- Ukwanda kwemali mboleko engekho emabhange kudale ukungabonakali okuyingozi ngenxa yokuntuleka kokucaca ekulinganisweni kwentengo kanye nokuxega kwezinkontileka zesivumelwano.
- Ukuphazamiseka kobuchwepheshe okubangelwa yi-AI kanye nokuqina kwezilinganiso zenzalo kubangela ukwanda kokuhluleka ukukhokha kanye nokuwa kwebhizinisi.
- Kukhona ukungezwani okukhulu phakathi kokuhlolwa kwempahla yangasese kanye nemakethe yomphakathi, okudala ingcindezi yokuntuleka kwemali kubaphathi bempahla abakhulu.
Uma sibheka isimo sezimali samanje, sibona ukuthi ukubolekwa kwemali yangasese kusuke emakethe eyingqayizivele yabambalwa abakhethiwe kwaba yinto enkulu kakhulu yamadola ayizigidigidi. Ngemuva kokushaqeka okukhulu kwango-2008, okwashiya izinsizakalo zamabhange zendabuko zididekile, kwavela isikhala esavalwa ngokushesha yizikhwama zezimali kanye nezinkampani zamasheya ezizimele. Lokhu kuguquka kohlelo lokubolekwa kwemali kuvumele izigidigidi ukuba zigelezele emabhizinisini ngaphandle kokudlula esihlungini esiqinile samabhange avamile, okudala ukukhula okumangalisayo manje okuqala ukubonisa izimpawu zokwehla kwejubane.
Iphuzu liwukuthi lokhu kukhula akuzange kufike ngaphandle kwentengo. Sekuyiminyaka, abatshalizimali behehwa yinzuzo ekhangayo kakhulu, kodwa manje kuvela ukuthi ingozi yayingabhekwa njengebalulekile. Asikhulumi ngenkinga eyenzeka kanye kuphela, kodwa kunalokho ukuqongelela kokungalingani kwesakhiwo , okuhlanganiswe nesimo sezombusazwe esishubile kanye namazinga enzalo akhuphukayo , okuhlola ukuqina kwemodeli engakaze ibhekane nokuhlolwa kokucindezeleka okukhulu kusukela enkingeni ye-subprime mortgage.
Izingozi zokuboleka imali ngqo kanye nokuntuleka kokubonakala
Enye yezinkinga ezishisa kakhulu yilokho okubizwa ngokuthi ukubolekisa okuqondile. Yilapho izimali zibolekisa imali ngqo kumabhizinisi amancane naphakathi (ama-SME). Inkinga ukuthi izimali mboleko zesivumelwano sezivame kakhulu ; lezi empeleni ziyizivumelwano ezinemikhawulo embalwa kakhulu. Lokhu kusho ukuthi umbolekisi akanalo ulwazi ngesimo sezimali sangempela senkampani kuze kube sekwephuzile, okudala ukungacaci okuxwayisa abalawuli.
Ngaphezu kwalokho, sithola ukuthi eziningi zalezi zindlela zisekelwe emananini abikiwe ngaphakathi kunasenani langempela lemakethe. Lokhu kudala umbono wokuzinza; konke kubonakala kuhamba kahle kuze kube yilapho kufika inkinga futhi i-premium yokungabi semthethweni iyancipha , ishiya abatshalizimali bebambeke ezimpahleni abangenakuzithengisa ngokushesha ngaphandle kokulahlekelwa yingcebo.
Isibonelo esicacile salokhu kuphazamiseka yi-BDC, noma izinkampani zokuthuthukisa amabhizinisi. Lezi zinhlangano, ezithengiswa esidlangalaleni kodwa zitshala imali kwisikweletu sangasese, zihweba ngezaphulelo ezinkulu enanini lazo lempahla , okubonisa ukuthi imakethe ayisakholelwa emananini angcono abaphathi abawanikezayo.
Izimpawu zesexwayiso: Ukuwa kwezinkampani kanye nokukhwabanisa
Akudingeki ubheke kude ukuze ubone ukuthi izinto zibukeka kabi. Amacala akamuva afana nalawa e-Tricolor Holdings, agxile ezikweletini zezimoto ezingaphansi kwe-subprime, adalule ubuthakathaka bohlelo. Le nkampani imemezele ukuqothuka ngemuva kokusolwa ngemisebenzi yokukhwabanisa kanye nezikweletu ezifihliwe , yanyakazisa izimali zokubolekisa zangasese ezazifake izigidi ngokusekelwe eziqinisekisweni mhlawumbe ezaziyizithembiso ezingenalutho.
Ngakolunye uhlangothi, i-First Brands Group isitshengise olunye uhlangothi lwemali: ukukhula okusheshayo okubangelwa yizikweletu. Lapho bezama ukuxhasa kabusha amaRandi ayizigidigidi eziyisithupha, isivumelwano saphela ngenxa yokuntuleka kokucaca mayelana nenzuzo yabo. Into exakile kakhulu ukuthi ngenkathi inkampani ishona, ezinye izimali ezifana ne-Apollo Global Management zazinciphisa izikweletu zayo , zenza imali njengoba inani lebhondi lehla laya emazingeni aphansi kakhulu.
Umthelela woBuhlakaniphi Bokwenziwa kanye nobuchwepheshe
Sivame ukukhohlwa ukuthi ubuchwepheshe bungalimaza inzuzo yenkampani. Ukwanda kwe-AI kudale ingozi yobuchwepheshe engalindelekile ethinta kakhulu izinkampani zesofthiwe. Izimali eziningi zangasese zathenga lezi zinkampani ngamanani aphezulu eminyakeni embalwa edlule, kodwa manje i-AI iguqula lo mkhakha futhi yenza amamodeli ebhizinisi aphelelwe yisikhathi ayebonakala evikelekile ngaphambili.
Kulinganiselwa ukuthi ngaphezu kwengxenye yemisebenzi exhaswe ngesikweletu sangasese eminyakeni eyishumi edlule inalesi simo sengozi ye-AI . Lokhu kusho ukuthi sibhekene negagasi elingase libe khona lokubhalwa phansi kwempahla, njengoba ukusetshenziswa kwe- AI emiphumeleni yezezimali kungaveza ukuthi izinkampani ngeke zikwazi ukukhiqiza ukuhamba kwemali okudingekayo ukukhokha imbuyiselo ephezulu ethenjiswe abatshalizimali.
Ingozi ehlelekile noma ukulungiswa okulula kwemakethe?
Yilapho ochwepheshe bexabana khona. Ngakolunye uhlangothi, abantu abanjengoMbusi weBhange laseNgilandi baxwayisa ngokufana okuphazamisayo nenkinga ye-subprime mortgage ka-2008, ikakhulukazi mayelana nendlela lezi zimpahla ezipakishwa futhi zithengiswa ngayo. Ngakolunye uhlangothi, iziqhwaga ezifana neBlackRock neBlackstone zithi uhlelo luqine kakhulu ngoba alusetshenziswa kakhulu futhi lusebenza isikhathi eside kakhulu.
Isiqephu se-HPS Corporate Lending Fund eBlackRock siyisibonelo esiphelele salokhu kungezwani. Kwakungeyona ukuwohloka kwenkampani, kodwa kwakuyinkinga yokuntuleka kwemali. Ngokunciphisa ukuhoxiswa kwemali, umphathi wezimpahla wagwema ukuthengiswa okukhulu okwakuzobhubhisa inani lesikhwama. Nakuba kungase kubonakale sengathi "kuwukuqhutshwa kwebhange" kwabanye, ngokobuchwepheshe kuyindlela yokuvikela ukuqina kwezimpahla eziphethwe, njengoba izimali mboleko zangasese zingathengiswa ngokuchofoza nje njengesitoko se-Apple.
Lapho okufanele uye khona ngokulandelayo: Amasu okutshala imali aphephile
Njengoba ukubolekwa kwemali ngqo kubhekwe ngokucophelela, umkhuba uwukufuna isiphephelo ezimpahleni ezinesibambiso esibonakalayo. Njengamanje, izimali ezisekelwe kumpahla (i-ABF) kanye nesikweletu sezindlu sezentengiselwano eziphezulu kubonakala kuyizinketho ezinengqondo kakhulu. Lezi zimakethe zinikeza ukwesekwa okubonakalayo kwesibambiso futhi zinobudlelwano obuphansi kakhulu nenzuzo yezinkampani, okuyizona ezithinteka kakhulu yizindleko zamandla ezikhuphukayo kanye nentela.
Isihluthulelo namuhla ukuyeka ukugxila ekubuyiselweni kwemali bese uqala ukwazisa amandla ebhalansi kanye nokuzinza kwemali engenayo. Imakethe isiqala ukuvuza ukuhlaziywa okuyisisekelo kanye nokwehluka , ijezisa abaphathi abamane babela imali ngaphandle kokuhlaziya ukuthi ibhizinisi eliyisisekelo lalisebenza yini esikhathini eside.