The Chinese "Plaza Accord", How to Avoid to Be the Next Japan
|School||Southwest University for Nationalities|
|Keywords||Plaza Accord RMB appreciation Bubble economy Monetary policy|
July 21, 2005 , the reform of China 's exchange rate regime began the road to the appreciation of the renminbi , RMB exchange rate as of March 21, 2011 , from $ 8.2 people against the highest rise to 6.5632 yuan against one U.S. dollars . Whether China can resist the strong pressure of RMB appreciation ? If the rapid appreciation of the yuan , China 's economy and whether it will step to the same fate as the Japanese economic bubble and bust economy ? There is a growing concern RMB appreciation led to the possibility of the bubble economy . In this paper, to consider this issue from two perspectives : First, a review of the whole story of the \small bubble economy \Article is divided into five chapters and four parts : the first part , the impact of process by reviewing the \learned; small bubble economy \background before the signing of the Plaza Accord \during the ascent , the bubble economy evolved into a bubble economy , repeating the mistakes of Japan , the author summarizes the four aspects should be taken proactive measures to take preventive measures . Research on this issue , I believe that there is great practical significance and in-depth study of the space . With the increasing pressure of RMB appreciation , the appreciation of the local currency has a greater impact on China's economic development , from history to gain more experience , so that our country will not repeat the mistakes of Japan , China's economic development and avoid detours . become an important issue that we have to face the moment .