The problem with the emergence of these new growth engines is that it enabled China’s leaders to delay important structural reforms. As a result, China now faces many of the same challenges it faced in the late 1990s – beginning with overcapacity.
伴随新增长引擎出现而出现的问题是它让中国领导人推迟了重要的结构改革。结果，如今的中国面临着许多与20世纪90年代末同样的问题——首先就是产能过剩。