With all major indicators suggesting a significant decline in China’s growth potential, China’s leaders must accept the reality of lower growth and adjust their priorities accordingly. Succumbing to the temptation of massive monetary and fiscal stimulus, such as that pursued in the wake of the global economic crisis, would not only fail to boost growth in a sustainable way; it would actually undermine growth and stability in the medium to long term.
所有主要主表都表明中国增长潜力将显著下降，中国领导人必须接受增长放缓的现实并据此调整重点。接受大规模货币和财政刺激的诱惑——如全球经济危机爆发时那样——不但不能刺激可持续增长；实际上还会破坏中长期增长和稳定。更好的方针是将重点放在让经济增长更加可持续。