197865438+February 18 -22, the Third Plenary Session of the Eleventh Central Committee was held in Beijing, which creatively established the basic line of "one center and two basic points" and marked the implementation of China's reform and opening up.

2. 1988: nationwide snapping up.

At the beginning of 1988, China decided to liberalize price control, cancel the dual-track price system and implement "price breakthrough". Rumors of various price increases are circulating among the people. People in some areas began to snap up commodities for fear of rising prices, and non-staple foods such as meat, eggs and sugar in state-owned shopping malls were snapped up in a short time.

3. 1998: Asian financial crisis

The Asian financial crisis began on1July 2, 1997, when Thailand abandoned the fixed exchange rate, and the Thai baht exchange rate plummeted 17% that day. Later, it spread to Hongkong, Taiwan Province, Japan, Korea, Philippines, Malaysia, Indonesia and Russia. During this period, the Hang Seng Index in Hong Kong dropped from a high of 16800 to more than 6600.

1In August, 1998, international speculators launched a new round of attacks on Hong Kong, while the American stock market was in turmoil and the yen exchange rate continued to fall. The Hang Seng Index has fallen to over 6600 points. The Hong Kong SAR Government retaliated, and the HKMA used the Exchange Fund to enter the stock market and futures market, absorbing the Hong Kong dollars sold by international speculators, and stabilizing the foreign exchange market at the level of 7.75 Hong Kong dollars 1 US dollar, which caused heavy losses to international speculators.

4.2008: American subprime mortgage crisis

In August, 2008, 65,438+10, Bear Stearns, a major American investment bank, announced that its two hedge funds related to subprime loans had closed down due to huge losses, with investors losing as much as $65,438.05 billion.

5.20 18: Sino-US Trade War

2065438+In the early morning of July 6, 2008, US President Trump confirmed to reporters aboard Air Force One that he would impose a 25% tariff on China goods worth $34 billion. These will take effect at 12: 0 1 (Beijing time 12: 0 1).

China has decided to impose a 25% tariff on 659 imported goods of about 50 billion US dollars originating in the United States, of which 545 items of about 34 billion US dollars of agricultural products, automobiles, aquatic products, etc. have been subject to a tariff increase since July 6, 2008.