The Financial Engineering and Management of Economic Crisis

History records many economic crises, but mankind has never been so close and so frequent to them as today. So soon after European Monetary System Crisis in 1992, Mexican Financial Crises crashed in 1994.In 1997, many countries fell into the Asian crisis. The United States at the outbreak of the sub-prime crisis in 2007. The crisis quickly spread to other regions and became a global credit crunch. Have a tremendous impact on the world's major financial institutions and global financial markets. The economic growth of the United States is slowdown. Have a certain negative impact on the world economy. With the globalization of the economic and financial, through financial and trade channels the impact on the Asian economy that caused by sub-prime crisis can not be underestimated. This paper provides an overview of the contemporary economic crises to examine how economic crisis is bred, how is it transmitted internationally, and how can it be prevented. Thus the paper develops a frame of "onset-transmission-prevention" to explore the contemporary economic crisis by incorporating analysis into economic globalization and differentiating it from the traditional economic crises.