KEY POINTS（核心要点）
1-This long-termism may be to blame for China’s unhurried response to its urgent economic woes.
这种长期主义可能是导致中国对当前紧迫经济问题反应不够迅速的原因。
2-The authority may also be biding their time. In keeping with their reputation for farsightedness, they may be keeping their powder dry until they know how much damage Donald Trump’s second presidential term will inflict on their country’s economy.
官方可能也在等待时机。根据他们以远见著称的声誉，他们可能在等待了解唐纳德·特朗普第二任总统任期将对他们国家的经济造成多大损害之前，保持实力。
3-But this watchful waiting would be a mistake for China. Greater fiscal stimulus today does not preclude even more stimulus later if necessary.
但目前的观望态度可能不是最佳选择。现在实施更积极的财政刺激措施，并不会影响到未来如果需要时再增加刺激的可能性。
4-China would also be in a stronger position to withstand American tariffs next year if the government successfully reflated the economy first. A higher rate of inflation would, for example, give China’s central bank more room to respond to further setbacks by lowering real interest rates.
如果首先成功地使经济再通胀，那么中国明年在抵御美国关税方面也将处于更有利的地位。例如，更高的通胀率会给中国央行更大的空间，通过降低实际利率来应对进一步的挑战。
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