本刊学术顾问、国务院发展研究中心高级研究员吴敬琏日前在描述中国当前经济状况时,借用了一位经济学家的话,“没有温度的高烧”。吴敬琏认为,虽然中国当前的消费物价指数并未出现上涨,但是过量供应的货币转向了资产市场,使得房地产为首的资产市场过热,这也是经济过热的一种表现。比如日本,当该国在八十年代被迫使得日元升值以后,日本出口发生了困难,于是就采用扩张性货币政策,货币大量超发,之后日本经济一直处 Our academic consultant and senior researcher Wu Jinglian of the State Council Development Research Center recently borrowed an economist when describing the current economic situation in China. He said: “There is no temperature fever.” Wu Jinglian believes that although the current CPI in China has not risen, over-provisioned currencies have shifted to the asset market, overheating the real estate-led asset markets, which is also a manifestation of the overheating economy. Japan, for example, suffered from difficulties in its export after the country was forced to appreciate the yen in the 1980s. As a result, it adopted an expansionary monetary policy that caused massive currency overhauls,