Abstract
Nowadays, globalization increases the integration between countries, leading to the emergence of a global marketplace or a single world market. And, no country or region can develop in self-seclusion. The financial crisis is unprecedented because it comes at a time of radically increased interdependence. What is more, financial turmoil is contagious, moving rapidly from one country to another and spreading very quickly from one economic sector to many others. Since the reform and opening up, China has made remarkable economic achievements. Especially in the economic globalization trend, the financial sector has developed rapidly and its influence on economy is also growing fast. However, along with the rapid development of economy and the outbreak of financial crisis, economic factors play an important role in modern society. Due to the influence of the current global financial and economic crisis, efforts to reach health-related MDGs are confronted with daunting challenges. Public health departments of all countries are faced with increased demand for their services(Liu Zhenmin,2009), the risk of lower services quality, contraction of financial resources as well as a higher risk of a “brain drain” of health professionals. Hence, this paper aims to analyze the impact of the global recession on the health of people in the Chinese mainland and sum up a series of measures to ensure the steady growth of national economy and safeguard the social harmony and stability.
Highlights
Since the US subprime mortgage crisis caused falling house prices in 2007, the US economy has suffered a recession risk
United States turned into a source of the most serious global financial crisis since the 1930s
The mortgage crisis triggered a worldwide financial crisis that spread to the global economy (The research report, 2009)
Summary
Since the US subprime mortgage crisis caused falling house prices in 2007, the US economy has suffered a recession risk. The ability to withstand the financial crisis is limited, and their social security system is relatively imperfect. Compared with the Asian financial crisis in 1998, the impact of this financial crisis over China has the following characteristics (World Bank, 2009): First, the financial crisis originated in the United States, and the range affected by this financial crisis was broader than Asian financial crisis. This financial crisis had little effect on the China’s economy. The system has significantly diminished the likelihood that financial crisis turns into a social crisis
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