宏观经济过热实质上来源于经济上的困境

Economic Heatedness Originating from Economic Difficulties

本文论述这一轮中国经济过热的背景和实质是源于经济上的困境,即整个经济中占主导地位的是需求不足的趋势,求大于供的过热只是很短暂的现象。因为拉动这轮经济过热的基础设施建设、特别是房地产投资和家用汽车购买缺乏坚实的经济基础,约有一半的资金来源于金融贷款。

The text argues that this round of overheating of the economy originated from the economic difficulties, i.e. the dominant trend of lack of demand, and demand bigger than supply is only a short term phenomenon. Infrastructure expansion, especially the heat of real estate investment and buying family cars are not based on solid economic foundations and the bubble in real estate market should be controlled as early as possible.