A comparison of the United States and China financial systems with the effect of Fintech on banking and financial markets
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| Dokumentumtípus: | Diplomadolgozat |
| Kulcsszavak: | banking China finance financial markets financial system fintech the United States |
| Online Access: | http://dolgozattar.uni-bge.hu/38510 |
| Kivonat: | There has always been, implicitly or explicitly, a form of market where sellers and buyers exchange financial products or commodities, also known as the financial market. The financial system is an integral part of every civilization, regardless of geographical or political structure. It is generally a network of financial institutions and participants, such as banks, insurance companies, investors, etc. that facilitates the exchange of funds and assets in marketplaces. As the world’s financial system and technology have been flourishing indisputably, the terminology “financial technology” (or “Fintech”) was born. Fintech refers to any innovative idea that improves financial services by using technology solutions. The past 15 years have witnessed the tremendously prompt elevation of Fintech as it becomes one of the most important factors affecting the worldwide economy. In this paper, the question “What are the key differences and similarities of financial systems between the two biggest economies in the world, the United States and China, with the disruptor of Fintech industry?” will be answered. China’s centrally planned economy, as opposed to the US market-based structure, will be scrutinized within the view of banking systems and financial markets, including stock, bond, and currency exchange markets of the two countries. Fast-growing Fintech markets are expected to alter the traditional financial systems; however, the transformation and integration are facing several problems that we will address further in this research. We will explore the implications of Fintech to the two aforementioned financial systems through the analysis of the most significant technological advances in Fintech, namely Artificial Intelligence and Blockchain. |
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