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全球失衡问题重回议程

政策制定者必须克服“永远保持顺差方能致富”的重商主义谬论。

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    • 如今许多经济学家的看法是，如果危机将要来临，那么它很可能会在美国引爆。
    • 如今许多经济学家的看法是，如果危机将要来临，那么它很可能会在美国引爆。 图片来源：BLOOMBERG

    Martin Wolf

    Published Wed, May 6, 2026 · 06:00 PM

    本文由AI辅助翻译

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    “又来了？我们不是才刚讨论过这个问题吗？”这是经济政策研究中心（Centre for Economic Policy Research）发表的一本名为《新的全球失衡》的论文集，其开篇章节的开头。

    是的，我们讨论过。我们在1980年代、2000年代都讨论过，而现在，在2020年代，这个问题又一次出现了。

    这个问题似乎大约每20年就会凸显出来。这背后有两个重要原因。其一，经常账户失衡会助长贸易保护主义情绪。其二，它是金融危机的预兆。

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