China’s announcement on Tuesday that inflation in May hit a three-year high of 5.5 per cent and industrial expansion exceeded expectations will buttress those who see an inevitable economic crash coming. But even those who think a soft landing is possible seem to agree that China’s economic growth is unbalanced, with these imbalances widely blamed for trade surpluses with the west. This view, however, is much exaggerated.
中國(guó)上周二宣布，5月份通脹率為5.5%，為3年來(lái)高點(diǎn)，工業(yè)增長(zhǎng)也超出預(yù)期。這將為那些認(rèn)為中國(guó)經(jīng)濟(jì)必然崩盤的人提供口實(shí)。但即使是那些認(rèn)為有可能實(shí)現(xiàn)軟著陸的人似乎也認(rèn)同：中國(guó)的經(jīng)濟(jì)增長(zhǎng)失衡——人們普遍將中國(guó)對(duì)西方的貿(mào)易順差歸咎于這種失衡。然而，這種觀點(diǎn)有些過于夸大其辭。
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