Back at the macro level, China needs to reallocate responsibilities and resources among the various levels of government, in order to capitalize on their comparative advantage in providing services and raising revenue. And the country must gradually reduce its total debt load, which now exceeds 250% of GDP.
回到宏观层面，中国需要在各级政府间重新分配责任和资源，以利用它们在提供服务和筹集收入方面的比较优势。经济必须逐渐降低债务负担（目前已经超过GDP的250%）。