But a broad framework for determining the timing of each policy step, based on rigorous cost-benefit analysis, is essential. While some measures that the PBOC has taken under the banner of capital-account liberalization have turned out to be both necessary and appropriately moderate, others may need to be reassessed and rescinded.
诚然，不应让谨慎的手段阻碍了资本账户自由化的进展。但基于严格的成本效益分析，用于决定每个策略步骤时机的大框架是很有必要的。事实证明在资本账户自由化的旗帜下，中国人民银行采取的有些措施很有必要且适当适度，而另外一些则需要重新评估或撤销。