But China’s $3.2 trillion problem will become a 20-trillion-renminbi problem if China cannot reduce its current-account surplus and fence off capital inflows. There is no escape from the need for domestic structural adjustment.
但如果中国不能减少其经常项目盈余和资本流入问题，那么3.2万亿美元的问题将转变为20万亿人民币的问题。国内结构调整在所难免。