2015考研英语阅读中国经济不咋地_大学英语阅读

2015考研英语阅读中国经济不咋地

　　同时，地方政府也被放出了借款者的牢笼。报告称，中国银行也监管机构已经让各家银行对更有资格的融资平台增加贷款。这些融资平台也早就增发他们的债券，今年就已经发行了价值超过4200亿元的纸张了。

　　These twin turnarounds might be good newsa sign that property prices have stabilised andlocal governments have restored their creditworthiness. But they could also be signs ofdesperation, evidence that the central government has lost its nerve in the face of fallinggrowth.

　　这一对转变可能是个好消息标志着房地场价格已趋于平稳，而且地方政府也已重铸其贷款信誉。但这也可能是绝境的信号，证明中央政府已经在下降的经济增长面前失去了勇气。

　　The rise in local-government borrowing is something in between: a defensible response to aworrying slowdown. China s economy does need help, and its government has ample scopeto provide it. Some local governments took on more debt than they could handle. But theirliabilities never endangered the fiscal position of the country as a whole. The combined debtsof China s central and local governments add up to about 50% of the country s GDP . Even if local debts are understated, China has fiscal room forerror. Local governments will also borrow less and invest better than they did in theprevious stimulus effort, argues Peng Wensheng of China International Capital Corporation,a Chinese investment bank. The pressure for policy easing is much less now than it was inNovember 2008, he says.