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产能的过剩不是中国特有的,但是中国的经济总量大,问题会相对严重一些——毫无疑问,2008年夏天,美国次贷危机引发的全球经济下降,陡然减少了中国经济增长的外部空间。这个局面让我回想起1998年的状况。
The surplus of production capacity is not unique to China, but China’s total economy is huge and the problems will be relatively serious. Undoubtedly, the global economic decline triggered by the U.S. subprime mortgage crisis in the summer of 2008 suddenly reduced the external space for China’s economic growth . This situation reminds me of the situation in 1998.