The article analyzes the causes and impact of the "financial cliff" crisis.It argues that the high consumption pattern in the dollar system is the root cause of the crisis.The author points out the crisis would have some impact for China and the world.China can get inspiration from the crisis: Firstly,to stabilize the economic growth target and link the tax cuts with the structural adjustment.Secondly,not to be biased to investment,consumption and exports for economic growth troika and over reliance on export or over reliance on consumption is not conductive to maintaining steady economic growth.Thirdly,adequacy of the gold reserves should be basic conditions if RMB wanted to become an international currency and maintained its currency stability.The article advocates an increase in gold reserves,rather than a large number of U.S.dollar assets. <<