There are no signs that China’s slowdown has bottomed out. A turnround would require some combination of a pickup in investment, exports or consumption in the midst of current efforts to deleverage and this is unlikely to happen soon. More than a decade ago during the Asian financial crisis, China was able to revive growth despite a similarly severe debt problem by tapping buoyant global markets facilitated by its accession to the World Trade Organisation.
目前沒有跡象顯示中國的經濟放緩已經觸底。經濟形勢好轉需要多種因素的疊加作用，包括投資、出口或者消費回升，在當前官方試圖引導“去杠桿”的大環境下，這不太可能很快發生。十多年前，在亞洲金融危機期間，中國在面臨與當前類似的嚴重債務問題的情況下成功重振經濟增長，靠的是利用繁榮的國際市場，而中國加入世貿組織(World Trade Organisation)為此提供了便利。
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