China’s struggle for a new economy

http://www.ft.com/intl/cms/s/0/1e4472ae-b348-11e3-b09d-00144feabdc0.html#axzz2x1LxnDf2

2014.03.25 By Martin Wolf

The big question now is whether the corrective forces in the economy could overwhelm the ability of the authorities to manage the needed adjustments smoothly.

Some might argue that a crash is precisely what is needed. The authorities will disagree and so, which matters not at all, do I. They also have many levers under their control. Nonetheless, the downside risks from financial stress and macroeconomic adjustment have been rising sharply. I plan to assess the scale of the risks and possible responses next week.

울프 뷰 : When a superb horse meets a high obstacle, the odds are on the horse. But even the best may fail

<단어>

pessimism : Pessimism is the belief that bad things are going to happen

colossus : If you describe someone or something as a colossus, you think they are extremely important and great in ability or size

wager : 도박하다

superb : IF something is superb, its quality is very good indeed

imperative : If it is imperative that something is done, that thing is extremely important and must be done

mind-numbing : 너무나 지루한

peril : peril are great dangers.

implode : If something implodes, it collapse into itself in a sudden and violent way.