A Study of the Countermeasures against the International Financial Crisis:Long, Medium and Short-term

The present international financial crisis is mainly caused by the U.S.subprime mortgage crisis.The most obvious feature is that in the context of globalization there are too many financial derivatives resulted from product innovations.Neo-liberalism and deep-rooted political reasons,the irrational international monetary system and the western financial system have undergone profound changes,which forms the background where the international financial crisis was triggered.It brings enormous impact on the financial sector,the entity economy and cultural structure of every country around the world.China is inevitably no exception.Therefore,in the long term,China must change the structure of economic growth;in the medium term,it must improve the pricing mechanism for the economic elements;in the short term,the various policies introduced by the government must be actively made use of.In addition,China should continue to push forward the opening up of financial markets and insist on financial innovations.