It is now caught in a trap between inflation and deflation.
2
我们讨论了如何探索正确的道路，规避通胀与通缩、长时间财政浪费和过早节俭的风险。
And we have discussed how to chart the right path to steer clear of the dangers of deflation and inflation, prolonged fiscal profligacy and premature frugality.
3
随着经济企稳，你必须以与信贷复苏同样快的速度收缩货币基础。否则，通胀将取代通缩。
As the economy stabilises you must shrink this base as fast as credit revives - otherwise, deflation will be replaced by inflation.
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