Black Swan, White Swan, Gray Swan

From Public domain vectors

 

What is Black Swan?

Black Swan refers to a phenomenon in which something that is unlikely to happen actually happens. In the economic sphere, it is used to mean that economies around the world can face a crisis due to unexpected events.

 

The Real Case of Black Swan

Brexit in the United Kingdom

The decision to leave the EU caused the UK to leave the EU unexpectedly, and political and economic problems caused by leaving the EU shocked all countries, and the UK also came as a shock.

 

 

Lehman Prime Crisis

Before the Lehman Prime crisis, people in the United States thought that the price of real estate homes would not continue to rise and fall, and that there would be no problem if the person who gave the mortgage and took out the loan did not have the ability to pay it back. However, as interest rates actually went up, housing prices started to plummet, and many banks went to the brink of bankruptcy, and in Lehman's case, they went bankrupt. As a result, Korea as well as other countries are facing a financial crisis.

 

What is a white swan?

White Swan refers to a case in which a problem occurs due to a lack of proper response, although it is sufficiently predictable, predictable, and preventable through the past and history. White swans are cases where, despite being predictable or predictable when looking at the past, there are multiple problems due to lack of countermeasures or appropriate responses.

 

It is said that the case of white swan is a representative example of the trade dispute between the United States and China. As trade shrinks worldwide due to the trade dispute between the U.S. and China, rising import prices and the eurozone crisis caused by the deepening conflict in Europe are cited. The problem with the white swan is that it doesn't just end with the problem of the white swan, it can be a trigger for the black swan.

 

What is Grey Swan?

Grey Swan refers to a problem that is sufficiently predictable and predictable, but there is no firm solution. If it is predictable, but there is no perfect solution, it is a risk that can be expected, so the impact is relatively small. However, itmay be considered rather dangerous that there is no way to deal with it.