Time and again, regulators and policymakers – to say nothing of political leaders – have been asleep at the switch in condoning market excesses. In a globalized world where labor income is under constant pressure, the siren song of asset markets as a growth elixir is far too tempting for the body politic to resist.
从更广的角度，与日本、美国和欧洲一样，毫无疑问促使中国进行市场操纵的是巨大资产泡沫带来的风险。监管者和决策者——更不用说政治领导人了——一再守着遏制市场过度的开关睡大觉。在劳动收入被持续抑制的全球化世界中，把资产市场当作万灵丹的诱惑实在太大，国家难以抵御。