通胀回落与利率调整并不矛盾

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从今年1-5月的数据观察中国宏观经济,可以得出一个基本结论:中国景气的巅峰已过,目前正在缓慢滑坡,宏观调控的基调应该及时进行调整。2004年初我国外贸是逆差状态,而到去年年底和今年年初外贸顺差激增,显示需求明显下滑。此外,流入中国的外国直接投资也在缓步不前甚至有所滑坡。 Observing China’s macro economy from the January-May data of this year leads to a basic conclusion: the peak of China’s economy has passed and is now slowly declining. The tone of macroeconomic regulation and control should be adjusted in time. At the beginning of 2004, China’s foreign trade was in a deficit state. However, surging foreign trade surpluses by the end of last year and the beginning of this year showed a marked decline in demand. In addition, the inflow of foreign direct investment into China is also sluggish or even slipped.
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