StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...

The Financial Cooperation of Seoul-Beijing-Tokyo Triangle after 2008 Financial Crisis - Essay Example

Cite this document
Summary
The consequences of the global financial crisis in 2008 were characterized by a scope of long term outcomes and negative implications for the international financial system and structure. As noted by Russo and Katzel, in the aftermath of the crisis economic and financial…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER98.1% of users find it useful
The Financial Cooperation of Seoul-Beijing-Tokyo Triangle after 2008 Financial Crisis
Read Text Preview

Extract of sample "The Financial Cooperation of Seoul-Beijing-Tokyo Triangle after 2008 Financial Crisis"

Download file to see previous pages

Prompted by a domino effect, the crisis eventually led to damaging consequences for the labor market and initiated a subsequent disintegration of the banking system. This severe decline in economic progress was experienced on a global scale and spanned across North America to Asia. According to Plummer, the premise of regional cooperation amongst Asian economies as a result of the global financial crisis is primarily associated with the factor of competitiveness in order to enhance the opportunity to achieve integration within the global economy and combat the effect of external forces (32).

The assessment of this concept entails examining how each of the economic motivators for increasing cooperation has been impacted by the global financial crisis and how the extent of this regional cooperation can be promoted owing to the influence of external factors and the changing economic scenario. Movements and frameworks to advance the potential of regional financial cooperation amongst Asian nations namely Japan, China and Korea have been characterized by the emergence of specific challenges which must be resolved in order to attain the desired objectives of trilateral economic agreements.

However, Madhur asserts that launching any potential financial and economic cooperation agreement between these Asian economies has traditionally posed several challenges and hurdles which have even led certain bilateral agreements and FTAs including the CJK FTA in failing to materialize successfully (377). The key difficulty in advancing the scope of financial cooperation between the three nations is linked with the inherent concept of preferential trade agreements and the criticism which is raised by trade analysts regarding such type of agreements.

As noted by Madhur, a comparison of PTAs with the value and worth of potential multilateral free trade suggests that the former does not hold the several benefits

...Download file to see next pages Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“The Financial Cooperation of Seoul-Beijing-Tokyo Triangle after 2008 Essay”, n.d.)
The Financial Cooperation of Seoul-Beijing-Tokyo Triangle after 2008 Essay. Retrieved from https://studentshare.org/social-science/1660652-the-financial-cooperation-of-seoul-beijing-tokyo-triangle-after-2008-financial-crisis
(The Financial Cooperation of Seoul-Beijing-Tokyo Triangle After 2008 Essay)
The Financial Cooperation of Seoul-Beijing-Tokyo Triangle After 2008 Essay. https://studentshare.org/social-science/1660652-the-financial-cooperation-of-seoul-beijing-tokyo-triangle-after-2008-financial-crisis.
“The Financial Cooperation of Seoul-Beijing-Tokyo Triangle After 2008 Essay”, n.d. https://studentshare.org/social-science/1660652-the-financial-cooperation-of-seoul-beijing-tokyo-triangle-after-2008-financial-crisis.
  • Cited: 0 times

CHECK THESE SAMPLES OF The Financial Cooperation of Seoul-Beijing-Tokyo Triangle after 2008 Financial Crisis

The Financial System Crisis of August 2007

Analysts have argued that the roots of the financial crisis of August 2007 originate from the global economic trends over the last decade.... Beginning from the Fall of 2006, the United States economy was struck with problems in the sub-prime mortgage market, that eventually had repercussions not only on other sectors of the economy but also on other related economies, reaching crisis proportions by July 2007.... hellip; The immediate cause of the crisis was rise in interest rates in the mortgage market so that people with home loans, paying adjustable interest rates, found themselves with spiraling interest payments....
5 Pages (1250 words) Essay

Financial Crisis of the US in 2008

The paper "financial crisis of the US in 2008" highlights that the current financial crisis started due to some untimely and inefficient decisions and overlooking of the risk factors by the financial institutions in the US.... To analyze the evolvement of the current financial crisis, its effects on the economy of United States as well as its financial market, some of the problems the United States may face in the future and also discuss some of the short term and long term solutions....
8 Pages (2000 words) Coursework

How do international financial institutions manage the change needed after the 2008 financial crisis

An important official of the IMF has attributed regulatory failure to guard against excessive risk as the reason of the 2008 financial crisis.... financial crisis leads to a value erosion of the assets of the financial institutions as is the case with the current financial crisis that created a panic in the market and led to the worldwide recession.... The above mentioned financial crisis was mainly attributed to insufficient regulation therefore a change in the regulatory framework is needed to avoid this in the future....
16 Pages (4000 words) Essay

2007-2009 Financial Crisis

The 2007-2009 financial crisis affected the financial landscape of the United States drastically and shook the European economies as they followed the same practices the United States used to follow before the crisis.... As a result, the rate of unemployment increased and many… Thesis statement: The 2007-2009 financial crisis resulted in unemployment, banking collapse, and decline in international trade. As pointed out, the financial crisis of 2007-2009 The Effects Of 2007-2009 financial crisis The 2007-2009 financial crisis affected the financial landscape of the United s drastically and shook the European economies as they followed the same practices the United States used to follow before the crisis....
1 Pages (250 words) Essay

Financial Crisis of 2008

The 2008 global financial crisis changed all that.... In my study, I seek to find out what exactly caused the financial crisis.... I will therefore begin my study by running an internet search on the causes of the financial crisis.... Of the top results I obtained was an article from The Financial Law Review, the author clearly espouses all the issues around the global financial crisis and highlights the role of investment banks in creating the mess (Avgouleas, 456)....
7 Pages (1750 words) Essay

The 2007-2009 Financial Crisis

The author of this essay "The 2007-2009 financial crisis" comments on the financial crisis.... According to the text, the financial crisis, which was termed as Global financial crisis and is considered to be the worst financial crisis by economists after the 1930s Great Depression.... nbsp;… The 2007-2009 Global financial crisis threatened the collapse of some of the greatest financial institutions....
3 Pages (750 words) Essay

Financial Crisis In The Year 2008

The essay "financial crisis In The Year 2008" finds that there were several factors that led to the financial crisis in the year 2008.... hellip; The crisis which started in the subprime mortgage crisis in 2008 dragged different nations across the globe in the crisis and soon the crisis turned into the global financial crisis.... For instance after the financial crisis of 2008 the recipe for straight forward revival would be to liquidate all the assets which led to the subprime bubble due to the easy monetary policy....
2 Pages (500 words) Essay

Developed Economies Worldwide after the Great Financial Crisis

the financial markets have played an important role in these uncertainties.... the financial markets are often encountered by financial risk or uncertainty, which can be defined as added unevenness in net returns of the owner's equity that is the outcome of financial liability linked with debt or capital lease financing.... There is a lot of gap between the risk creation and its occurrence in the financial performance of the project.... hellip; A financial market is referred to as one where private and public companies, as well as individuals, can trade securities and other financial commodities at a price that is determined by changes in economic forces like, demand and supply....
8 Pages (2000 words) Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Contact Us