Abstract

From 2007, a subprime storm began to blows from the US, and sweep across the whole world with a rapid speed. It makes the world economic growth slow -down, even Iceland and a fraction of the world’s countries fall into bankrupt. Behind this, the dollar hegemony of which the United States has been proud is exactly the main reason. Actually, the appreciation of RMB and the interest rates raised by the U.S. Federal Reserve have triggered the subprime mortgage crisis. Although the direct impact on China is not extremely great, the indirect influence can’t be underestimated. Face to the crisis, China should learn this lesson from it, control the real estate bubble, expand domestic demand and reduce the gap between rich and poor in order to realize the economy transformation.

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