经常项目赤字

一些发达国家依然处于长期的经常项目赤字，美国最为显著。

Several developed countries remain in chronic current-account deficit , most notably the US .

从经济角度讲，较大经常项目赤字意味着储蓄和投资之间存在缺口。

In economic terms , a large current-account deficit means a gap between savings and investment .

朗伯德街研究公司（lombardstreetresearch）的查尔斯杜马（charlesdumas）指出，其后果之一就是美国对外资流入的需求，正随着其经常项目赤字一道缩减。

A consequence , Charles Dumas of Lombard Street research points out , is that the US requirement for foreign inflows is shrinking along with its current account deficit .

因此即便企业投资和居民住房建设投资保持在较低的水平，国民投资超过国民储蓄也导致了经常项目赤字占到GDP的2.3%。

So even with a relatively low level of business investment and residential construction , the excess of national investment over national savings resulted in a current account deficit of 2.3 per cent of GDP .

不同于中国的是，印度的经常项目赤字（current-accountdeficit）也恶化，而这恰好是经济过热的典型，它表明国内是供不应求。

Unlike China , India also has a widening current-account deficit & a classic sign of overheating , as domestic output fails to keep pace with surging demand .

根据高盛（GoldmanSachs）的计算，美元的贸易加权汇率需要下跌27%，才能把美国的经常项目赤字减少一半。

According to a calculation by Goldman Sachs , it would take a27 per cent fall in the dollar 's trade-weighted exchange rate to reduce the US current account deficit by half .

过去一年印度卢比对美元大幅下跌，部分原因在于投资者对印度高额经常项目赤字的担忧情绪日益强烈。目前印度经常项目赤字占GDP的比重约为4%。

The country 's currency , the rupee , has tumbled against the dollar in the past year , partly due to growing investor concerns about India 's high current-account deficit , which is roughly 4 % of GDP .

FDI是外部投资者衡量某国经济一个至关重要的指标。对于贫困国家、储蓄率较低的国家以及越南和印度等经常项目赤字的国家来说，FDI也是获得资本的重要来源。

FDI is a critical measure of how outsiders perceive an economy and can be a critical source of capital for poor economies , countries with low savings rates , and economies with current account deficits , such as Vietnam and India .

但形势更为严峻的或许是那些经常项目赤字位居前列的欧元区国家。

But it might get grimmer for countries with the biggest current-account deficits .

越来越多的海外投资者已经不再那么热衷于支持巨额经常项目赤字。

Foreign investors are increasingly less keen on supporting large current account deficits .

财政政策与经常项目赤字关系研究

The Study on the Relationship between Fiscal Policy and the Current Account Deficit

再来看看1999年至2007年间经常项目赤字的平均水平。

Now consider average current account deficits over 1999-2007 .

经常项目赤字是货币危机或金融危机的主要原因之一。

The current account deficit is one of the major causes of currency crisis .

它们对美国利用财政支出填补其庞大的经常项目赤字采取姑息放任的态度。

They have allowed America to finance its massive current-account deficit with apparent impunity .

能源进口增加是日本11月出现创纪录经常项目赤字的一个原因。

Higher energy imports played a role in Japan 's record current-account deficit in November .

因此，即使解决了债务问题，这些国家仍将面临巨额的经常项目赤字。

So settling the debt problem would still leave these countries with large current account deficits .

美国经常项目赤字实证分析

Current Account Deficit of America

美国之所以出现经常项目赤字，是因为美国的国民储蓄率非常低。

The US has a current account deficit because the US national savings rate is very low .

去年11月份日本经常项目赤字达到创纪录水平，这很难令人鼓舞。

It 's hard to find something encouraging to say about the record current account deficit logged for November .

在汇率和经常项目赤字问题上，会议没有做出具体决定，给这个问题留下了各种可能性。

On exchange rates and the current account deficit , the meeting opened up possibilities without achieving concrete decisions .

由于调整美国经常项目赤字需要时间，美元在今年将继续贬值。

Because it will take some time to adjust American current account , the dollar is expected to continually depreciate .

由于新德里未能降低印度对价格高昂的进口石油的依赖，印度的经常项目赤字大幅增加。

New Delhi 's failure to reduce the country 's dependence on costly oil imports has ballooned the current-account deficit .

提出该议案的理由是人民币汇率偏差导致美国出现巨额经常项目赤字、并进而威胁到美国经济的繁荣，而我要说的是，这一理由站不住脚。

Its mistaken premise is that this misalignment threatens our prosperity by causing America 's large current account deficits with China .

一个国家的全球经常项目赤字，取决于其国内投资总额超过国内存款总额的多少。

A country 's global current account deficit depends on the excess of its gross domestic investment over gross domestic savings .

接下来使得爱挥霍的国家更容易管理经常项目赤字，从而拖延全球不平衡。

That , in turn , prolonged global imbalances by making it easier for profligate countries to finance their current-account deficits .

今年外资突然反向流动，同时印度的经常项目赤字差额骤然陡增。

This year foreign capital has gone into reverse at the same time as India 's current-account deficit has widened sharply .

否则，对于需求增长的需要，可能与日益扩大的美国经常项目赤字和难以控制的全球失衡相抵触。

Otherwise the need for demand growth could collide with an ever increasing US current account deficit and unmanageable global imbalances .

一个基本的事实是，经常项目赤字等于国民投资与国民储蓄之差。

The basic fact is that the current account deficit is equal to the difference between national investment and national saving .

在实践中，这意味着美国的5000亿美元经常项目赤字和中国的3500亿美元盈余都必须降低。

In practice , that means reducing the US $ 500bn current account deficit and shrinking the $ 350bn surplus of China .

和欧元区其他身陷麻烦的国家相比，意大利的外债数额较低，即使是在经济最繁荣的那几年，它也只有适量的经常项目赤字。

Italy has fewer foreign debts than the other troubled euro-zone countries , as it ran only modest current-account deficits in the boom years .