中文：

泡沫经济是指经济中出现虚假繁荣的现象，这种繁荣主要依靠大量资金和资源的投入，而不是实实在在的生产力增长。当这种虚假繁荣破灭时，会导致经济大幅度下滑，甚至引发金融危机。

泡沫经济的形成通常与资产价格的上涨有关，例如房地产、股票等价格的上涨。这些价格上涨吸引了大量资金和投资者的进入，进一步推高了价格，形成了所谓的“泡沫”。一旦泡沫破裂，价格会迅速下跌，导致大量投资者和金融机构遭受损失，从而引发金融危机和经济衰退。

泡沫经济的形成还与市场参与者的心理和行为有关。当市场参与者过于乐观和自信时，他们可能会忽视风险，过度投资和借贷，导致市场出现过度热络的现象。而当市场情绪逆转时，泡沫就会破裂，导致市场崩溃和经济衰退。

为了避免泡沫经济的出现，政府需要采取适当的政策措施，例如加强对金融机构的监管、控制货币供应量、提高透明度和加强信息披露等。此外，投资者也需要保持理性，不要盲目跟风或冲动投资，要充分了解投资产品的属性和风险，并制定合理的投资策略。

英文：

Bubble economy refers to the phenomenon of false prosperity in the economy, which mainly relies on the input of a large amount of funds and resources rather than real productivity growth. When this false prosperity collapses, it will lead to a significant decline in the economy and even cause a financial crisis.

The formation of bubble economy is usually related to the rise in asset prices, such as housing prices, stock prices, etc. The rise in these prices attracts a large number of funds and investors to enter, further pushing up prices and forming the so-called "bubble". Once the bubble bursts, prices will fall rapidly, causing losses to a large number of investors and financial institutions, thus triggering a financial crisis and economic recession.

The formation of bubble economy is also related to the psychology and behavior of market participants. When market participants are too optimistic and confident, they may ignore risks, overinvest and overborrow, leading to market overheating. And when market sentiment reverses, the bubble will burst, causing market collapse and economic recession.

To avoid the emergence of bubble economy, the government needs to take appropriate policy measures, such as strengthening the supervision of financial institutions, controlling the money supply, increasing transparency and strengthening information disclosure. In addition, investors also need to be rational, not blindly follow the trend or act on impulse, but fully understand the attributes and risks of investment products and formulate reasonable investment strategies.