The Upsides of Prolonged Low Interest Rates

Low interest rates encourage people to focus on long-term projects.

When projects can't generate lifetime earnings in the short term, company shareholders won't be in a rush to cash out and leave retail investors holding the bag, allowing China's venture capital market to truly begin taking shape.

Low interest rates would also encourage more young people to pursue long-term careers like medicine. Being a doctor is a long-term career: early on it's tough with meager income, but once you reach middle age, earnings rise steadily and stay high through old age, offering a much longer career span than other professions where nobody wants you past age 30.

The upfront cost of studying medicine is already high enough.