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近年来,中国的债务问题成为国际社会普遍关注的焦点。有些国际机构认为当前中国债务负担过重,可能会爆发债务危机。我们不讳言中国经济确实面临很多挑战,但不能轻易得出债务水平过高并会出现危机的结论。准确认识中国当前的债务问题,有助于厘清危机的形成机制和可能爆发点,避免引发自我实现式的债务危机。衡量债务水平的标准存在缺陷首先,仅凭常用的标准有可能会对中国的债务问题形成误判。目前,学术
In recent years, China’s debt problem has become a common focus of attention of the international community. Some international agencies think that China’s current debt burden is too heavy and a debt crisis may erupt. We do not deny that the Chinese economy does face many challenges, but we can not easily draw the conclusion that the level of debt is too high and there will be a crisis. An accurate understanding of China’s current debt issue can help clarify the formation mechanism and possible breakout points of the crisis and avoid triggering a self-fulfilling debt crisis. First, there is a flaw in the standard for measuring debt levels. First and foremost, common-sense standards may misjudge China’s debt problems. At present, academic