Superficially，Sino-U.S.disputeon RMB exchange rate and Japan-U.S.dispute on Yenexchange rate， both due to the long-term trade surplus，runin the same groove. However，deepanalysis shows theU.S.pressure on Chinese RMB exchange rateis much smaller than that on Japanese Yen. This is mainlybecause(i)Sino-U.S. trade is highly complementary；(ii)China's WTO entry commitments has provided appropriate legal safeguards to alleviate the imbalance in Sino-U.S.trade；and(iii)China possesses greater autonomy on exchange ratepolicy. After Japanese Yen appreciation，Japan's improper disposal of domestic and foreign economicpolicies induced its long-termeconomicrecession. Facing U.S.pressureon RMB exchangerateappreciation，China should draw a lesson from Japanese，to defend from international lawl evel and make appropriate adjustment on the economic structure and the development models，so as to ease the pressure on RMB exchangerate appreciation.