China’s three decades of 10% annual hyper-growth led to unsustainable strains – outsize resource and energy needs, environmental degradation and pollution, and mounting income inequality. Huge Chinese current-account surpluses resulted from too much saving and too little consumption.
失衡愈演愈烈。持续三十年、每年10%的超常增长让中国陷入了不可持续的约束中——巨大的资源和能源需求、环境破坏和污染、日益加剧的收入不平等。巨额中国经常项目余额来自储蓄过多而消费过少。