No wonder China’s economy is cooling fast. In spite of Beijing’s three interest rate cuts over the past six months, the real cost of capital has surged to its highest level since the aftermath of the financial crisis as the country’s grinding deflation deepens.
難怪中國經濟正迅速降溫。盡管中國在過去6個月里三次降息，但隨著該國令人頭疼的通縮進一步加劇，其實際資金成本已飆升至金融危機結束以來的最高水平。
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