问题在于中国的官员更偏好短期稳定，且相信政府比市场更有能力调控短期经济波动，他们往往将调控短期经济波动的权利保留给政府及市场监管者。 而这往往导致政府宏观调控权力的扩大及市场自然调节过程的弱化，结果往往是阻碍了创新和增长。
The problem is that the Chinese bureaucracy prefers stability, and it has strong incentives to strengthen its own position relative to the market, thereby exacerbating power inequalities and dampening innovation and growth.