In 1989, President bush has found the Japanese enterprise financing cost is much lower than the cost of financing of the same trade, so they were formed a concept, must make Japanese enterprise financing costs go up, so it must want to suppress the share price inflation, so they aimed at this Japan to exerting great pressure, the Japanese stock market form a relatively high valuations, mainly because the Japanese internal a large number of shares and plutocrats system, the United States through the political pressure make Japanese enterprise each other between the shareholding problem is restricted, especially bank shares of the listed companies hold proportion, fell from 5% to 2%, the enterprise mutual shareholding was also severely limits, so that makes a lot of stock is thrown out, the Japan's share price form a big pressure, in Japan in 1989, before the crash on the last time pressure, the pressure of the whole of Japan last financial market crash has played a very important role. And another point is, Japan's financial system rely heavily on the stock market, real estate market, so when the real estate market to a certain height after, if appear large-scale price declines, will be to Japanese financial system constitute a very serious consequences, through these a few respects, the United States finally make Japanese real estate market and the stock market had a great crash, that Japan's entire financial system in the long term is weak, substantial accumulation of LanZhang through many years, until now, still continuing to deal with such a bad loans, so the Japanese economy has long recession, is with the financial system, the plaza agreement with the financial system in the extreme expansion, and finally formed a huge LanZhang, after the bubble burst, gradually clean the LanZhang's long process are closely related. 
So in appreciation process, monetary policy is plays a key role, if it is depreciation, it would make a huge asset bubble, repeat the mistakes of the Japan, if in the process of appreciation that deal with like Germany, the interest rate rise strategy, it can be very effective avoid asset prices are rising too fast, and the formation of the asset bubble, it is also worth the proposed, because China now is also facing upward pressure, but what should interest rates set, should make reference to the experiences of Germany and Japan, is a successful experience, is a failure of experience.