INFLUENCE OF FINANCIAL INTERMEDIATION INSTITUTES ON THE WELFARE OF THE POPULATION IN THE WESTERN EUROPEAN COUNTRIES
Karen Turyan, National Polytechnic University of Armenia, Armenia

(Presented at the International Conference on Research in Education and Science (ICRES) which took place on April 27-30, 2024, in Antalya, TURKEY (https://www.2024.icres.net/) and at the International Conference on Education in Mathematics, Science and Technology (ICEMST) (https://www.2024.icemst.com/) organized by the International Society for Technology, Education and Science (ISTES) http://www.istes.org).

Throughout the history of the origination and development of the economy, financial intermediation has served to reduce transaction costs, which has had a stimulating effect on the economic system. On the other hand, financial intermediation at certain stages, replacing the real sector of the economy, could cause economic crises, unjustifiably inflating the money supply. The period after World War II was a period of prosperity and development of the economies of Western Europe. The struggle and unity of opposites, which manifests itself in the synergy of capitalism and social justice, leads to the formation of a new society. All the difficulties of this period undoubtedly affected the well-being of the population. In such difficult conditions, financial intermediation could play an important role in developing the economic potential of Western European countries. Was this really the case? The article makes an attempt to find an answer to this particular question. The purpose of this study: – to determine the impact of the financial intermediation institutions on the well-being of the population in Western European countries. We use the methodology of chrono-discrete monogeographic comparative analysis proposed by Demichev (2019) for legal institutions.

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Inside the engine-room of China’s economic growth—the China Development Bank

Anyone wanting a primer on the secret of China’s economic success need look no further than China Development Bank (CDB)—which has displaced the World Bank as the world’s biggest development bank, lending billions to countries around the globe to further Chinese policy goals. In China’s Superbank, Bloomberg authors Michael Forsythe and Henry Sanderson outline how the bank is at the center of China’s domestic economic growth and how it is helping to expand China’s influence in strategically important overseas markets.

100 percent owned by the Chinese government, the CDB holds the key to understanding the inner workings of China’s state-led economic development model, and its most glaring flaws. The bank is at the center of the country’s efforts to build a world-class network of highways, railroads, and power grids, pioneering a lending scheme to local governments that threatens to spawn trillions of yuan in bad loans. It is doling out credit lines by the billions to Chinese solar and wind power makers, threatening to bury global competitors with a flood of cheap products. Another $45 billion in credit has been given to the country’s two biggest telecom equipment makers who are using the money to win contracts around the globe, helping fulfill the goal of China’s leaders for its leading companies to “go global.”

Bringing the story of China Development Bank to life by crisscrossing China to investigate the quality of its loans, China’s Superbank travels the globe, from Africa, where its China-Africa fund is displacing Western lenders in a battle for influence, to the oil fields of Venezuela.

Offers a fascinating insight into the China Development Bank (CDB), the driver of China’s rapid economic developmentTravels the globe to show how the CDB is helping Chinese businesses “go global”Written by two respected reporters at Bloomberg News

As China’s influence continues to grow around the world, many people are asking how far it will extend. China’s Superbank addresses these vital questions, looking at the institution at the heart of this growth.

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