But the biggest threat to growth will probably come from a slowdown in consumer spending, the mainstay of the sustained economic expansion of the past decade.
对增长最大的威胁可能来自消费减缓，而过去十年来消费都是维持经济扩张的主要支柱。
As economies become richer, they can rely less and less on the brute force of capital spending, coupled with a steady flow of cheap rural migrants, to fuel their expansion.
随着新兴经济体越来越富，他们会越来越少地依赖资本支出的强势支撑，再加上廉价农村劳动力源源不断的输入，又刺激了他们的扩张。
The long expansion was sustained by buoyant private consumption and public spending.
长期扩张有赖于繁荣的私人消费和公共支出。
The discrepancy could be explained by the spending of money borrowed in 2010 but idled since then, and credit expansion outside the banking system.
其差异可以由以下两个原因解释，其一，2010年已签订贷款合同但尚未正式启用的那部分贷款；其二是银行体系之外的信贷扩张。
French consumer spending, the motor of expansion over the past decade, is faltering.
过去十年法国经济增长的动力消费支出正在减弱。
Increased spending will lead to higher incomes and profits that, in a virtuous circle, will further support economic expansion.
消费增加会带来更高的收入和利润，从而进一步推动经济增长。这是一个良性循环。
But the fastest expansion in spending has been in railways (up by 111% this year).
但是增长最快的支出一直在铁路(今年的增长率为111%)。
Since the early 1980s, spending by households on goods, services and homes has grown faster than GDP, making it the locomotive of american-and global-expansion.
自20世纪80年代初期以来，家庭成员在商品、服务及房屋上的消费远远超过了GDP的增长，这种现象首先出现在美国，并影响到全世界。
Although the economy continues its expansion, the bank noted, consumer prices and spending had yet to impress (see chart).
他们注意到尽管经济持续扩张，但消费者物价指数同消费开支仍无起色(见图表)。央行希望看到二月中旬的关于去年第四季度的GDP数字后再作定夺。
As the expansion went on, it came to rely too much on consumer and public spending.
随着经济进行扩张，英国变得愈发依赖消费者和公共支出。
But with Pentagon spending facing a 5 to 10 percent cut over the next decade, something else is going to have to pay for such an expensive expansion in naval and air power.That something is the U.S..
但随着五角大楼在未来10年面对5 ~ 10%的预算削减，就需要从其他地方划出经费用于扩充海军和空军，这个地方就是美国陆军。
Some support to spending should come from the expansion of the asset purchase programme which would push up asset prices and stimulate expenditure by lowering borrowing costs and raising wealth.
资产收购会支撑购买力。这会推高资产价格，通过降低贷款成本和筹集资金来刺激消费。
The company will reduce travel spending by a fifth, eliminate merit salary rises in September, and scale back the expansion of its Puget Sound campus near Seattle, Washington.
该公司将减少五分之一的出差费用，9月份应得的工资增长完全被砍掉，并且缩减了其在华盛顿州西雅图的普吉特湾校区。
But the key issue is really money. China is already spending hundreds of billions of yuan on domestic railway expansion.
但是关键的问题还是钱，中国已经花费了数千亿的人民币在国家铁路的建设上。
The more China is able to boost demand in China, whether by increased household spending or fiscal expansion, the better off both countries will be.
无论是通过刺激家庭开支还是实施财政扩张，中国的内需提升得越多，对中美双方就越有利。
Such therapeutic slowdowns have occurred before, such as during the post-2000 economic expansion, with the result that longer-term interest rates fall and borrowing and spending rebound.
这些治疗性放慢以前也发生过，比如在2000年后的经济扩张期间，其结果是，长期利率降低，借贷和开支反弹。
Such therapeutic slowdowns have occurred before, such as during the post-2000 economic expansion, with the result that longer-term interest rates fall and borrowing and spending rebound.
这些治疗性放慢以前也发生过，比如在2000年后的经济扩张期间，其结果是，长期利率降低，借贷和开支反弹。
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