经过多年高速增长,中国经济日益复杂,货币管理机构的组织架构和应对手段,远远落后于现实需要。政府和民众对于通胀的矛盾、不安甚至恐慌,也是政策失当的根源。我认为,适时地推出通货膨胀保值国债和其他类债券,应该成为这轮宏观稳定政策的点睛之笔。 After years of rapid growth and increasing economic complexity in China, the organizational structure and coping strategies of the monetary authorities lag far behind the needs of the realities. The contradictions, unease and even panic of the government and the general public on inflation are also the root causes of policy misconduct. In my opinion, timely introduction of inflation-protected national bonds and other types of bonds should be the crowning punch in this round of macro-stability policies.