A worrying development in this regard is the rapid rise in enterprise debt, which, according to various studies, now surpasses 120% of GDP – much higher than the leveraging rates of nonfinancial enterprises in major developed countries. Even if this does not trigger a crisis, it sharply narrows the government’s scope for using expansionary fiscal policy to stimulate the economy.
另外一个令人担忧的情况是企业债务的快速上升，根据各种研究，现在已经超过了GDP的120%——这比主要发达国家非金融企业的杠杆率还要高得多。即便这不会引发危机，它也会急剧减少政府使用扩张性财政政策来刺激经济的运作余地。