Various financial crises in world history \x0d\ 1. 1637 \ x0d \17th century Holland, tulips are a very dangerous thing. 1637 in the early days, when tulips were still growing in the ground, the price had risen hundreds or even thousands of times. A tulip may be the sum of the monthly income of twenty skilled workers. Now everyone admits that this is the first speculative bubble in modern financial history. The incident has also aroused people's controversy-what role should the government play in an exchange system with obvious market failure? \x0d\ 2。 South sea bubble in 1720 \x0d\ 1720, the collapse of Nanhai Company has brought a huge shadow to the whole London financial industry. /kloc-in the 0/7th century, the British economy flourished. However, people's funds are idle and their savings are inflated. At that time, the circulation of stocks was very small, and owning stocks was still a privilege. For this reason, Nanhai Company found the business opportunity of profiteering, that is, trading with the government in exchange for operating privileges, because the public was optimistic about the stock price, which promoted the conversion of bonds into stocks at that time, which in turn reacted to the rise of the stock price. \x0d\ 1720, in order to stimulate stock issuance, Nanhai Company accepts investors to purchase new shares by stages. The investment enthusiasm is very high, and the stock is in short supply, which leads to the price soaring above 1000. The real performance of the company seriously deviates from people's expectations. Later, because Congress passed the anti-financial fraud and speculation law, insiders and government officials sold it on a large scale, and Nanhai Company's share price plummeted and south sea bubble was shattered. \x0d\ III。 1837 \x0d\ 1837. The economic panic in the United States caused the banking industry to shrink. Due to the lack of enough precious metals, banks are unable to pay for the issued currency and have to postpone it again and again. The economic depression caused by this panic continued until 1843. There are many reasons for the panic: the transfer of precious metals from the federal government to state banks scattered reserves and hindered centralized management; Pressure from British banks; The instability of the American economic mechanism caused by the scattered reserves and so on. \x0d\ IV, 1907 banking crisis \ x0d \ 10, the banking crisis broke out in the United States, and about half of the bank loans in new york were invested by trust and investment companies with high interest returns in high-risk stock markets and bonds as collateral, so the whole financial market was in a state of extreme speculation. First of all, news and public opinion have begun to lead to a large number of articles promoting new financial concepts. At that time, there was an article by Paul entitled "Shortcomings and Needs of Our Banking System". Since then, Paul has become a major advocate of the American central banking system. Shortly thereafter, Jacob? Schiff declared at the new york Chamber of Commerce: "Unless we have a central bank that can control credit resources, we will experience an unprecedented and far-reaching financial crisis." \x0d\ V, 1929 crash \x0d\ the most severe moment in the history of Wall Street. During the period of 1922- 1929, the unprecedented prosperity and huge returns in the United States made many Americans involved in the crazy speculation on Wall Street, and the stock market heated up sharply, which eventually led to the stock market crash and triggered the financial crisis in the United States and even the world. \x0d\ VI, 1987 Black Monday \x0d\ 1987, the deterioration of economic expectations and the continuous tension in the Middle East caused the great collapse of Wall Street. This is "Black Monday". The standard & poor's index fell by 20%, and countless people fell into pain. \x0d\ vii。 Mexico financial crisis1994 \ x0d \1994-1995 Mexico financial crisis, peso exchange rate plummeted, stock price plummeted. Not only did Latin American stock markets plummet, but also the European stock market index, the Far East index and the world stock market index fell to varying degrees. \x0d\ VIII, 1997 Asian financial crisis \ x0d \1997 In July, Thailand announced that it would abandon the fixed exchange rate system and implement a floating exchange rate system, which triggered a financial storm sweeping Southeast Asia. Hong Kong's Hang Seng Index plummeted, and financial turmoil broke out in South Korea. A series of banks and securities companies in Japan went bankrupt one after another. The Southeast Asian financial crisis evolved into the Asian financial crisis. \x0d\ IX。 In September, 2008, American subprime mortgage storm \x0d\ Lehman Brothers went bankrupt, Merrill Lynch was sold, and Morgan Stanley sought to merge. The wave of subprime mortgage crisis in the United States is getting higher and higher, the American financial system is teetering, and the world economy is facing great pressure.