced them as his own. At the point when the young men were developed, Faustulus told them who their dad was and depicted their mom's destiny. Romulus and Remus retaliated for he by slaughtering Amulius, and they reestablished Numitor to the seat. They at that point chose to manufacture a city on the Tiber River. Understanding that just one of them could be its ruler, they looked for direction from the divine beings. Each climbed a high mountain to perceive what he could see. Remus saw a trip of six vultures, yet Romulus saw twelve. In this manner Romulus, deciding that the divine beings had supported him, started to establish the frameworks of the city of Rome. He furrowed a wrinkle to check where the dividers would be. In any case, Remus taunted him, jumping over the flimsy wrinkle and saying that Rome's foes would have the option to get over its dividers simply. Romulus was so angry he struck his sibling dead. The city was constructed. It had a ruler, however no residents. So Romulus proclaimed Rome's holy forest to be a haven, and it before long loaded up with criminals and escapees, whom Romulus invited as his subjects. In any case, there were still no ladies. So Romulus sorted out certain games furthermore, welcomed his neighbors, the Sabines. While the Sabine men were getting a charge out of themselves, he and his men stole away a considerable lot of the Sabine ladies to Rome. Grisly war followed, however in the end the ladies themselves halted the battling, asking their new spouses and their dads not to butcher themselves unnecessarily. Romulus, the author of Rome, was not to be its natural ruler for exceptionally long. For his dad, Mars, asked all-powerful Jupiter to make Romulus a divine being. At the point when Jupiter concurred, Mars plunged in his chariot and cleared Romulus away. The body of the living man softened immediately and inexplicably. From paradise, Romulus managed the ascent, and fall, of the extraordinary country he had established. As per legend, the city of Rome was established in 753 BC by Romulus, who was the child of Mars, the divine force of war, and Rhea Silvia, a human. The city, set on seven slopes, was most likely involved during the Bronze Age, however shows up in history in the eighth century BC. The Romulus legend appears to have begun in the fourth century BC. As per the story, after a fight with his twin sibling Remus, Romulus turned into the primary ruler of the new land before being vivacious away to Mount Olympus. He was as far as anyone knows followed by Numa Pompilius, an insightful ruler who is said to have added to the turn of events of the cutting edge schedule.

Requirements For Mental Health Technician (MHT) Essays - Psychiatry

Necessities for Mental Health Technician (MHT) 1. Must take post test after every video Recordings Are As Follows... a. Video is emergency Intervention b. Inebriation and withdrawal symptoms c. Self destruction 2. Peruse doled out books and sections and complete exercise manual inquiries. Section alloted are as per the following 1,2,3,4,12,13,14,15,16,17,18,19,20,21,22,23,24,(25-33) 3. Verbal conversation with a Registered Nurse (RN)/Scheduled Classroom address with Instructor (You will be informed of Classroom Lectures) 4. Required Quiz after every video/(Mandatory Test after educational program) Each understudy will be told on externship hours which they should get a handle on the social and verbal ideas. ( These are the themes that you should acquaint yourself with) Administrations PROVIDED: ? Admission and Referral Services ? Crisis Services ? 24 hr. emotional wellness emergency line ? Emergency Intervention Delegate ? Case Management Services ? Escalated ? General ? Geriatric ? Measurable ? Asset Coordination ? Early Intervention ? Measurable/Mental Health Services to province prison and court framework ? Emotional wellness Assessments and Recommendations ? Destitute/Housing Services ? Network Outreach Care Worker - Farrell/Wheatland ? Program Administration ? Contracted Services ? Mental, Psychiatric, Social ? Assessments ? Family Based Mental Health ? School Based Mental Health ? Outpatient Counseling ? Incomplete Hospitalization (grown-up and juvenile) ? Professional Rehabilitation ? Family Support for the Mentally Retarded ? Break Care for kids ? In-Patient Psychiatric Serv. (grown-up/young people) ? Aftercare ? Network Residential Services (CRR + CLA) ? Network Services (government funded instruction) ? Social Rehabilitation (*Mandatory test after every video. Compulsory test after fruition of all educational program course material.) ? Prescription Monitoring ? Early Intervention ? Youngster and Adolescent Service System (CASSP) ? AREA(S) SERVED Leon, Gadsen, Perry, Monticello, Chattohochee, and so forth.. Qualification FOR SERVICES: Emotional wellness/Mental Retardation finding Administrations PROVIDED: ? Promotion - for the benefit of intellectually sick people in state and national lawmaking bodies ? Transport/Van - month to month van administration to Warren State Hospital for friends and family to visit patients ? Care groups for overcomers of self destruction ? Recuperation Inc. for personal growth of mystic pressure ? Socialization undertakings for recouping people who have been intellectually sick ? Training of overall population in nature of dysfunctional behavior to expel shame ? Data and Referral to different treatment choices ? Amusement - social capacities for customers and previous customers of the directing administrations AREA(S) SERVED Qualification FOR SERVICES: Leon, Gadsen, Jefferson, Wakulla Open to any individual who is or has been a buyer of psychological wellness administrations Administrations PROVIDED: ? Profession Counseling ? Resume Writing, Job looking for expertise preparing, Interest testing, Job situation, Supportive and Transitional Employment Opportunities with Job Coaching administrations, Acquisition of regular backings. . AREA(S) SERVED Leon, Gadsen, Jefferson, Wakulla Qualification FOR SERVICES: People must meet qualification necessities for the PA Office of Vocational Rehabilitation (OVR) or be needing help with finding and keeping up work because of a current handicap. Private Services Administrations PROVIDED: Lodging administrations for Mental Health shoppers being discharged from an emergency clinic into the network or people in the network requiring Supported Housing administrations. Preparing is given in all day by day fundamental abilities, for example, planning, home upkeep, clothing, shopping, and so on in both a 24 hour Full consideration Group Home office or in Supported Housing. Qualification FOR SERVICES: People more than 18 years old, with an essential determination of emotional well-being, and an open case with the County's Base Services Unit. Conduct Health Services DAY/HOURS OF OPERATION: 24 hours, 7 days every week Administrations PROVIDED: ? Inpatient Psychiatric Services for youngsters, teenagers, grown-ups, and geriatrics ? Pathfinders Adolescent Partial Hospitalization program; a day treatment program for pained young people ? Representative Assistance Program ? Outpatient Mental Health Services accessible in ? Sharon, Hermitage, Greenville, Grove City, and New Wilmington ? Inhome mental administrations accessible through ? Home Health office ? Speakers Bureau ? Wraparound Services Coordination ? Guiding and Chemical Dependency Services ? New Directions ? Free Pre-Admission Assessments List of sources none

What is job analysis Essay Example | Topics and Well Written Essays - 500 words

What is work investigation - Essay Example Some portion of the purpose behind this is chiefs feel that they have been acquainted with the substance of the sociologies, human instinct, since their adolescence rather than, state, the substance of atomic material science or microbiology. This leads chiefs to depend on what they see as their experience-based information on human instinct in faculty dynamic. Employment examination is an orderly procedure for getting objective and definite data about occupations. It's anything but a solitary philosophy yet a conventional term speaking to a scope of methods. The information assembled might be as data on work undertakings, jobs, and employment holder credits pertinent to work execution (p. 9). In association, the job of employment examination has experienced administrators who do appear to have formed extensive understanding into human conduct. Because of long periods of viewing effective and fruitless entertainers specifically positions, they would now be able to make very much educated estimates with respect to which representative will be effective in those positions. This recognizing capacity, be that as it may, is probably going to be explicit to the positions and couldn't be viably applied to hierarchical improvement programs for workers in various word related claims to fame and levels of authoritative working. Occupation investigation is significant for viable enrollment since it permits certain normalization of set of working responsibilities. To impact the normalization and control for which systems are structured, they are introduced in a particular organization passing on data for a specific move to be made. The accomplishment might be just one stage in a progression of steps or the whole arrangement. When formalized along these lines, work examination methods should be followed plainly to accomplish their goals. At times special cases in work investigation might be made to a formalized procedure, yet all things considered the way of making an

Wicca Essays - Wicca, Modern Paganism, Contemporary Witchcraft

Wicca Religion The numerous puzzles and complexities of the religion of Wicca begin from the Celts, the druids of Britain and the secrets of the Cauldron of Cerridwen of Cerridwen and lessons of the change covered up in the account of Taliesin. The most seasoned realize European Wiccan practices really begin structure the antiquated districts in and around Mesopotamia, Egypt, Greece and Italy. In most any case this culture originates before the Celtic custom by at any rate a thousand years. In the Celtic grounds the druids encouraged what they called Mystery custom, which was a mix of indigenous conviction and outside impacts. Numerous individuals today accept that the druid faction was the enduring remainder of a prior Indo-European ministry, where the practices start, Old European is a area incorporating Italy and Greece and furthermore venturing into Czechoslovakia, southern Poland and the western Ukraine. These spots are viewed as where the establishment of the antiquated Wiccan secrets were made. The historical backdrop of the devotees to this religion when in the principal century BC the Celts were gotten between the extension of the Roman Empire along the Rhine and Danube what's more, the Germanic intruders structure the south. Before the century's over the Celts had lost their order on the landmass and were later held by the Romans who proceeded onward to attack and Britain, in the long run their way of life was changed by hundreds of years of roman occupation and the Roman Catholic Church. The old agnostic customs were crashed into an underground society where they made due inside the old religion of Wicca. The historical backdrop of the old religion returns similarly as the tracker assembles development into an agrarian network. The foundation of Wicca as a religion go back the extent that the Ice Age, when the human were painting and cutting pictures on cavern dividers. At the point when the tracker assemble, woodland staying people started to develop into a horticulture society they carried with them the Old Deity types of the wild. The Stag-Horned God of the backwoods was changed into the Goat-God of the field. The God of the woodland at that point turns into the God of the collect. The early predecessors of Wiccans' loved the incomparable Goddess, who is exemplified as the riddles of ladies. As the Great Goddess, she mirrored the puzzling and amazing nature of ladies to seep for days without becoming powerless and to bring forth another individual. Not exclusively was this force a secret to early men, it was additionally a riddle to ladies themselves. Out of the need to comprehend these capacities, the ladies detached themselves from men and framed female social orders. At the point when Wicca first got known to the general population, it was utilized to allude to the old pre-Christian European religion. The significance today has changed to fit the perspective on the Neo-Pagan and New Age ideas. In all actuality Wicca is a nature religion focusing on the energies that streamed over the earth. Legend discloses to us that incredible Gods who looked out for their adherents during the day by day course of nourishment social event and readiness and conveyed them securely from the fall of mankind. 1484, was the mistreatment phase of the witches which transformed into an wild pestilence. In the main year 41 individuals were executed and consumed in Como, Italy. In 1510, 140 witches were singed at Brescia and 300 more at Como, Italy 3 years after the fact. At Valcanoia 70 individuals were singed and the inquisitor professed to have another 5,000 under suspension Germany saw more than 6,000 executions what's more, northern figure around 50,000. In England, 1951, the remainder of the laws against black magic were revoked by parliament, not long after a restoration of the clique emerged in the Great British. During the 1950's and 60's Wicca developed and extended parts of Europe and into the United States and Australia. Numerous Wiccan and Neo-Pagans magazines were set up, there for making a system for the Pagan network. Two of the soonest best periodicals were Green Egg and Circle Network News which are as yet significant distributions today. The Wiccan Pagan Press Alliance (WPPA) presently servers as a system and emotionally supportive network for journalists and magazines in the Pagan people group. The essential lessons of the old Wiccan ways depend on the methods for nature and mankind's comprehension of otherworldliness as uncovered in the feeling of a sound network. The way of thinking shows normal kindness and regard for other people so that the quintessence of our otherworldliness can be found. Every extraordinary type of life are regarded, and everything is of equivalent significance. The main distinction is things are on various degrees of development,

Implications of Nurse Practitioners on Children - Free Essay Example

Introduction Nurse practitioners implications on children refers to the nurse related influences that affect children.   Normally, nurses plays a key role in providing quality health care to their patients. To maintain health standards in all healthcare units, certain ethical codes have been formulated to guide the professional in their daily activities. Therefore, this paper has been set to discuss in details the implications NP implications on children. How implications of nurse practitioners on children has been conceptualized and managed in the past Nurse practitioners are very responsible in providing high quality care to their clients. They are usually confronted with no doubt for various ethical challenges while performing their daily activities in accordance the required health regulations. They are actually faced with several ethical problems in their professional exercise, and therefore they should familiarise themselves with those ethics and the advantage realised when decisions are made based on ethical codes of conduct. The ethical codes have been put in use in previous years by several professions. Nursing, among other trusted professions, the universal ethical implications have also been severally used by almost all known professionals globally.   Besides, the first ethical codes were transnationally put in use for nurses and adopted by the International Council of Nurses in the year 1953 (Lines, Hutton, Grant, 2017).  Ã‚   The codes were meant to provide high quality health care to children. How the Ethical and Historical Tenets of Research Are Reflected and Addressed Reflective practices are mostly used but they have failed to define adquate nursing concepts. One of the reasons for this may be the lack of enough conceptualization of the reflection process. Subsequently, this claims that now is the best time to examine critically the notion of a reflective practice and have debate and research into the nature of nursing reflection. Further, the critical examination would enable experts to review recent nursing ideas and explore the concept of reflective practice relating to different types of practical knowledge.   Moreover, the plan would discuss and analyze critically the attraction of reflective practice to diverse interest groups and makes conclusions by examining the implications of reflective practice models for nurse educators. How perspective ethical and legal issues are offered as a result of such implications Due to ethical implications, the nurses are sensitive and do up to their level best to ensure that their moral duties are up held in order to increase survival rate of infants. It also puts emphasis on the significance of having a consent which is informed and always addresses only main ethical challenges in their daily practices. Furthermore, it shows the concern they have on how nurses should communicate especially with ethics practiced within the health centre committee in making decisions when faced by some of the ethical issues. Conclusion Historical and ethical implications of nurse practitioners should always be considered progressively. The right action plans enable authorities to make improvement on codes of behavior and the appropriate procedure for implementing them. Therefore, ethics should frequently be proofread and updates made at given intervals, while considering reflections from nurses in all parts of the world. References Bluebond Langner, M., Chambers, L., Lapwood, S., Noyes, J. (2017). Promoting high quality research with life limited children and their families: Establishment of a joint research group between Together for Short Lives and the Association for Paediatric Palliative Medicine. Journa of advanced nursing, 73(2), 283-285. Lines, L. E., Hutton, A. E., Grant, J. (2017). Integrative review: nurses roles and experiences in keeping children safe. Journal of advanced nursing, 73(2), 302-322.

The Reason Of Financial Crisis Happened In American Finance Essay - Free Essay Example

With the countries developing, people earn and get more and more money, and then they need to keep their money safe in a financial organization, which leads banks becoming. Normally, banks are primarily constitute by financial institutions that were exist some key functions such as accept deposits, take loans, money exchange, long-distance transfer money and others. All of these were appeared in Chinese Song Dynasty that during 960 and 1279. In 1823, Shanxi Banks became so popular, as a first bank in Chinese banks history. Their main functions were transferring large amounts of cash, introducing drafts from one branch to another in China. While, at the end of nineteenth century, 66.7 percentage of Piaohao were existed in most parts of China, which is a kind of bank. In Piaohao, it organised as single partnerships and the owners carried unlimited liability as a nationwide bank. In addition, there were many small native banks becoming during that time period, such as Qianzhuang. In the mid-eighteenth century, the first Qianzhuang likes a bank, which was traced in markets. Most of the Qianzhuang operated like commercial banks, which exchanged bills, managed local money exchange and discounted for the local business community in order to contrast with Piaohao. In Chinese banks history, Qianzhuang played an important role between banks and Chinese merchants; it grew many Chinese expansions in foreign trade. Then in earl y 1890s, western banks entered China. Li Hongzhang created a first foreign-Chinese joint bank in 1885, the Qing Dynasty. In 1897, Imperial Bank of China opened as a first modern bank for business, which was adopted internal management ways of HSBC and their senior managers were foreigners. While, it changed its English name in 1921, which called Commercial Bank of China. In 1905, the first Chinese central bank (Bank of the Board of Revenue) was established but it changed name to the Great Qing Government Bank after 3 years later. With the Piaohao all disappeared in 1911, Daqing Bank changed their name to Bank of China that still continued exist today. In the late of Qing period, there were three private banks (Xincheng Bank, National Commercial Bank, Ningbo Commercial and Savings Bank) appeared, which were created by private entrepreneurs without funding. And in 1912, the Bank of China was founded by the Government of the Republic of China, but its established until 1942. From the Northern Expedition to the Second Sino-Japanese War in 1937, which has been described, a golden decade in Chinese banks history. Modern Chinese banks allowed many industries loans and offered loans to rural areas. In December of 1948, the first Peoples Republic of China established and also the name used more than 30 years. While, 1949, the republic of China was established and then the Chinese banking systems also changed a lot. After the Chinese civil war, the central bank of China effectively raised inflation and also bring the nations finances under central control from 1949 to 1952. However, over that term, the banking systems were modified in order to suit the varying environments and new policies. In addition, the banking system was extended and diversified to meet the modification programs and the banking activities, during the 1980s. Since 1949, Chinese people build up their personal savings accounts in order to reduce the demand of goods and raise the amount of cap ital for investment, which under the Chinas leaders urged. In 1950s, the Agricultural Bank was created to facilitate financial operations in the rural areas. In the countryside savings were deposited with the rural credit cooperatives, which could be found in most towns and villages. On 1st October of 1954, Peoples Construction Bank of China (CCB) was built but in March of 1996, it was changed name to China Construction Bank. In the middle of 1980s, urban credit cooperatives related to the Chinese banking system. While, at that time period, the banking system still lacked some of the services and characteristics, only a few people used saving accounts and credit cards then in 1986, the first credit card (Great Wall) was created in order to change this situation. In 1979, China created the first foreign bank and in 1999 the Peoples Bank of China (PBOC) expanded their local currency to foreign banks. In January of 1984, the Industrial and Commercial Bank of China Ltd. (ICBC) has a limited company. Until 1987, the Chinese banking system included: Peoples Bank of China, Agricultural Bank, Bank of China, China Investment Bank, China Industrial and Commercial Bank, Peoples Construction Bank, Communications Bank, Peoples Insurance Company of China, Rural Credit Cooperatives and Urban Credit Cooperatives. In 2001, China entered into the World Trade Organization (WTO) that means Chinese banking system will become more competitive with other countries; it must be followed by the rule of WTO. And also, the structure of the banking organization was modified to suit the changing conditions and some new polices. Actually, when China went into WTO, consumers became worldwide, they purchase broad goods that made in China then it increased Chinese demand of goods and stimulated economic growth. In addition, the Chinese banking system can take loans, exchanged money to foreign banks or foreigners. When China entered into the WTO, it must be open their bank sector s to foreign banks in next five years. Then from 2001 to 2006, China allowed foreign banks to do business with foreign-invested companies and foreign individuals such as PBOC opened their branches to allow foreign-funded banks. Although, China has a slow started, it has already fulfil the WTO conditions nearly end of 2006. Because China opened its door for foreign countries then it got a rush growth of economic and GDP but it also took some risk, such as the global financial crisis in 2008. We all know, the global financial crisis happened in U.S. then it influenced to global. While, comparing to American, Chinese Banks got a less affected by the financial crisis that will show in graphs1, 2 and 3 in section 2.3.1, which are the interest rates and mortgage loan rates in China and America. Also in appendix, there are balance sheets, income statements and cash flows. We can see and compare these figures clearly in these graphs and tables, which was changed less than American banks from 2007 to 2011. In addition, there are many other figure results to illustrate the Chinese Agricultural Bank got less affected by the financial crisis than American banks. The writer will introduce more details in main body. In this essay, the writer main explain why was the Chinese Agricultural Bank less affected by the Financial crisis compared with the American Banks? First of all, the writer introduced the Chinese banking systems developing in the introduction. In the main body, the writer divided into 5 detail parts: firstly, the writer will give out a definition of financial crisis and explain why the financial crisis happened in American. Secondly, she will find out some difference between Chinese Banks and American banks in banking systems and policies. In this part, the main way is to analysis some data and balance sheets to prove the writers opinion. Thirdly, from above analysis and conclusion, the writer will describe some influences and changes by the financial crisis in Chinese Agricultural Bank. On the Fourth, the writer will discuss the Chinese Agricultural Banks disadvantages, and also some advantages in American banks. At the last part in main body, the writer will give out her opinion or advice about the Chinese Banking systems future developing and how to solve or avoid the financial crisis happen again. Then at last part, the writer will make a summary about this essay and her opinion. Literature Review Since 2008 when financial crisis occurred, the topic of why financial crisis happened is thoroughly discussed and researched from different aspects. A. Turner [1] concluded that the crisis is due to the interplay between macroeconomic imbalances and the development of financial market. Excessive saving rates in developing countries leaded to the explosion of macro imbalances which in turn triggered the financial development. Securitized credit instruments are the core of the innovation and expansion in the financial market. J.B. Taylor [2] held the opinion that frequently monetary excesses are the cause of the crisis which is the same with the classic explanation for financial crisis. The loose fitting monetary policy from 2000 to 2006 is blamed for stimulating the financial crisis. House boom also is the key element in the process of building up to financial crisis. C. M. Reinhart and K. S. Rogoff [3] examined the crisis in 2008 through the all the historical record to see whether this crisis is an unusual problem compared with previous banking crisis after WWII. Results show that they share several similarities both in quantitative and qualitative aspects. Petro-dollar plays an important role in forming the account surpluses. All of the paper mentioned above discussed the cause of financial crisis from the economic aspects, R. B. Adams [4] analysed the impact of weak governance on financial firm in this crisis. The research reveals that recent governance reforms should also be blamed for its insufficient supervision. Several suggestions are given in terms of improving the management of financial firms especially banks. Since 2008, the aftermath of financial crisis emerged gradually which presented a different social and economic patterns compared with previous years. However the actual effects vary from each regions and different countries due to their characteristics in economic and political systems. M. Castells et al [5] look at the culture transforma tion after financial crisis which includes economic culture and political culture. The profiles of the world in post financial crisis are described in details. C. M. Reinhart and K. S. Rogoff [6] use data of many countries to show the changes of several key indicators throughout the crisis such as housing prices and equity price. Most importantly, governments debt exploded mainly because of the collapse in tax revenues and economic contractions. The rises of debts in the future are also estimated with a conservative view. P. Berkmen et al [7] in 2009 exlpained the different impact of financial crisis on ranging of developing countries and markets. The research aims to understand the impact through investigate a small set of variables and parameters. Eventually results revealed that the countries with domestic financial system of more leveraged and faster credit growth are more likely to be affected by the financial crisis. A large decline in their growth outlook has higher chance of occurrence. To be more specific, the impact of financial crisis on each individual country is well researched. China is studied by Ligang Liu in 2009 [8] by showing empirical evidence and quantifying the effect from different aspects in China. Data of Investment share, Growth in exports, inward FDI (Foreign Direct investment) and private consumption expenditure during 1980 to 2008 illustrate the trends and changes of Chinese economy throughout the financial crisis. And also the fiscal stimulus package that was conducted by Chinese government is discussed with respect to its influence and side effects. J.Ghosh et al [9] at the same time evaluated the extent that Indian suffered from the recession. Writer criticised the opinion that Indian would less affected by this crisis and pointed out that the economic development in India depends on global integration. Hence the economic system becomes vulnerable to both internal and external crisis. As we can see from the previous paragraph s, the impact of financial crisis has reached almost every country and market in the world. The whole incident involves from a national crisis to international and global crisis. For a specific country, the influences cover every corner ranging from economic, political to social and financial aspect. Especially on economic aspect which has been discussed above, direct influence is obvious and significant. While banking systems is a fundamental element and representative in economic and financial system, it also has been paid a lot of attentions in terms of its changes and impact. M. Clerides and C. Stephanou [10] introduce the changes of the banking systems in Cyprus after the financial crisis. The writers pointed out that banking system should be cautious of disproportionally expansion (which is relative to the economys size) for domestic banks. Policy responses that have been taken to date by the government are also presented. Similarly the impact of financial crisis on the bankin g system of Kazakhstan is demonstrated by V. Anichshenko [11], in which the consequences of the crisis and resolution of it are also mentioned accordingly. Suggestions are given in order to stabilize the economy and avoid the default of banks. According to the literature review, the solutions and suggestions that have been given share great similarities in terms of financial regulation reform. Lessons are learned from the past failure. For instance, Tuner [1] held the opinion that regulators were concentrated too much on the institution by institutions regulation of idiosyncratic risk and central banks were mainly focused on monetary policy which was tightly defined to meet inflation targets. Current supervision failed to take large current deficit, rapid credit extension and house price increase and the purchase of mortgage securities in to consideration as a whole. Hence the overall system risk climbs along with the development of financial market. Novel approach to capital ade quacy, liquidity and regulation by economics substance are the three most important and fundamental methods needs to be implemented. For more details, please refer to the paper written by Tuner. However, not all the advices are exactly the same due to the different economic system and condition in different countries [12]. The research aims to analyse the impact of financial crisis on Chinese banking systems and provide practical advices to the future development of Chinese banking systems. Hence the corresponding solutions and advices for Chinese banking systems should take into their own characteristic into consideration. China, as the second large economic entity in the world and closely connected with the American in many aspects, is also significantly influenced by the financial crisis. William H. Overholt [13] evaluated the extent that China was affected by the financial crisis and introduced the policy and strategies that were implemented during the financial crisis. Altho ugh the stimulus package successfully help the Chinese economy recover from the big recession, systematic problems still remain unsolved. Especially in the banking systems, E. Geretto and R. Pauluzzo [14] pointed out the disadvantages of Chinese banking system and the possibilities of improvement in the future. At the same time, J. Du and S. Girma examined Chinese banking industry from the parameters of cost economies, efficiency and productivity growth. Both of the papers reveal the potential of Chinese banking system in dealing with financial crisis in the future. Based on the literature review, in the past few years, there arent a lot of works focusing on comparing the banking systems between China and America. Not to mention that the Chinese and American banking systems are discussed together under the background of financial crisis. Main Body According to the Chinese banking systems history, the writer will mainly describe Chinese Agricultural Banks in the financial crisis. 2.1 The reason of Financial Crisis happened in American In 2008, we all know, the global financial crisis happened and it leaded to worst influence in the world, which made a lot of people lose their jobs and many companies went bankrupt and other bad situations. The financial crisis made many people and companies worried their current situation. What is financial crisis? How it made a bad situation in the world? Actually, when some financial institutions or assets suddenly lose a large part of their value, this phenomenon called financial crisis. It was triggered by liquidity short term fall down in the United States banking system and it was resulted in the collapse of large financial institutions, such as the financial crisis in 2008 was beginning under financial institutions fail in United States, then the failed financial institutions d riven by houses bubble. Because Americans house price grew up rapidly and also government used credit or encourage more people to get credit in banks to purchase or rent assets. During that term, Americans banks provided more convenient conditions to take people get loan easily and banks need to take more risk. While, at that time, Federal Reserve System increased interest rate then US houses market dropped down, the mortgages (houses) were less than their true value, which leaded high percentage of default then banks have higher risk. This situation called houses bubble collapsed, which rose to subprime financial or mortgage crisis in 2006. It caused the values of securities tied and damaged financial institutions globally. In order to transfer these risks, American banks created some innovative methods: MBS (Mortgage Backed Security), CDS (Credit Default Swaps) and CDO (Collateralized Debt Obligations) to attract global companies appreciate. The MBS is a bond that likes a pool of mortgages to pay by homeowners. CDS is a kind of credit derivative market, which includes interest rate swaps and foreign exchange swaps. CDO is a kind of structure asset-backed security; the debt obligations are including loans and bonds. Lehman Brothers hold a lot of MBS, CDO and CDS bonds, when Americans houses price decrease, all of the bonds must be shift to debt and then Lehman cannot take these bonds to invest or buy any goods. Their current liabilities were higher than current cash flow then it went to bankrupt. After the Bear Stearns bankruptcy in March 2008, Lehman Brothers Holdings Inc. was falling down that is a significant event that leading to the 2008 global financial crisis. The Lehman Brothers bankruptcy was leaded by the Americans subprime mortgage crisis; it was not only a fourth largest investment bank in US but also a global financial services firm, which connected with many countries financial organizations. When it went bankruptcy, a huge number of compa nies fall in trouble then this pushed the global financial crisis happened in 2008. Actually, in the introduction of this essay, the writer introduced China jointed into WTO in 2001 and after next 5 years, China finished the condition that most foreign company in China. This raised Chinese import and export trading business. When the financial crisis happened in American, then China also got some influence in many parts such as Chinese banks. 2.2 Banking systems in American and China (Big Four) The reasons that financial crisis happened are indicated in section 2.1. But what is the exact impact of financial crisis on banking system in terms of their annual performance and financial balance sheet? Before analysis the influence by the financial crisis on banking systems, we need to know the banking systems in American and China first, and then find out some difference between them. There is really interesting, the two countries are all existing Big Four in banking system. However, it is totally different, not only their names but also their baking systems and business. 2.2.1 Chinese Big Four In China, the Big Four banks included Agricultural Bank of China (ABC), the Bank of China (BOC), Industrial and commercial Bank of China (ICBC) and Peoples Construction Bank or China Constructions Bank (CCB). The Big Four had the primary responsibility to fund the countrys state-owned enterprises in the 1990s in China. Then the writer will introduce them respectively. ICBC is the largest lender of assets in China and also the youngest in the Big Four. It was founded in 1984 and issued the primary bank card in 1989. Since 1991, the ICBC was gained federal approval to establish a branch in New York City. As the first one in China, the ICBC established a branch outside of China in 1992 and opened a branch in Europe after 3 years. ICBC was Chinas first step as a representative in the international banking area and in 2008; it became the 2nd Chinese bank. The Bank of China (BOC) was founded in 1912 and it took responsibility of allocating foreign exchange reserves, setting the exchange rates under the Chinese currency, arranging foreign loans and other foreign operations. In 1928, the Chinese Central Bank of China replaced its role then the BOC became a purely commercial bank. In December of 2010, the Bank of China as a first Chinese bank to offer RMB products in New York. The BOC is the largest lender to non-institutions and foreign exchange lender in China. ABC is primarily focus on retail banking as Chinese 3rd largest lender by assets. It was founded in 1951 to assist financial operations in the rural areas then it provided financial supports to agricultural units, loans, handled state appropriations, directed the operations of rural credit cooperatives and carried out overall supervision of rural financial affairs. The rural credit cooperatives are small-scale financial services in country side, such as this kind of small sca le need to follow uniform state banking policies but it acted as an independent unit for accounting purposes. CCB was managed state and loans for capital construction but it reformed policy in order to increase the responsibility and activities in banking system. Then it has shifted the main activity of investment funding from the government budget to bank loans. The China Constructions Bank checked the loan recipients to ensure the funds were used for their designated construction purpose. CCB is a member of the Global ATM Alliance, which means, under the Global ATM Alliance, CCB can joint venture in several major international banks, it allows customers use the ATM card or check card at another bank without any charging fees. 2.2.2 American Big Four Unlike Japan and United Kingdom only have one bank regulator that authority over the banking, securities and insurance industries is combined into one single financial service agency, but United States regulated at both the fe deral and state level in banking system. The central banking system of the United States called the Federal Reserve System and the Great Depression as a major factor to lead changes in this system. In today, the Federal Reserve Systems duties to conduct the nations monetary policy, supervise and regulate banking institutions, maintain the stability of the financial system and provide financial services to depository institutions. In American, the Big Four called: JPMorgan Chase, Bank of American, Citigroup, and Wells Fargo. According to assets in United States, the JPMorgan Chase is the largest bank. It mainly works multinational, which likes banking corporation of securities, investments and retail. There are mainly six business segments in JPMorgan Chase: card services and consumer lending, commercial banking, investment banking, asset management, corporate, treasury securities services and other personal and business banking operations. Bank of America (BA) is also a multinational bank and financial services corporation. It was the worlds largest wealth management corporation as a major player in investment banking market in 2008. It also a member of Global ATM Alliance as China Construction Bank then when people get an ATM card in BA but used in CCB, they do not need to pay any more charge. Then in 2005, Bank of America got 9% stake in China Construction Bank (CCB). Actually under the Global ATM Alliance, a lot of international banks connected with other banks. Citigroup (Citi) is a multinational financial services corporation headquarter in US as a 3rd largest retail bank that based on deposits. In the Citigroup, US government engineered at least 4 different rescues. And it was one of the worlds largest mergers that combining huge Citicorp and financial business. Citibank as one part of Citigroup is the largest bank, credit cards issuer and charge cards in the United States. It is also the first and only one international bank without any cooperation with Chinese domestic banks to issue credit cards used its own brand. With the subprime mortgage crisis began, Citigroup was exposure into toxic mortgages in CDOS and also under poor risk management then led Citi into serious trouble. Under these reasons, in 2008 the global financial crisis, Citigroup took huge losses but it got a massive stimulus from US government to rescue. Although the Citi took huge losses, it built up a giant cash reserve 420 billion. The Wells Fargo was mainly focus on operations in the world as a multinational diversified financial services company then then Wells Fargo Bank is primary focus on US operating subsidiary. It is the largest bank by market capitalization with over 80 different financial services. 2.3 Financial crisis in American and China (ÃÆ' ©Ãƒ ¢Ã¢â€š ¬Ã‚ ¡Ãƒ ¢Ã¢â€š ¬Ã‹Å"ÃÆ' ¨Ãƒâ€¦Ã‚ ¾Ãƒâ€šÃ‚ ÃƒÆ' ¥Ãƒâ€šÃ‚ Ãƒâ€šÃ‚ ±ÃƒÆ' ¦Ãƒâ€¦Ã¢â‚¬Å" ºÃƒÆ' ¥Ãƒ ¢Ã¢â€š ¬Ã‚ °Ãƒâ€šÃ‚ ÃƒÆ' ¥Ãƒâ€šÃ‚ Ãƒâ€¦Ã‚ ½ÃƒÆ' ¦Ãƒ ¢ â‚ ¬Ã‚ ¢Ã‚ °ÃƒÆ' ¦Ãƒâ€šÃ‚ Ãƒâ€šÃ‚ ®ÃƒÆ' §Ãƒâ€¦Ã‚ ¡Ãƒ ¢Ã¢â€š ¬Ã… ¾ÃƒÆ' ¥Ãƒâ€šÃ‚ Ãƒâ€¹Ã…“ÃÆ' ¥Ãƒâ€¦Ã¢â‚¬â„¢-) From above, we can get more details information about Chinese and American Big Four banks. Then the writer will take the banks performance graphs to illustrate the exact impact by the financial crisis on banking systems. Firstly, the writer according to the Chinese and American banks annual performance from pre-financial crisis to post financial crisis, get a summary and graphs to prove that Chinese banks got less influence than American by the financial crisis. 2.3.1 First to introduce the Central bank of Chinas loan rate and interest rate to compare with American (Federal Reserve System) Following section 2.2, we get these banks business clearly. In order to make the conclusion clearly and simplicity, the writer separates these banks into 4 parts: ABC to Citigroup, CCB to BA, BOC to JPMorgan Chase and Industrial Commercial Bank to Wells Fargo, be cause they are doing similar main banking business, such as: the Agricultural Bank of China and Citigroup are mainly doing retail banking business and the same to others. Before comparing them separately, we need to know the interest rate on loans. In China, the Central Bank (Peoples Public of China) publishes loan rate according to consumers supply and demand chain, economic environment and other reasons. Because the loan rate changed like with 4 different period times: less than 6 months, between 6 months to 1 year, 1year to 5 years and up to 5 years, then the writer only make one graph clearly to illustrate result. From 2007 to 2011, the loan rate changed in China under below graph that same as the interest rate and deposit rate. In the graph, the Central Bank changed rate nearly more than 5 times per year, especially from 2008 to 2010 the financial crisis period. In 2008, the loan rate changed dramatically that shows on the graph. At the beginning of 2008, it dropped a lit tle but start at July, the loan rate felled down sharply that is under 5% in the less than 6 months loan rate. However, from September 2010, the Central Bank of China started to increase the rate. According to describe the loan rate of China, Federal Reserve System also control the interest rate on loans in America. Below the graph, we see the interest rate on loans dropped dramatically from 2007 when the housing prices went down, which reached 3.25% until 2009 then got stabilized to 2011. In American Interest Rates graph, the interest rate reached 0.25% as historic lowest from 2009 to 2010. The lower interest rate made consumers borrow money for investment because it makes consumers disposable income increase and then increased the demand of items to stimulant economy. Comparing to the changes of interest rates, we can get the Chinese banking systems influenced less than American, because from 2008 to 2009, the interest rate in China got a little bit climbing. And also at the end of 2010, the interest rate increased dramatically. That means the Chinese economic recovery from 2011. On the contrary, the American interest rate still keep historic lowest from 2009 until now that is easily to illustrate the Chinese banking systems got less influenced by the financial crisis than American. Of course, there are many details in the Big Four banking to certify this consequence, in section 2.3.1; the writer will describe them separately. 2.3.1 Their Big Four balance sheets In todays, most banks are doing many area businesses such as commercial, investment, retail and others, and also their businesses are not divided clearly. In order to compare the influenced by financial crisis, the writer will compare them separately that according to their main business then divided them into some groups. Actually, when the financial crisis happened that influenced many areas such as share price, mortgage loans, interest rates and unemployment rates and others. Then a mong all of the areas, the most significant ones are chosen to show the impacts of financial crisis. The first compare group is the Agricultural Bank of China (ABC) to Citigroup under their main business of retail banking, which is implement transactions with consumers directly not to other banks or corporations. It includes personal loans, savings, mortgages, transactional accounts, debit and credit cards. With these businesses, the financial crisis was influence in personal loans, savings, mortgages and credit cards. Then the writer compares them in Resident Mortgage Loans, Net Income, Number of Employees and other parts to explain the Agricultural Bank of China got less affected. ABC share price Citigroup share price From above Resident Mortgage Loans, the Agricultural Bank of Chinas personal mortgage loans were increasing dramatically but the Citigroups showed a slow and continuous decrease that means when Chinese Central Bank drop the interest rate from 6.5% to 5 % in 2007-2009, it took an outstanding result in stimulate resident mortgage loans but in contrary with Citigroup. No doubt, the financial crisis made heavily unemployment. Then under the number of employees in ABC and Citigroup, we can see the ABCs employees not changed too much from 2007 to 2011 but in Citigroup, the number of employees decreased obviously during 2007-2009. That means, the Citigroup unemployment rate raised greatly during the financial crisis. Although the Net Income in income statements has influenced by many parts, it released to negative of Citigroup in 2008 that mainly affected by the financial crisis. Comparing to ABC, the net income still keep positive from 2007 to 2010. From the history and graph of share price in ABC, it went public with A (Shanghai Stock Exchange) and H (Hong Kong Stock Exchange) in July 2010, then we cannot see the share price in above. However, in the above graph, we can see the Citigroups share price was dropping down sharply from 500 to 45 from 2007 to 2009. Secondly, the China Constructions Bank (CCB) and the Bank of America (BA), they are mainly focused on investment banking. The investing banks support individuals, government and corporations to increase their capital. Under the financial crisis, Bank of America got badly hurt but Chinese Constructions Bank is still earning money with the Chinese economy expand. The result shows under below graphs: Resident mortgage loan Number of employees CCB share price BA share price With the resident mortgage loan graph, the BAs personal mortgage loan looks stabilize from 2007 to 2011. Conversely, the CCB got specifically increase from 2008 under the Chinese Central Bank reduce interest rate. From the net income graph in China Constructions Bank and the Bank of America, we can see CCB increased radically from 2007 to 2011 but BA has a converse line, it got a slowly reduce that was nearly to negative net income. In share price graphs, the CCB reduced from 8 to 3 nearly drop 62.5% but in BA, it was decreased more than 90%. The Bank of China, JPMorgan Chase, Industrial Commercial Bank of China and Wells Fargo are all describe in up four areas: Resident Mortgage Loan, Net Income, Number of employee and share prices. The result is similar, which shows the American banks were influenced higher than Chinese. 2.4 The difference in banking system between American and China (ÃÆ' ©Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€¦Ã‚ ¡ÃƒÆ' ¨Ãƒâ€šÃ‚ ¿Ãƒ ¢Ã¢â€š ¬Ã‚ ¡ÃƒÆ' ©Ãƒ ¢Ã¢â€š ¬Ã‚ ¡Ãƒ ¢Ã¢â€š ¬Ã‹Å"ÃÆ' ¨Ãƒâ€¦Ã‚ ¾Ãƒâ€šÃ‚ ÃƒÆ' ¥Ãƒâ€šÃ‚ Ãƒâ€šÃ‚ ±ÃƒÆ' ¦Ãƒâ€¦Ã¢â‚¬Å" ºÃƒÆ' §Ãƒâ€¦Ã‚ ¡Ãƒ ¢Ã¢â€š ¬Ã… ¾ÃƒÆ' ¥Ãƒâ€šÃ‚ ½Ãƒâ€šÃ‚ ±ÃƒÆ' ¥Ãƒ ¢Ã¢â€š ¬Ã…“ ÃƒÆ' ¥Ãƒ ¢Ã¢â€š ¬Ã¢â€ž ¢Ãƒâ€¦Ã¢â‚¬â„¢2.2ÃÆ' ¦Ãƒâ€šÃ‚ Ãƒâ€šÃ‚ ¥ÃƒÆ' ¥Ãƒâ€¹Ã¢â‚¬  Ãƒ ¢Ã¢â€š ¬Ã‚  ÃƒÆ' ¦Ãƒâ€¦Ã‚ ¾Ãƒâ€šÃ‚ ) According to the structure and business in Big Four of America and China, the Chinese banks got less influenced. What leads Chinese banks got less affected? To answer this question, the writer finds some difference in banking systems between these two countries. The US banking system is the largest one in the world, and from the section 2.2, we know the Federal Reserve System is the central bank in America that likes that the Peoples Bank of China, which provides more flexible, stable monetary and financial system to banks. The two central banks are mainly controlled by their countries government separately and also their all losses will eventually to its government. Nonetheless, there still have some difference performances between two countries in earlier and poster the financial crisis. According to their many difference parts in banking systems, the writer picks up some important point to illustrate and analysis. 2.4.1 Regulations different The firstly and mainly important differ is banking supervision. Banking supervision must exist in every countrys financial system that makes sure the financial institution safety and soundness, it involves monitoring, examining and inspecting banking organizations and also it assess customers conditions that relevant to laws and regulations. However, American and Chinese banking supervision are distinct: regulatory framework and the basic problem in financial markets are different. We all know, the American financial market has a laisser faire [1] idea, then it took most banks more rely on their own control and management. In addition, the American financial regulatory system consists of state and Federal supervision. The banks are not only regulated by the Federal but also each state has their own supervision organizations, which is looser to banks than Federal. From 1963, the US government was helping and encouraging homeowners to buy houses under the US houses prices dramatically increased condition. And then the central bank of America (Federal Reserve System) dropped the interest rates dramatically from 1984 to 2008, which showed in section 2. 3.1 graphs, which government wanted customers loan more money from banks to invest in order to stimulate economy. In addition, every bank was hoped to earn more profits than others then during that time, they took out some lower and looser loan conditions for customers. For example: JPMorgan Chase did not request customers repay ability to loan and also it allowed homeowners without putting deposits for mortgage. Conversely, Chinese regulation system is diversified, which are mainly divided into 3 parts: CBRC (China Banking Regulatory Commission), CSRC (China Securities Regulatory Commission) and CIRC (China Insurance Regulatory Commission). The CBRC is according to their main business to supervise such as commercial banks, policy banks and others. The CSRC and CIRC are supervision in securities, futures, funds and insurance area separately. The Chinese supervision is indicated that the Central bank has responsibility to control and regulation macro-economic but at the same time, there still has other supervision organizations in micro-regulation. This type of supervision called institutional regulation, which is improving the professional level of regulation then to get their target easily. From section 2.3.1, we all know America and China were all reduce their interest rate from 2007 to 2009, while, Chinese central bank was only dropped 1.05% that is much less than American. In addition, Chinese banks are regulated by many parts as we mentioned above. Hence Chinese banks are strictly constrained and have limited rights to conduct mortgage activities based on their own benefit purpose. In Chinese regulation system, the CBRC strengthen combines financial supervision and market discipline together and also these prevent financial risk effectively and firstly. On the above of this regulation, Chinese banking systems regulation request banks must meet clients in person and also customers must comply with basic lending conditions, which reduce a lot of finan cial risk than other regulations. However, the institutional regulation also contains some disadvantages such as hard to coordinate these regulation organizations between each other, and this regulation too large that needs to spend a higher cost than others. In addition, this type regulation is easily to repeat some supervision questions, which is especially for universal banks but in todays, most banks are developing to universal such as ABC, CCB and other Chinese banks. 2.4.2 Other implements in banking system before the financial crisis At present, the American banks are mainly focus in mixes management, they can operate securities, insurance and other trust business but Chinese banks are primarily running traditional business (loan business), which showed details in section 2.2.1. Before the financial crisis happen, the American banks changed a large number of assets to securitization and then packed them like a high credit rating lower risk bonds such as CDO, CDS, the n bought too much. At last, these bonds leaded many banks in heavy losses. For example: In the mid-2006, JPMorgan Chase created CDO bonds as initial stake then the JPM turned it into investment that sold to international. However, next year, the JPMorgan Chase was crashed by the houses price went down suddenly. And also, during that time, the Bank of American also crisis by excessive leverage and it suffered by the subprime mortgage market. According to the global financial crisis, the JPMorgan took two mistakes: it made too many leveraged loans and also procured lower mortgages underwriting the banks standards conditions. Nevertheless, Chinese banks did not influence by the financial crisis too much, they are mainly suffered by global economic recession that showed in section 2.3.1. 2.4.3 American banks advantages Although, the American banks suffered heavily by the financial crisis, the regulation banking systems still exist some advantages that we need to learn. From sectio n 2.4.1, we know the American banks used Federal and State regulation that is the most prominent feature in banking regulation. In the American law, it mainly empowers to Federal and states to regulate commercial banks rights, while, other organizations also participate the commercial banks regulation such as FRS, FRIC. This kind of regulations is effectively supervision and controls the commercial banks behavior and also defuses some financial risks. Comparing with the Chinese reinforcement management, American banks regulation is more focus on cooperation and coordination between regulators and regulated. For example: In American the regulation administration has a good relationship with banks, which makes America become the most financial activities and also the most strictly and depth financial regulation country. In addition, under a mixed operation situation, the American banks took out a special regulation (Umbrella Supervision) []. ÃÆ' §Ãƒâ€šÃ‚ ¾Ãƒâ€¦Ã‚ ½ÃƒÆ' ¥Ãƒ ¢Ã¢ ‚ ¬Ã‚ ºÃƒâ€šÃ‚ ½ÃƒÆ' ¨Ãƒâ€šÃ‚ ¿Ãƒ ¢Ã¢â‚¬Å¾Ã‚ ¢ÃƒÆ' §Ãƒâ€šÃ‚ ÃƒÆ' ¥Ãƒâ€¦Ã¢â‚¬Å" ¨ÃƒÆ' ¤Ãƒâ€šÃ‚ ¸Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬ÃƒÆ' ¥Ãƒâ€šÃ‚ ®Ãƒâ€¦Ã‚ ¡ÃƒÆ' ¦Ãƒâ€ Ã¢â‚¬â„¢Ãƒ ¢Ã¢â€š ¬Ã‚ ¦ÃƒÆ' ¥Ãƒ ¢Ã¢â€š ¬Ã‚  Ãƒâ€šÃ‚ µÃƒÆ' ¤Ãƒâ€šÃ‚ ¸Ãƒ ¢Ã¢â€š ¬Ã‚ ¹ÃƒÆ' ©Ãƒ ¢Ã¢â€š ¬Ã‚ ¡Ãƒ ¢Ã¢â€š ¬Ã‚ ¡ÃƒÆ' ¥Ãƒâ€šÃ‚ -ÃÆ' ¤Ãƒâ€šÃ‚ ¸Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬ÃƒÆ' ¥Ãƒâ€šÃ‚ ®Ãƒâ€¦Ã‚ ¡ÃƒÆ' §Ãƒâ€¦Ã‚ ¡Ãƒ ¢Ã¢â€š ¬Ã… ¾ÃƒÆ' §Ãƒ ¢Ã¢â€š ¬Ã‚ ºÃƒ ¢Ã¢â€š ¬Ã‹Å"ÃÆ' §Ãƒâ€šÃ‚ ®Ãƒâ€šÃ‚ ¡ÃƒÆ' ¦Ãƒ ¢Ã¢â€š ¬Ã‚ °Ãƒ ¢Ã¢â€š ¬Ã‚ ¹ÃƒÆ' ¦Ãƒâ€šÃ‚ ®Ãƒâ€šÃ‚ µÃƒÆ' ¤Ãƒâ€šÃ‚ ¹Ãƒâ€¦Ã‚ ¸ÃƒÆ' ©Ãƒâ€¦Ã¢â‚¬Å"à ¢Ã¢â‚¬Å¡Ã‚ ¬ÃƒÆ' ¨Ãƒâ€šÃ‚ ¦Ãƒâ€šÃ‚ ÃƒÆ' ¦Ãƒâ€¹Ã¢â‚¬  Ãƒ ¢Ã¢â€š ¬Ã‹Å"ÃÆ' ¤Ãƒâ€šÃ‚ »Ãƒâ€šÃ‚ ¬ÃƒÆ' ¥Ãƒâ€šÃ‚ ­Ãƒâ€šÃ‚ ¦ÃƒÆ' ¤Ãƒâ€šÃ‚ ¹Ãƒâ€š 2.5 The effects and changes of Chinese banking systems in post financial crisis (advantages, disadvantages of banking system in China) (ÃÆ' ©Ãƒ ¢Ã¢â€š ¬Ã‚ ¡Ãƒ ¢Ã¢â€š ¬Ã‹Å"ÃÆ' ¨Ãƒâ€¦Ã‚ ¾Ãƒâ€šÃ‚ ÃƒÆ' ¥Ãƒâ€šÃ‚ Ãƒâ€šÃ‚ ±ÃƒÆ' ¦Ãƒâ€¦Ã¢â‚¬Å" ºÃƒÆ' ¥Ãƒâ€šÃ ‚ ¯Ãƒâ€šÃ‚ ¹ÃƒÆ' ¤Ãƒâ€šÃ‚ ¸Ãƒâ€šÃ‚ ­ÃƒÆ' ¥Ãƒ ¢Ã¢â€š ¬Ã‚ ºÃƒâ€šÃ‚ ½ÃƒÆ' ©Ãƒ ¢Ã¢â€š ¬Ã…“ ¶ÃƒÆ' ¨Ãƒâ€šÃ‚ ¡Ãƒâ€¦Ã¢â‚¬â„¢ÃƒÆ' §Ãƒâ€šÃ‚ ³Ãƒâ€šÃ‚ »ÃƒÆ' §Ãƒâ€šÃ‚ »Ãƒâ€¦Ã‚ ¸ÃƒÆ' §Ãƒâ€¦Ã‚ ¡Ãƒ ¢Ã¢â€š ¬Ã… ¾ÃƒÆ' ¥Ãƒâ€šÃ‚ ½Ãƒâ€šÃ‚ ±ÃƒÆ' ¥Ãƒ ¢Ã¢â€š ¬Ã…“ ÃƒÆ' ¤Ãƒâ€šÃ‚ »Ãƒâ€šÃ‚ ¥ÃƒÆ' ¥Ãƒâ€šÃ‚ Ãƒâ€¦Ã‚  ÃƒÆ' ¥Ãƒâ€šÃ‚ ®Ãƒâ€ Ã¢â‚¬â„¢ÃƒÆ' ¤Ãƒâ€šÃ‚ »Ãƒâ€šÃ‚ ¬ÃƒÆ' ¦Ãƒâ€¹Ã…“ ¯ÃƒÆ' ¦Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€¦Ã‚ ½ÃƒÆ' ¤Ãƒâ€šÃ‚ ¹Ãƒâ€¹Ã¢â‚¬  ÃƒÆ' ¥Ãƒâ€šÃ‚ ºÃƒ ¢Ã¢â€š ¬Ã‚ ÃƒÆ' ¥Ãƒâ€šÃ‚ ¯Ãƒâ€šÃ‚ ¹ÃƒÆ' §Ãƒâ€¦Ã‚ ¡Ãƒ ¢Ã¢â€š ¬Ã… ¾ ÃÆ' ¥Ãƒ ¢Ã¢â€š ¬Ã‚  Ãƒ ¢Ã¢â‚¬Å¾Ã‚ ¢ÃƒÆ' ¥Ãƒ ¢Ã¢â€š ¬Ã‚ ¡Ãƒâ€šÃ‚ ºÃƒÆ' ¤Ãƒâ€šÃ‚ ¼Ãƒâ€¹Ã…“ÃÆ' §Ãƒâ€šÃ‚ ¼Ãƒâ€šÃ‚ ºÃƒÆ' §Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¹) According to above sections, we know the financial crisis influenced to Chinese banks. But what types of influences are there and what are the responses from Chinese banking systems to deal with the crisis need to be elaborated. In this section, the writer will talk about t he effects and changes in details. In fact, the Chinese banking systems impacted by the global financial crisis were showed in banks risk degree changes. Actually, when the financial crisis happened, there were two kinds of effects showed: direct and indirect. The directly risk degree changes are the financial crisis directly affected to Chinese banks foreign exchange market and shareholding structures. While, the indirectly influence is caused by the global economic recession that leaded by the global financial crisis, which made Chinese macro-economic, foreign trade, financial monetary policy and others changed then it affected the Chinese banks risk degree. The main influences are showed into 4 parts: Chinese banks profit loss, ownerships structure changed, the quality of assets decline and the potential risks increase. Firstly, according to the section 2.1, we know the Chinese banks affected directly by the financial crisis, when dollar securities prices went down that impaired a domestic Chinese banks foreign exchange decrease and it directly leaded Chinese banks actual loss. After China joined into WTO, Chinese banks went to international (overseas assets allocation), and then the dollar securities were played an important part in Chinese banks. When the subprime crisis happened in American, it made securities fluctuate sharply then the values were dropping down. Although, in above, we introduce the Chinese banks regulation is institution but it still be a heavy loss by the financial crisis. In addition, the subprime crisis made and increased a financial gap to original investors in Chinese banks then it leaded Chinese public banks share sell-off in financial market that leaded the Chinese banks have to changed their ownerships structure. Also the indirect influence was the global financial crisis made economic recession in Europe countries then it affected Chinese export trade business and leaded Chinese banks credit quality decrease. The ef fects are also showed with the potential risk increasing in macro-economic environment and money policies. Not only the macro-economic environment changed but also Chinese banks moderated and lose their monetary policy may be increase the potential risk. The same with American banks, China also have some changes in banking systems when the financial crisis happened such as Chinese central bank sharply decreased the interest rate from 2008, sharply increased credit money, and took out lower loan conditions to stimulate Chinese economic and other changes. According to these effects and changes, we can see that the Chinese banking systems still have some problems with the Chinese towards gradually perfect and complete banking systems. The writer will introduce some important problems as follows: firstly, domestic commercial banks have some original problems with they do not have representative to make a decision and supervision, which leaded contributors shortage and then the domestic commercial banks have a large number of non-performing loans. Under the Chinese government protect, the domestic commercial banks are lacking some endogenous power, competition and risk awareness. Secondly, Chinese central bank is controlled by government financial department not only on personal arrangement but also in making policies. It is too much relay on the government then it not good for banks developing in the future. Chinese banks have taken heavy burden of debts due to the deteriorated market environment. Systematic scheme slowed down the speed of revolution and reform in banking system. To be more specific, the big four are all suffered from the non-performing-loan which account for a large portion of the credit business. The risk of loan maintains at high level which affect the efficiency and profit ability for Chinese banks. 2.6 Future development of Chinese banking systems Impacted by the financial crisis, it not only took bad effects but also took s ome challenges to Chinese banks. Firstly, Chinese banks need to get the greatest ways to control macroeconomics in short-term to reduce the scale and depth by the global economic recession. While, this is depending on macro-economics policy, we can through financial and positive monetary policy to satisfy needs and also government can change the policy with the demand to quick control macro-economic. How should we build more stable and sound banking systems, there is still another challenge to Chinese banks. With the problems of Chinese banks and above two challenges that are leading some future development to Chinese banks. We all know the financial crisis influences to Chinese banks are not short-term happened, that means, the effects are long-term and deep that maybe face the same problems in the future. Then Chinese banks should learn some methods from American banks experience, such as improve banks management consciousness, find out some active and steady innovation ways, i ncrease and strengthen banking supervision and inspection power and other future enhancement or changes. 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¹Ãƒâ€šÃ‚ ¬ÃƒÆ' §Ãƒâ€šÃ‚ «Ãƒ ¢Ã¢â€š ¬Ã‚ ¹ÃƒÆ' §Ãƒâ€¦Ã‚ ¡Ãƒ ¢Ã¢â€š ¬Ã… ¾ÃƒÆ' ¦Ãƒâ€¦Ã¢â‚¬Å" ºÃƒÆ' ¦Ãƒâ€¦Ã‚ ¾Ãƒ ¢Ã¢â€š ¬Ã… ¾Ãƒâ€šÃ‚ ¼Ãƒâ€¦Ã¢â‚¬â„¢ÃƒÆ' ¤Ãƒâ€šÃ‚ »Ãƒâ€¦Ã‚ ½ÃƒÆ' ¨Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€¦Ã¢â‚¬â„¢ÃƒÆ' ¦Ãƒ ¢Ã¢â€š ¬Ã‚ °Ãƒâ€šÃ‚ ÃƒÆ' ¨Ãƒâ€ Ã¢â‚¬â„¢Ãƒâ€šÃ‚ ½ÃƒÆ' ¦Ãƒâ€¦Ã‚ ½Ãƒâ€¦Ã¢â‚¬â„¢ÃƒÆ' §Ãƒâ€šÃ‚ ®Ãƒâ€šÃ‚ ¡ÃƒÆ' ¥Ãƒ ¢Ã¢â€š ¬Ã¢â€ž ¢Ãƒâ€¦Ã¢â‚¬â„¢ ÃÆ' ¥Ãƒâ€šÃ‚ ¼Ãƒ ¢Ã¢â€š ¬Ã‚ ¢ÃƒÆ' ¥Ãƒâ€šÃ‚ ¯Ãƒâ€šÃ‚ ¼ÃƒÆ' ©Ãƒ ¢Ã¢â€š ¬Ã‚ ¡Ãƒ ¢Ã¢â€š ¬Ã‹Å"ÃÆ' ¨Ãƒâ€¦Ã‚ ¾Ãƒâ€šÃ‚ ÃƒÆ' ¤Ãƒâ€šÃ‚ ¸Ãƒâ€¦Ã‚ ¡ÃƒÆ' ¥Ãƒâ€¦Ã‚  Ãƒâ€šÃ‚ ¡ÃƒÆ' ¦Ãƒâ€¦Ã¢â‚¬Å" ÃƒÆ' §Ãƒâ€šÃ‚ Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬ÃƒÆ' ¦Ãƒâ€šÃ‚ ­Ãƒâ€šÃ‚ £ÃƒÆ' ¥Ãƒâ€šÃ‚ ¸Ãƒâ€šÃ‚ ¸ÃƒÆ' §Ãƒâ€¦Ã‚ ¡Ãƒ ¢Ã¢â€š ¬Ã… ¾ÃƒÆ' ¦- ¹ÃƒÆ' ¥Ãƒâ€šÃ‚ Ãƒ ¢Ã¢â€š ¬Ã‹Å"ÃÆ' ¥Ãƒâ€šÃ‚ Ãƒ ¢Ã¢â€š ¬Ã‹Å"ÃÆ' ¥Ãƒâ€šÃ‚ ±Ãƒ ¢Ã¢â€š ¬Ã‚ ¢ÃƒÆ' £Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â€š ¬Ã… ¡ ÃÆ' ¤Ãƒâ€šÃ‚ ¸Ãƒâ€šÃ‚ ­ÃƒÆ' ¥Ãƒâ€šÃ‚ ¤Ãƒâ€šÃ‚ ®ÃƒÆ' ©Ãƒ ¢Ã¢â€š ¬Ã…“ ¶ÃƒÆ' ¨Ãƒâ€šÃ‚ ¡Ãƒâ€¦Ã¢â‚¬â„¢ÃƒÆ' ¤Ãƒâ€šÃ‚ ¸Ãƒâ€šÃ‚ ÃƒÆ' §Ãƒ ¢Ã¢â€š ¬Ã‚ ¹Ãƒâ€šÃ‚ ¬ÃƒÆ' §Ãƒâ€šÃ‚ «Ãƒ ¢Ã¢â€š ¬Ã‚ ¹ÃƒÆ' ¦Ãƒ ¢Ã¢â€š ¬Ã… ¾Ãƒâ€šÃ‚ ÃƒÆ' ¥Ãƒ ¢Ã¢â€š ¬Ã‹Å" ³ÃƒÆ' §Ãƒâ€šÃ‚ Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬ÃƒÆ' ¥Ãƒâ€¹Ã¢â‚¬  Ãƒâ€šÃ‚ ©ÃƒÆ' §Ãƒâ€¦Ã‚ ½Ãƒ ¢Ã¢â€š ¬Ã‚ ¡Ãƒâ€šÃ‚ ¼Ãƒâ€¦Ã¢â‚¬â„¢ÃƒÆ' ¥Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒâ€šÃ‚ ¬ÃƒÆ' ¥Ãƒâ€šÃ‚ ¼Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬ÃƒÆ' ¥Ãƒâ€šÃ‚ ¸Ãƒ ¢Ã¢â€š ¬Ã… ¡ÃƒÆ' ¥Ãƒâ€¦Ã¢â‚¬Å" ºÃƒÆ' ¦Ãƒ ¢Ã¢â€ š ¬Ã…“ ÃƒÆ' ¤Ãƒâ€šÃ‚ ½Ãƒâ€¦Ã¢â‚¬Å"ÃÆ' §Ãƒâ€šÃ‚ ­Ãƒ ¢Ã¢â€š ¬Ã‚ °ÃƒÆ' ¥Ãƒâ€šÃ‚ ¯Ãƒâ€šÃ‚ ¹ÃƒÆ' §Ãƒâ€šÃ‚ »Ãƒâ€šÃ‚ ÃƒÆ' ¦Ãƒâ€šÃ‚ µÃƒâ€¦Ã‚ ½ÃƒÆ' ¨Ãƒâ€šÃ‚ ¿Ãƒ ¢Ã¢â€š ¬Ã‚ ºÃƒÆ' ¨Ãƒâ€šÃ‚ ¡Ãƒâ€¦Ã¢â‚¬â„¢ÃƒÆ' ¨Ã‚ °Ãƒâ€ Ã¢â‚¬â„¢ÃƒÆ' ¦Ãƒâ€¦Ã‚ ½ÃƒÆ' §Ãƒâ€¦Ã‚ ¡Ãƒ ¢Ã¢â€š ¬Ã… ¾ÃƒÆ' ¦Ãƒâ€šÃ‚ Ãƒâ€šÃ‚  ÃƒÆ' ¦Ãƒâ€šÃ‚ Ãƒ ¢Ã¢â€š ¬Ã‚  ÃƒÆ' ¤Ãƒâ€šÃ‚ ½Ãƒâ€¦Ã¢â‚¬Å"ÃÆ' §Ãƒ ¢Ã¢â€š ¬Ã‚ Ãƒâ€šÃ‚ ¨ÃƒÆ' ¥Ã‚ °Ãƒ ¢Ã¢â€š ¬Ã‚  ÃƒÆ' ¨Ãƒâ€šÃ‚ ¢Ãƒâ€šÃ‚ «ÃƒÆ' ¥Ãƒâ€šÃ‚ ¼Ãƒâ€šÃ‚ ±ÃƒÆ' ¥Ãƒâ€¦Ã¢â‚¬â„¢- ¼Ãƒâ€¦Ã¢â‚¬â„¢ÃƒÆ' ¥Ãƒâ€šÃ‚ -ÃÆ' ¨Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€¦Ã¢â‚¬â„¢ÃƒÆ' ¤Ãƒâ€šÃ‚ »Ãƒâ€šÃ‚ £ÃƒÆ' ¤Ãƒâ€šÃ‚ ¹Ãƒ ¢Ã¢â€š ¬Ã‚ ¹ÃƒÆ' §Ãƒâ€¦Ã‚ ¡Ãƒ ¢Ã¢â€š ¬Ã… ¾ÃƒÆ' ¦Ãƒâ€¹Ã…“ ¯ÃƒÆ' ¥Ãƒâ€šÃ‚ ¼Ãƒâ€šÃ‚ ºÃƒÆ' ¥Ãƒâ€¹Ã¢â‚¬  Ãƒâ€šÃ‚ ¶ÃƒÆ' ¦Ãƒ ¢Ã¢â€š ¬Ã‚ °ÃƒÆ' ¨Ãƒâ€šÃ‚ ¡Ãƒâ€¦Ã¢â‚¬â„¢ÃƒÆ' §Ãƒâ€¦Ã‚ ¡Ãƒ ¢Ã¢â€š ¬Ã… ¾ÃƒÆ' ¥Ãƒ ¢Ã¢â€š ¬Ã‹Å" ½ÃƒÆ' ¤Ãƒâ€šÃ‚ »Ãƒâ€šÃ‚ ¤ÃƒÆ' £Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â€š ¬Ã… ¡ Conclusion ÃÆ' ¨Ãƒâ€šÃ‚ ¿Ãƒâ€¹Ã…“ÃÆ' ©Ãƒâ €¦Ã¢â‚¬Å"à ¢Ã¢â‚¬Å¡Ã‚ ¬ÃƒÆ' ¨Ãƒâ€šÃ‚ ¦Ãƒâ€šÃ‚ ÃƒÆ' ¥Ãƒ ¢Ã¢â€š ¬Ã‚  Ãƒ ¢Ã¢â‚¬Å¾Ã‚ ¢ÃƒÆ' §Ãƒâ€¦Ã‚ ¡Ãƒ ¢Ã¢â€š ¬Ã… ¾ÃƒÆ' ¥Ãƒ ¢Ã¢â€š ¬Ã‚  Ãƒ ¢Ã¢â€š ¬Ã‚ ¦ÃƒÆ' ¥Ãƒâ€šÃ‚ ®Ãƒâ€šÃ‚ ¹: ÃÆ' ¦Ãƒâ€¦Ã¢â‚¬Å" ªÃƒÆ' ¦Ãƒâ€šÃ‚ Ãƒâ€šÃ‚ ¥ÃƒÆ' §Ãƒâ€¦Ã‚ ¡Ãƒ ¢Ã¢â€š ¬Ã… ¾ÃƒÆ' ¥Ãƒâ€šÃ‚ Ãƒ ¢Ã¢â€š ¬Ã‹Å"ÃÆ' ¥Ãƒâ€šÃ‚ ±Ãƒ ¢Ã¢â€š ¬Ã‚ ¢ÃƒÆ' ¥Ãƒâ€šÃ‚ Ãƒâ€¹Ã…“ÃÆ' ¥Ãƒâ€¦Ã¢â‚¬â„¢-() Conclusion ÃÆ' ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¢Ã‚ °ÃƒÆ' ¦Ãƒâ€šÃ‚ Ãƒâ€šÃ‚ ®ÃƒÆ' ¥Ãƒâ€¹Ã¢â‚¬  Ãƒ ¢Ã¢â€š ¬Ã‚  ÃƒÆ' ¦Ãƒâ€¦Ã‚ ¾Ãƒâ€šÃ‚ ÃƒÆ' ¨Ãƒâ€šÃ‚ ¿Ãƒâ€¹Ã…“ÃÆ' ©Ãƒâ€¦Ã¢â‚¬Å"à ¢Ã¢â‚¬Å¡Ã‚ ¬ÃƒÆ' ¨Ãƒâ€šÃ‚ ¦Ãƒâ€šÃ‚ ÃƒÆ' ¥Ãƒâ€šÃ‚ ®Ãƒâ€¦Ã¢â‚¬â„¢ÃƒÆ' ¥-à ¢Ã¢â€š ¬Ã… ¾ Literature Review reference: Adair turner, The financial Crisis and the future of financial regulation, the economists inaugural city lecture, 21st January 2009 J.B. Taylor, 2009, The financial Crisis and the policy responses: an empirical analysis of what went wrong, National Bureau of Economic Research Working Paper Se ries, Vol. 14631 Carmen M. Reinhart Kenneth S. Rogoff, 2008. Is the 2007 US Sub-prime Financial Crisis So Different? An International Historical Comparison, American Economic Review, American Economic Association, vol. 98(2), pages 339-44, May. 2008 Adams, R. B. (2012), Governance and the Financial Crisis. International Review of Finance, 12:  7-38. Castells, Manuel, Caraca, Joao and Cardoso, Gustavo, (2012), Aftermath: The Cultures of the Economic Crisis, Oxford University Press, Carmen M. Reinhart Kenneth S. Rogoff, 2009. The Aftermath of Financial Crises, American Economic Review, American Economic Association, vol. 99(2), pages 466-72, May. Berkmen, Pelin, Gelos, Gaston, Rennhack, Robert K. and Walsh, James P., The Global Financial Crisis: Explaining Cross-Country Differences in the Output Impact (December 2009). IMF Working Papers, Vol. , pp. 1-19, 2009. Ligang Liu, Impact of the Global Financial Crisis on China: Empirical evidence and Policy Implicat ions, China World Economy, 1-23, Vol.17. No.6. 2009 J. Ghosh and C.P. Chandrasekhar, 2008, The costs of coupling: the global crisis and the Indian economy , Cambridge Journal of Economics, Volume 33, Issue 4, Page: 725-739 M.Clerides and C. Stephanou, 2009, The Financial Crisis and the banking system in Cyprus, Cyprus Economic policy review, Vol.3, No.1, pp. 27-50 V. Anichshenko, 2009, The impact of financial crisis on the banking systems in Kazakhstan, Central Asia Business Journal, Vol.2, November 2009 Cunningham, Lawrence A. and Zaring, David T., The Three or Four Approaches to Financial Regulation: A Cautionary Analysis Against Exuberance in Crisis Response. George Washington Law Review, Vol. 78, October 2009; GWU Legal Studies Research Paper No. 469; William H. Overholt (2010): China in the Global Financial Crisis: Rising Influence, Rising Challenges, The Washington Quarterly, 33:1, 21-34 E.Geretto and R. Pauluzzo (2009), The Chinese banking system: Econom ic performance and prospects for future development, Transit studies review, 16:92-113 American interest rate: https://www.global-rates.com/interest-rates/central-banks/central-bank-america/fed-interest-rate.aspx Why Chinas Banks Are Stronger than Americas: https://www.time.com/time/business/article/0,8599,1902404,00.html CCB: https://www.ccb.com/en/newinvestor/upload/20120612_1339472609/nianbaoen2011.pdf https://www.marketwatch.com/investing/stock/cichy/financials