Teachers and students, everyone. The topic of my presentation today is that the economic crisis in China.
The current economic crisis is the sub-loan crisis in the United States caused by the detriment of its serious impact on the global economy. Of course, volatility is also to China, but China is not only a challenge, but also an opportunity.
The current economic crisis is in many respects, the development of our country is beneficial.
First on the labor and employment, the current graduates, due to slowdown in economic growth, new job opportunities may be relatively reduced. Therefore, a certain period of employment may face greater pressure. However, the long-term financial crisis, the United States and other developed countries the financial sector and unemployed workers are likely to flow to the financial crisis-affected countries and regions with less. Therefore, our country is faced with the introduction of overseas a good opportunity for financial talent. This is our country's financial, securities, insurance industry is very favorable.
The second in the global financial crisis, the Chinese financial institutions to see if accurate, in this case be sure to reverse the operation, the acquisition of foreign financial enterprises sell, Wall Street took the opportunity to enter the United States. The financial crisis in U.S. financial institutions to promote the convergence of China's financial institutions the right to speak will be enhanced.
Third of the financial crisis hit the old international financial system, "U.S. dominance" of the era will be gone, the international status of the renminbi will see a hefty increase, as an international clearing the main one of several major currencies. This will enhance China's economy, the consumption of ordinary people is a big change, so as to promote China's economic development.
Although brought me many opportunities, but we are still faced with many challenges.
Such as the global financial crisis is a direct impact on the entities rely heavily on exports of listed companies and substantial investment in overseas financial institutions. This part of the loss is still not fully expected, the final loss figures would be astronomical. In addition, export-oriented enterprises have closed down and the domino effect will also be in the All-jun after the fall of the Group, more export-oriented enterprises will be the inevitable die. There are iron and steel industry, petroleum and other energy industries of coal, and gold has also been a greater impact on luxury goods.
Overall, the economic crisis, for China is also a challenge an opportunity. We have to do is seize the opportunity to actively respond to challenges