China was right to wait in adjusting its exchange rate, and it is now right to move gradually rather than discontinuously. The Chinese economy is growing at potential: forecasts put the prospective rate for 2010 at 10%; the first-quarter flash numbers, at 11.9%, show it expanding as fast as any economy can safely grow.
事实上，上述两种批评都错了。不论是之前暂缓调整汇率，还是现在选择渐进调整而非激进调整，中国都是对的。中国经济的增长率接近潜在增长率：多方预测2010年中国经济将增长10%；第一季度的初步统计是11.9%，表明中国经济的扩张速度已达到安全增长水平的上限，再快就不安全了。