你的新書建議美國應像中國一樣進行基礎設施支出以提振經濟。但有人說，中國經濟增長過快，可能硬著陸。你依然認為中國模式值得效仿嗎？

????每年都有懷疑論者稱，中國經濟即將“撞墻”。但中國每年的GDP增速連續20年都超過了7%。近年來兩國的數據對比更是差距顯著。

????看看美國剛剛出爐的第三季度數據，美國實際GDP僅略高于金融危機前2007第三季度的數據。只高出了0.5個百分點。而同一時期，中國的GDP增長了40%。這個差距太大了，令人觸目心驚。這么巨大的差異不容忽視，它說明中國人管理經濟問題的一套做法一定有值得美國人學習的地方。

如果美國不減債，將來會不會像歐洲一樣陷入債務危機？

????不會。歐洲的問題是歐元區17個成員國只有一家央行。假設希臘債券到期，投資者獲得歐元償付。他們不一定非得把這些錢放回希臘。他們可以把這些錢放到德國或其他歐元區國家。美國不可能出現這種情況。這些錢必須回到美國的金融系統。在英國，英鎊必須回到英國的金融系統。而在中國，則必須回到中國的系統。歐洲的情況完全不同，這是歐洲很多聰明人還沒搞明白的一個根本問題。

那么，美國債務可以一直、一直增長，不會出現任何問題。這個觀點很大膽，您說呢？

????這個觀點確實很大膽，但在邏輯上是成立的。

In your book, you suggest the U.S. should spend like China spends on infrastructure to boost its economy. But some say China's economy is growing too fast and could be in for a hard landing. Would you still say China is the right model to follow?

????Every year there are skeptics who say China is going to hit a brick wall. But for 20 years in a row, GDP has grown over 7% a year. The contrast recently is particularly striking.

????If you look at the third quarter figures that just came out for the U.S., in real terms, GDP in the U.S. is just barely above where it was prior to the crisis during the third quarter of 2007. It's only one half of one percent greater. During that same period, China's GDP is up 40%. It's just staggering. There's got to be something that we in America can learn from how China has been addressing its economic issues because this difference is too striking to ignore.

If the U.S. doesn't work to reduce its debt, couldn't we end up like debt-troubled Europe?

????No. The problem is that Europe has a central bank for the entire 17-nation eurozone. Suppose a Greek bond matures in Greece. Investors get paid in euros. They don't have to put that money back in Greece. They can put it in Germany or the other countries in the eurozone. In the U.S., that's not possible. It has to go back into the U.S. financial system. In the U.K., pounds have to go back into the U.K. financial system. And in China they have to go back into the Chinese system. Europe is a totally different situation, and its' a fundamental issue that a lot of smart people in Europe haven't grasped yet.

So U.S. debt can grow and grow and it shouldn't be a problem. That's a bold statement, isn't it?

????It's a bold statement but it's true – logically.