考虑到工业利润增长下降（从2013年的12.2%下降到去年的3.3 % ） 和地方政府卖地收入下降（2014年下降37 % ） ，不禁令人担忧，目前的通缩周期可能引发企业和地方政府的债务危机。
Given huge declines in industrial profit growth (from 12.2% in 2013 to 3.3% last year) and in local-government revenues from land sales (which fell by 37% in 2014), there is considerable anxiety that today's deflationary cycle could trigger corporate and local-government debt crises.