1 First of all, you should understand inflation and deflation. Inflation simply means that there is too much money, which makes our money worthless (the real value of money has decreased), while deflation means that there is insufficient money supply in the market, which leads to a decline in people's purchases. Prices are falling, you should know what we generally call economic crisis, and economic depression refers to deflation (so you will find that foreign countries often talk about inflation but seldom talk about deflation, because economic crisis is deflation). Let's look at your question again. After the Plaza Agreement was signed, the US dollar depreciated and the Japanese yen appreciated (you don't think depreciation is bad, in fact, the depreciation of foreign currencies is good and can be beneficial to exports, so the United States has always liked to devalue the US dollar and appreciate the RMB). This is to suppress Japan, because Japan developed too fast before (a bit like China now), and the United States spent more money to create a lot of bubbles in the Japanese economy, so the Japanese economy developed faster and faster. When the time came, the United States withdrew its capital and the bubble burst. At this time, the yen appreciated internally, and the appreciation was very strong. This is because money supply is in short supply, prices are falling, and people's purchases are falling. What is this phenomenon? This is deflation, that is, the economic crisis, and the depression is coming. Here, what you should pay attention to is that the promise will be reversed. The crisis didn't come suddenly. It's just developed to the extreme. You know that our money is valuable when it appreciates inside the currency, but when it develops to the extreme, there will be a crisis. So the economic crisis is extreme (there is a bubble, you can look at the financial crisis in the United States, which is cyclical). Therefore, many of our policies are contradictory, and the key is to grasp the degree. So the Great Depression in Japan was deflation.

2. You are right. The United States really doesn't want China's economy to collapse completely, because now China has played an important role in the world economy, and the world economy cannot be separated from China. So foreign countries love and fear China. They need China's market and China to participate in their economic game, but they are also afraid that China will be too strong. This is the case in the United States, which wants to get in touch with China and does not want to be surpassed by China. Japan in the past is a good example, when it developed too fast and was overshadowed by the United States. I haven't recovered my strength yet.