Reflections on the Influence of the Global Financial Crisis on China's Education

Abstract

The world financial crisis triggered by the subprime mortgage crisis in the United States has caused the global financial market to fall into chaos, with enterprises going bankrupt, the number of unemployed people rising sharply, and the global economic recession. The development of China's real economy has thus come to a standstill. First, the increase of unemployed people leads to the decrease of purchase demand, and many goods are unsalable. Second, the industrial structure is unreasonable and cannot adapt to the special economic situation. The outbreak of the financial crisis not only has a profound impact on the domestic economy, but also poses a big obstacle to the development of domestic education. This paper will explain the impact of the global financial crisis on domestic education from three dimensions, which are education scale, university funding and scientific research and teaching, and try to explore the development strategy of education under the background of the financial crisis.