这些包括对国有企业和地方政府的松散预算约束、 政府对债务的隐性/公开担保以及金融领域的过度冒险行为 — — 所有这些行为都是不可持续的官方增长目标下长期存在。
These include soft budget constraints for state-owned enterprises (SOEs) and local governments, implicit and explicit government guarantees of debt, and excessive risk taking in the financial sector – all of which have been perpetuated by unsustainable official growth targets.