如几十年前的日本所发生的，中国正在面临来自越南等国家的低成本竞争；中国股市泡沫巨大；而习近平的反腐运动尽管广受普通群众支持，但也造成了“游戏规则”的巨大不确定性。
As occurred in Japan decades ago, China is starting to face lower-cost competition, such as from Vietnam; its stock market is frothy; and Xi’s anti-corruption program, though popular with ordinary citizens, has led to widespread uncertainty about the “rules of the game.”