But China’s vulnerability to these factors, as serious as they are, is symptomatic of deeper institutional problems. Until these underlying constraints are addressed, talk of a new consumption-based growth model for China, reflected in the government’s recently approved 12th Five-Year Plan, can be no more than lip service.
但中国对这些因素如此脆弱只不过是深层次制度问题的表征。除非其基础性约束得到修正，否则关于基于消费的增长模式的说法——见于中国政府最新的十二五规划中——就只能是空谈。