Comparative Analysis Of Chinese And Greece Financial...

COMPARATIVE ANALYSIS BETWEEN CHINESE GREECE FINANCIAL CRISES The failure of macroeconomic factors largely resulted in the financial calamities for both China and European nations such as Greece. These included foreign exchange and interest rate fluctuations and output as mentioned in Haile and Pozo, (cited in Shen et al, 2015, p. 193). Furthermore, the interdependence between China and European nations as trading partners suffered throughout the crisis given the disruption to the aforementioned macroeconomic variables, (Shen et al, 2015, p. 193). In addition, capital outflows result in the depletion of liquidity in financial institutions as mentioned by Honohan, (cited in Shen et al, 2015, p. 194), and non financial institutions, for example auditing and consulting firms, as mentioned by Gimet, (cited in Shen et al, 2015, p. 194). However, macroeconomic variables are just one factor attributed to the ongoing financial calamities in both China and Greece. Investment perspectives are altered resulting from financial calamities across multiple nations wholly independent of macroeconomic variables, a phenomena referred to by Masson as pure contagion, (cited in Shen et al, 2015, p. 194). Alterations in financial performance have been attributed to unconventional psychological behaviour, for example aversion to risk and hypersensitivity towards financial gains or losses, (Shen et al, 2015, p. 194). The importance of macroeconomic variables to a nation s overall healthShow MoreRelatedGlobalization Is The Process Of International Integration6873 Words   |  28 Pagesthis series of distinctions allows for an understanding of how, today, the most embodied forms of globalization such as the movement of refugees and migrants are increasingly restricted, while the most disembodied forms such as the circulation of financi al instruments and codes are the most deregulated. Globophobia has been used incorrectly to refer to the fear of globalization. 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