中国开始真正步入增长动力转换的年代。必须改变“三驾马车”的分析思路框架,放眼于长期供给的新分析框架,因为长期供给才是决定一国潜在增长轨迹的关键。随着我国10月份宏观经济数据的相继出炉,宏观经济趋向稳定,短期增长无需多虑,但长期增长仍存隐忧,中国经济已经进入一个潜在经济增长率逐步下移的新阶段。与金融危机时的经济减速比起来,本轮经济减速最大的不同是中国持续高增长 China began to really enter the era of growth-power conversion. The analytical framework of “Troika” must be changed to look at the new analytical framework for long-term supply because long-term supply is the key to determining the trajectory of a country’s potential growth. With the release of China’s macroeconomic data in October, the macroeconomy has tended to be stable and there is no need to worry about short-term growth. However, long-term growth remains a worry and China’s economy has entered a new phase in which its potential economic growth rate gradually declines. Compared with the economic slowdown during the financial crisis, the biggest deceleration of the current round of economic slowdown is China’s continued high growth