The Causes Of Japan's Bubble Economy And Its Implications For China

Japan's economy after World War II for almost half a century of rapid growth, compared with Western developed countries, the Japanese economy enviable, but by the late 80s of last century Japan has experienced serious economic, and ultimately lead to collapse of the bubble. Should be said that the collapse of the bubble economy in Japan has brought enormous to very far-reaching impact, not only to economic stagnation, the boom never came back, more serious is that since the Japanese actually had about 10 years stagnation. Therefore, the "bubble economy" and the "lost decade" has become quite a long time since the topic of the economics profession.History may not repeat the facts, but history will repeat rule, this is the reason for people to study history. No doubt this view is the same for economics. Our situation today in China and then Japan is somewhat similar. Have gone through years of rapid economic growth, are the main export-oriented economic development model, are facing the pressure of currency appreciation, need to reform the financial system and so many similarities. So for us the Chinese economy, in any case should be carefully studied the history of Japan's bubble economy in order to find the economic bubble, the expansion of the reasons to study how to control the bubble economy, and how to deal with the collapse of the bubble economy. I believe that the research for this history will make our current economic situation our country is more rational to maintain a clear understanding.In particular, China is facing a very complex economic environment, we judge the economic outlook is not very clear, and our country to prevent and respond to excessive speculation, to address the financial risks and how to control the stock market and real estate markets are still a lot of experience, so I think that the reason the Japanese bubble of hazards and response measures on the stable development of China's economy has important theoretical and practical significance.This paper studies the background of economic crisis in Japan, causes, hazards, and for our country Inspiration. Paper is divided into six parts: the first part of the theory of the bubble economy and its elaboration and explanation. Including the concept and content of the bubble economy, harm the bubble economy, as well as the bubble economy bubble economy and confusing the two concepts both the differences and similarities between. The second part is on display in the Japanese economy's performance throughout the 1980s, came to this stage of the overall operation of the state of the Japanese economy, and that during this period adopted by the Government of Japan's economic development policies. This study provides for the following foundation and basis. The third part focuses on the causes of Japan's bubble economy is analyzed, the analysis focused on the Japanese exchange rate policy, monetary policy and monetary policy, from this carefully studied the formation of the Japanese bubble economy and causes favorable in centives . The fourth section briefly describes the collapse of bubble economy in Japan, showing the collapse of the bubble economy is a very serious thing. Part V focuses on the collapse of the bubble economy in Japan for the Japanese economy and combat, it does not single but is stocks and real estate market is reflected in all aspects, and thus appeared in Japan for ten years of economic stagnation. Part VI of the Japanese bubble economy, mainly for the enlightenment of our country, including our financial and monetary policy, industrial policy and development strategies.Innovation of the paper include: paper proposes "no bubble economy of economic stagnation," a new concept. There is no doubt that Japan's economic stagnation over ten years is very scary, but not only the bubble economy would lead to this outcome, the contradictions inherent in the economy generate economic stagnation is the root, as in Japan the production process of the bubble economy, the economy as there is in fact a serious overcapacity and heavy dependence on exports of industrial policy and other aspects of defects, should be said that these things happen not because there is no bubble does not exist, and similarly, their long-term presence will inevitably lead to, and increasing Japan's "lost decade" of the emergence of this situation, which requires the development of our economic policy more rational and cautious.