A sizeable reduction in aggregate demand through RMB appreciation is achievable without being imprudent, because the current-account surplus in 2007 was 9.5 % of GDP. Investment (especially in infrastructure in backward areas and social investments) should not bear the brunt of the expenditure squeeze, because today’s investment is also tomorrow’s growth in production capacity; and the production of more goods tomorrow would reduce inflation.
通过人民币升值来大幅度减少总体需求并非草率，是可以实现的，这是因为2007年的经常项目顺差是GDP的9.5%。投资(特别是在不发达地区的基础设施和社会投资) 并不应该成为开支紧缩的牺牲品，因为当今的投资可以提高今后的生产能力；而今后生产更多的产品将会减少通胀。