For example, Japan's bubble economy was formed in the middle and late 1980s, and 1987- 1989 was its heyday. With the signing of the 1985 Plaza Agreement, the yen began to appreciate sharply. The exchange rate of 1988 yen rose to 1 USD 120 yen, which was 2 times higher than that under the fixed exchange rate system of 197 1 year. As a result, the price of Japanese export commodities rose, which weakened Japan's competitiveness in the global trade market.
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2. Periodic
1? breeding cycle
The outbreak of capitalist economic crisis has the characteristics of periodicity, that is, it happens every once in a while. The time between two crises is called a reproduction cycle, which generally includes four stages: crisis, depression, recovery and upsurge. The crisis stage is the decisive stage.
2? Reasons for the outbreak of periodic crisis
The reason for the periodic outbreak of capitalist economic crisis lies in the characteristics of capitalism's own basic contradictions.
3? The material basis of the periodicity of economic crisis
The material basis of the periodic outbreak of capitalist economic crisis is the large-scale renewal of fixed capital.
Large-scale renewal of fixed capital usually occurs in the depression stage of reproduction cycle, which is the material basis of periodic economic crisis, because:
(1) The large-scale renewal of fixed capital has prepared material conditions for temporarily getting rid of the crisis and promoting the recovery and the arrival of the boom stage.
(2) The large-scale renewal of fixed capital has created a material premise for the next crisis.
and
The cycle of prosperity and depression is inherent in capitalism. The government can make them more serious, sometimes not so serious, but if you cancel the government, you will still have periodic economic crises.
Periodic prosperity and depression are endogenous organisms of capitalism. The government can make it worse and sometimes lower it. But even without a government, you still have to go through periodic economic crises.
The above two points show that the cyclical economic crisis is inherent in capitalism, and whether there is a government or not will have a crisis, so it should be cyclical, not because of policies.
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Bankers are rational, not blind. They also have their own little plans. Suppose I am a banker. In the process of rising house prices, I lend you money, you buy a house, and I eat your interest. If you can't pay the interest, I will mortgage your house. It is easy to say that the house price has gone up, and it has fallen below your principal. You just don't pay back the money. Even if I take your house, I will accompany you, so the investment bank finally lost generously.
In fact, this is just a crisis in the subprime mortgage market. Later, it should be transmitted through the capital chain, and then there are some financial levers, and then it becomes bigger and bigger, and finally a financial crisis is formed.
As for the economic crisis, I personally think it is not now, hehe.