Ｃｈａｌｌｅｎｇｅ ａｎｄ Ｏｐｐｏｒｔｕｎｉｔｙ Ｇｏ Ｈａｎｄ ｉｎ Ｈａｎｄ——Ｗｈａｔ Ｇｌｏｂａｌ Ｅｃｏｎｏｍｙ Ａｇｉｔａｔｉｏｎ Ｂｒｉｎｇｓ ｔｏ ｔｈｅ Ｃｈｉｎａ’ｓ Ｅｃｏｎｏ

Ｇｕｏ　Ｙａｎ

While most people are still con-fused by the term “subprime crisis”,its impact already penetrates our livesbefore we know it. On January 22rid,2008, many Asian countries, includingthe Chinese A-share market hit a histor-ic high of single-day decline. ShanghaiComposite Index dramatically droppedby 7.22 percent while SeouI Compos-ite Index plumped to the lowest pointsince May, 2007 with a decrease of 4.42percent. The Australian stock marketdecreased by 7.1 percent, which set therecord of the highest single-day declinein 18 years. The Indonesia stock marketsuffered an over 10 percent drop, themost miseralble fall occurred in Asia.European countries and the US didntenjoy the exemption since its stock in-dex remained low.