But if, for whatever reason, the global economy fails to take off, we will have to reconcile ourselves to a long period of mediocre growth in which cheap capital depresses yields, drives up asset prices, inflates bubbles, and seeks out trophy assets. These are not the sort of imbalances to which the world’s policymakers should aspire.
没有理由表明布雷顿森林3不能重现这一失衡。但是，不管出于什么原因，如果世界经济无法起飞，我们继续要让自己适应长期平庸增长，忍受廉价资本抑制收益率、太高资产价格、产生泡沫、寻找圣杯资产。这类失衡可不是世界决策者应该追求的。