The US Financial Regulatory Reform, Causes of Financial Crisis and Its Enlightenment on China
In: Frontiers of Law in ChinaSearch for other papers by Qiping Tang in
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Deficiency of the US financial regulation has stimulated the enactment of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The fundamental causes of the regulatory deficiency can be categorized as follows: excessively indebted consumption culture in a long term, permanently abolishing the regulation on financial derivatives by the US Commodity Futures Trading Commission, and the regulations before the reform not fitting for the fictitious economy. The operation of financial products is like to fly a kite. The financial product is the kite, governmental adjustment is the string, market regulation is the wind, national culture and legislature and judicature are the environment. Those coordinated elements can guarantee a healthy financial market. To construct an effective financial regulatory system in China, it is needed to make culture with Chinese characteristics, advance the coordinated development of governmental and market regulation, and promote financial legislations and related implementation.
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| All Time | Past 365 days | Past 30 Days | |
|---|---|---|---|
| Abstract Views | 134 | 28 | 4 |
| Full Text Views | 32 | 0 | 0 |
| PDF Views & Downloads | 21 | 0 | 0 |
The US Financial Regulatory Reform, Causes of Financial Crisis and Its Enlightenment on China
In: Frontiers of Law in ChinaSearch for other papers by Qiping Tang in
Current site
Google Scholar
PubMed
Deficiency of the US financial regulation has stimulated the enactment of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The fundamental causes of the regulatory deficiency can be categorized as follows: excessively indebted consumption culture in a long term, permanently abolishing the regulation on financial derivatives by the US Commodity Futures Trading Commission, and the regulations before the reform not fitting for the fictitious economy. The operation of financial products is like to fly a kite. The financial product is the kite, governmental adjustment is the string, market regulation is the wind, national culture and legislature and judicature are the environment. Those coordinated elements can guarantee a healthy financial market. To construct an effective financial regulatory system in China, it is needed to make culture with Chinese characteristics, advance the coordinated development of governmental and market regulation, and promote financial legislations and related implementation.
| All Time | Past 365 days | Past 30 Days | |
|---|---|---|---|
| Abstract Views | 134 | 28 | 4 |
| Full Text Views | 32 | 0 | 0 |
| PDF Views & Downloads | 21 | 0 | 0 |
