Debate touches on economic pain point

THE PUBLIC DEBATE between two senior researchers, one with the People's Bank of China and the other with the Ministry of Finance, has laid bare how delicate the balance is between money supply and tax reduction. Beijing News comments:

This is actually an academic debate, which has caused a strong social repercussion because the current economy is facing the impact of external uncertainty. When such uncertainty and the domestic financial deleverage "meet", it is a matter of course to reflect on past monetary and fiscal policies.

The argument itself is not important. What is important is that the current debate has touched on the economic pain point.