You often hear economists and investors talk these days about the ‘broken growth model’ in emerging markets. It isn’t a terribly precise term but it’s easy to see what people mean. The problem in EM is that none of the three possible sources of GDP growth – exports, or public domestic spending, or private domestic spending – have much going for them.
如今你經常聽到經濟學家和投資者談論新興市場「成長模式破產」。這不是一個特別準確的術語，但我們不難看出人們所指的意思。新興市場的問題在於，國內生產毛額(GDP)的三個可能成長源頭——出口、公共國內支出和私人國內消費——沒有一個是強勁的。
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