Financial bubble refers to the economic phenomenon that the market price of one or a series of financial assets is higher than the actual price after the continuous price increase. The financial bubble is an illusion that improper macro-control in the economy, excessive investment leads to excessive inflation of asset prices, blind pursuit of economic growth, rapid expansion of domestic investment scale and false prosperity. When the financial bubble began to burst, the main characteristics were that people's consumption was soaring, prices were rising, and people spent money without saving or saving very little.

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