With China’s growth comfortably back where the government wishes it to be, at 7.5 per cent, the markets have reverted to their usual schizophrenia. They rejoice that the engine of growth for many Asian and Latin American countries is back on track. Simultaneously, though, they fret that growth bought by a return to easier credit policies will lead to deeper troubles in China. Fears of the disruption accompanying any slowdown have been replaced by worries of the consequences of excessive leverage.
中國經濟成長率輕鬆地回升到7.5%這個政府制定的目標，投資者也隨之回覆到了他們往常所處的精神分裂狀態。一方面，他們感到歡欣鼓舞，樂見身爲諸多亞洲和拉美國家成長引擎的中國迴歸了正軌。另一方面，他們又憂心忡忡，擔心中國重新利用較寬鬆信貸政策來保證成長會引發更深層次的問題。原先他們害怕中國經濟不平穩會伴隨成長放緩，現在他們則轉而擔憂過度的槓桿會導致的種種後果。
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