With the recent monetary easing, the Chinese authorities seem to be drawing a line in the sand to prevent an excessive drop in growth.&nbsp;This&nbsp;suggests that they now&nbsp;view a cyclical disruption as a real threat to the country’s longer-term structural-reform agenda. To the extent that those fears persist, additional monetary easing can be expected.
最近的货币宽松表明中国当局正在划定阻止增长过度减弱的底线，他们将周期性干扰视为对中国长期结构改革日程的真正威胁。由于这一担忧是持久的，可以预期还会有更多的货币宽松。