In such economies, that pattern not only typically depended on leverage; it also enlarged the non-tradable side of the economy and shrank the tradable side. And yet, given that the non-tradable sector is constrained by its reliance on domestic demand, recovery – if it comes – will depend on the tradable sector’s growth potential.
许多发达经济体仍必须克服来自内需过剩的危机前增长模式的结束造成的后果。在这些经济体中，这一模式不仅往往依赖于杠杆；也常常扩大了经济中的不可贸易部门，压缩了可贸易部门。此外，由于不可贸易部门受其对内需的依赖，复苏——即使到来——将取决于可贸易部门的增长潜力。