At the IMF/World Bank spring meetings in Washington a week ago, downside risks to the Chinese economy were discussed solemnly, but calmly. There was no mood of crisis, no feeling that a major dislocation in the economy or the financial sector was imminent. Meanwhile, the surge in Chinese equity prices so far this year hardly seems to indicate an impending recession.
一週前在華盛頓舉行的國際貨幣基金組織(IMF)/世界銀行(World Bank)春季會議上，與會者嚴肅而冷靜地討論了中國經濟的下行風險。會場沒有危機氣氛，也沒有中國經濟或金融領域即將迎來一場大混亂的感覺。與此同時，今年以來中國股價大漲的行情，看起來也幾乎不可能預示著一場衰退即將到來。
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