The Crisis Awareness In Millennium: Lessons From Japan's Bubble Economy

In the 21st century, China's economy has maintained rapid growth, and smoothly through the crisis which began from the America's supreme mortgage crisis in 2007. In 2010, the China's GDP has surpassed the Japan's and has become the second in the world. However, when the economy grows rapidly, the China's economy has arisen many similar problems that appeared in Japan during the bubble time in the 1980's.Therefore, studying the causes of Japan's bubble time and the process of development until the rupture, analyzing the policy failures of the Japanese government when facing the bubble, comparing the failures with the problems that exists in China, to take the preventive measures is of great theoretical and practical significance.The paper applies the Economic Crisis Theory of Marx and Western economists, combines with the bubble economy that appeared in Japan in 1980's,analyzes its background, cause and influence deep and systematically,perspects the reality of China's economic development at present, proposes the policy recommendations to promote the sustainable development of China's economy.