More generally, China must deploy its large balance sheet to deliver income or benefits that expand what households view as safely consumable income. Given that private investment responds mainly to demand, such measures would likely reverse its current downward path.
如今，任何财政刺激都必须集中在改善公共服务、鼓励消费和增加家庭收入上。假以时日，国家出资的社会保障的加速和扩张能够让家庭储蓄率下降。更一般地说，中国必须用其庞大的资产负债表增加收入和福利，让家庭眼中的可安全消费的收入有所提高。私人投资主要根据需求情况波动，因此这些措施有助于扭转当前的下降趋势。