NEW YORK – The problems with China’s economic-growth pattern have become well known in recent years, with the Chinese stock-market’s recent free-fall bringing them into sharper focus. But discussions of the Chinese economy’s imbalances and vulnerabilities tend to neglect some of the more positive elements of its structural evolution, particularly the government’s track record of prompt corrective intervention, and the substantial state balance sheet that can be deployed, if necessary.
发自纽约——中国经济增长模式所产生的问题在近期广受关注，而中国股市最近的直线下跌使它们成为了更为尖锐的焦点问题。但对中国经济失衡和脆弱性的讨论往往忽视结构性变革中一些更为积极的元素，尤其是政府过往那些迅速纠偏行动，以及在必要时可以动用的大量国家资产。