“The authorities do not consider it appropriate to incur large amounts of external debt until a number of practical bottlenecks in the economy, such as an inadequate transport network and energy constraints, have been tackled.” Why did China refuse to borrow more until their transport capacity and energy supply have further increased? (课文内容)
China’s financial borrowing is for industrialization and modernization. Without well-developed transport network and enough energy supply, however, industry and the entire economy could not be further expanded successfully. Therefore it's no time for borrowing them then, which could not be effectively used and result only in heavy interest payment.
