The Chinese "Plaza Accord", How To Avoid To Be The Next Japan

Since 21 July 2005, People's Bank of China announced to reform the RMB exchange rate system,the rate of exchange between RMB and the U.S. dollar had started increasing slowly with the maximum of one dollar to 6.5632 RMB up to 21 March 2011. Whether China can withstand the power of RMB appreciation pressure? When currency raise more quickly, Japan produced bubble economy and depression economy, will china be the next Japan? More and more attention are paid to RMB appreciation caused the possibility of a bubble economy.This article mainly discusses following two perspectives: firstly, retrospect "plaza accord", and discusses Yen appreciation formed to bubble economy, absorbs Japan failure process of effect of lesson; secondly, according to the 2006-2008 years Chinese "little bubble economy" as an example, summarizes caused to exchange rate policy of little bubble economy experience.Article is divided into five sections, four parts: the Part 1, through the review "plaza agreement", analyzes the yen before signing forced revaluation and the Japanese government policies to the influence of bubble economy, summarizes the formation process of teaching; the Part 2, 2006-2008 years in Chinese "little bubble economy" phenomenon as an example, analyzes the appreciation of the transmission mechanism bubble economy, summarizes our country should take this problem the reasonable appropriate policy regulation; the Part 3, focuses on the "plaza accord" with China before signing the background macroeconomic environment reality, summarized the similarities and difference in four aspects of consistency and four discrepancy, help know our country faces the special pressure; the RMB appreciation the Part 4, to prevent domestic currency rise fast process, economic bubble evolved into a bubble economy, repeating mistakes, the author summarizes the Japanese four aspects should take active measures to prevent it. The research on this issue, the author thinks that has great realistic meaning and in-depth study of space. With the increasing pressure of RMB appreciation, a stronger currency issue has to our country economy development produce larger impact, how to gain more from historical experience, make our country not repeating mistakes, make our country economy in Japan, we become the development actuality of the important subject then must face.