Here is an economic analysis:
China’s property bubble
Takatoshi Ito 15 April 2010
One objection to the calls for China to let its currency appreciate argues that the yen’s appreciation during the 1980s was a cause of Japan’s “lost decade”. This column instead blames policymakers for not dealing with Japan’s property bubble early enough. China should learn from these mistakes with its own property bubble and let the renminbi appreciate.
http://www.voxeu.org/index.php?q=node/4885
Nice article; thank you very much.