这些改革是非常关键的，因为归根结底摆脱债务通缩陷阱要求中国提升全要素生产率 — — 在这一方面，民营部门更适合充当推动者的角色。
Such reforms are crucial, because, ultimately, escaping the debt-deflation trap will require China to rejuvenate total factor productivity – an effort that the private sector is better equipped to lead.