Global trade credit risk analysis

Mitsubishi Diesel Engine: The Global trade credit risk analysistruth was revealed. In April 2016, Mitsubishi Heavy Industries admitted that its diesel vehicle engine adopted the practice of camouflage test data. This news shocked the entire automobile industry and attracted wide attention and discussion. In the following months, the fact of Mitsubishi's fraudulent plan was exposed. This article will make an in-depth analysis of this disturbing event to explore the cause of what happened and the possible impact. Mitsubishi's fraudulent plan can be traced back to 2005, when they began to develop low-emission diesel engines to meet the demand of the rapidly growing European diesel vehicle market. This research and developmentIt was given high expectations, but Mitsubishi failed to meet European standards in its laboratory tests, so it began to record fraudulent experimental data. Specifically, Mitsubishi changed the settings and test conditions of the emission control software through fraudulent means to achieve the results of passing the emission requirements of the European Union. By recording and submitting false data, Mitsubishi misled regulators and consumers, giving them the impression that their diesel engines are efficient and low-emission. Unfortunately, this kind of fraud is very dangerous. Due to the error of the emission control software, the nitrogen oxide emissions of Mitsubishi diesel engines in actual driving are much higher than those during laboratory tests. In fact, Mitsubishi admits that this kind of fraud may lead to emissions of up to 2.4 million cars. MitsubishiThe company's fraudulent plan not only deceives and breaches consumers and regulators, but also has a negative impact on the entire automotive industry. First of all, the scandal undermined consumers' trust in Mitsubishi diesel engines and had a serious negative impact on the Mitsubishi brand. Secondly, the design standards and emission standards of the automobile industry will be reconsidered and reviewed, which will increase the audit burden of other automobile manufacturers. In addition, this fraud scheme also undermines the credibility of regulators, who have failed to detect such deception and have failed to introduce stricter standards to regulate these behaviors in the industry. The accident is not only the problem of Mitsubishi, but also the growing culture in the automobile industry, so that its products, which have been fully inspected and quality controlled, have been pushed down the simplest standards to meet regulations. It is worth noting that this is not the only case of the five continents falling into an emission scandal.Volkswagen in Germany was exposed in 2015 for its diesel engine involved in emission data fraud. Subsequently, the problem involved other large automakers, causing the entire automobile industry to fall into a magnificent emission problem. Trains rely on technology that has been fully inspected and quality control to operate the global supply chain, and it takes a short time to maintain the means of transport to be updated, including locomotives, high-speed rail production and manufacturing, etc. This is the biggest difference between cars and trains. The maintenance of trucks, buses and other internal combustion engine-powered vehicles requires more elaborate systems and technologies. In general, Mitsubishi's deception not only harms consumers, regulators and the entire automotive industry, but also has a serious negative impact on the global atmospheric environment. This matter emphasizes the improvement of regulatory measures.It is important to strengthen quality control, and also remind other car manufacturers not to commit fraud for any reason. Only in this way can we build an honest and transparent industry ecosystem to provide safe and environmentally friendly cars for global consumers.

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