In short, China’s growth model has been stretched as never before. And, like a piece of fabric, the longer it remains stretched, the longer it will take to return to its former resilient state – and the greater the possibility that it will not spring back the next time something goes wrong.
简而言之，中国的增长模式被史无前例地扩张。而且，就像一块布料，它被拉伸的时间越长，要回到原来有弹性的状态的所需的时间就越长——而且越有可能下一次出了什么差错，它再也恢复不到有弹性的状态。