Nor did he provide a satisfactory reply to critics who argued that the real promise of emerging markets lay in the middle of the pyramid.

对于那些认为新兴市场处于金字塔中部的批评者，他更没有给出令人满意的答复。

youdao

To this, the most resolute pessimists reply that neither a cheap yen nor anything else will spur the Japanese economy.

ECONOMIST: As Japan goes?