Unfortunately, current policy is justified in terms of “pro-market” – effectively pro-cyclical – choices. But it is counter-cyclical efforts, institutions, and instruments that are sorely needed instead.
不幸的是，当前政策的评判标准是是否“亲市场”，即是否亲周期。但唯有反周期政策、制度和工具才是当今之所需。