China’s economy is changing. Indeed, it has to change, as I argued two weeks ago (“How to blow away China’s gathering storm clouds”, 20 March 2012). The good news is the scale of the external rebalancing. The bad news is that this is at the cost of larger internal imbalances.
中國經濟正處于變革之中。如我在兩周前所言(見FT中文網2012年3月22日文章《中國改革攻堅之戰》),中國經濟確實需要變革。好消息是,中國經濟的外部再平衡成績斐然。壞消息是,這一成績是以內部失衡加劇為代價取得的。
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