But the political reality is that China’s government favors rapid growth in the short run over the structural reforms needed to sustain long-term economic performance. Fiscal consolidation and the abrupt closure and restructuring of inefficient banks and state enterprises would, after all, constitute a powerful brake on short-term growth, threatening social peace and political stability.
但是，政治现实是，中国的各级政府偏好于短期快速经济增长胜过长期经济表现所需要的结构性改革。巩固财政的要求以及突然关闭和重组效率低下的银行及国有企业毕竟会对短期增长踩急刹车，威胁到社会安定和政治稳定。