Anybody who looks carefully at the world economy will recognise that a degree of monetary and fiscal stimulus unprecedented in peacetime is all that is prodding it along, not only in high-income countries, but also in big emerging ones. The conventional wisdom is that it will also be possible to manage a smooth exit. Nothing seems less likely. So let us consider the endgame, instead.
任何細心關注世界經濟的人都會發現，一直維繫著經濟向前發展的，是一定程度的貨幣與財政刺激——在「和平時期」未曾見過，不僅高收入國家如此，大型新興經濟體亦是如此。人們通常認爲，我們也有可能實現平穩退出。這種可能性似乎非常之大。那麼，讓我們轉而思考一下如何收官的問題。
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