China should continue along this path, pursuing the kind of monetary-policy approach – aimed at securing the right combination of prices and employment – that prevails in free-market economies. Continued currency depreciation would provide a much-needed boost to the slowing economy, just as depreciation of the yen through Abenomics has helped to lift Japan out of a protracted recession.
股市崩盘后不久，政府允许人民币贬值。中国应该沿这条路走下去，坚持采用这种为自由市场经济体所普遍采用的旨在确保价格和就业最佳组合的货币政策方法。持续的货币贬值将为经济放缓提供迫切需要的提振，就像安倍经济学利用日元贬值协助日本摆脱了一场旷日持久的经济衰退。