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宏观经济仍处于“慢着陆”的过程,而“慢着陆”对经济伤害未见得小于“硬着陆”。我们认为人民币适度升值,以及与之配套的缓冲性措施,将有利于更有效地实现经济的降温。
The macroeconomy is still in the “slow landing” process, while “slow landing” is not less harmful to the economy than “hard landing.” We think a moderate appreciation of RMB and its accompanying cushioning measures will help cool the economy more effectively.