在关注全球失衡时,不能仅从外部均衡角度分析,应更多审视内部原因。一段时间以来一些人对中国的看法是,包括出口补贴和低估汇率在内的,中国实施的扭曲性政策是全球失衡的根源,后者进而是本次全球金融危机的起因以及世界经济迟迟不能复苏的障碍。全球失衡是指在世界范围内,各国普遍出现的经常账户不平衡,其中经常账户主要包括货物贸易、服务贸易、收益支付以及援助这样的单方面转移等。全球失衡的规模自20世纪70年代以来迅速并且持续地扩大。尽管在历史上,大规模的全球失衡也曾数次出现,但没有一 When focusing on global imbalances, we can not analyze it from an external equilibrium perspective and examine more internal reasons. Some people have viewed China for some time now that distorted policies implemented by China, including export subsidies and undervalued exchange rates, are the root cause of global imbalances, which in turn are the cause of the global financial crisis and the delay in the world economy Barriers to recovery. Global imbalances refer to the prevailing current account imbalance in various countries around the world. Among them, the current account mainly includes the unilateral transfer of goods trade, service trade, payment of benefits, and aid. The scale of global imbalances has expanded rapidly and continuously since the 1970s. Although there have been several large-scale global imbalances in history, none have been reported