Reduced rates of return will lower investment rates. China may be able to rely on policy reforms to boost productivity growth; but, with relatively low innovative capacity, it will struggle to catch up with frontier technologies.
在中国，新增劳动力由于出生率下降和人口老龄化而下降。资本回报率的减少会降低投资比率。中国也许能够依靠政策改革来促进生产力增长；但由于其创新能力相对较低，它将很难赶上前沿技术。