在未来多年中，中国需要面对全球再次放缓、其出口市场进一步收缩的局面，因此必须不惜以冷却投资为代价提振消费，���不能依赖过度的信贷扩张来实现这一目标。
Confronted with another global slowdown that could depress its export markets for years, China needs to boost consumption even as it cools investment. And it needs to so in ways that do not rely on excessive credit expansion.