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中国经济的不景气已经持续了较长时间。如果说１９９３－１９９６年中国成功地实现了软着陆，从而其中的某些指标下降还是符合政府宏观调控目标的话，那么，１９９６年以后的经济下滑就不再是政策当局所期望的了。物价水平从１９９７年１０月开始下降，到目前已持续了２０多个
The downturn of China’s economy has lasted for a long time. If China succeeded in making a soft landing in 1993-1996 so that some of its indicators would fall in line with the government’s macro-control targets, the economic downturn after 1996 will no longer be what the policy authorities are expecting. The price level started to decline from October 1997 and has now lasted more than 20