8 B7 M# U, f0 c/ G/ d英国《每日电讯报》星期四（8月11日）刊登该报经济事务编辑阿尔德里克的文章，引述了英国中央银行英格兰银行行长默文·金就目前英国和世界经济形势发表的谈话。 9 o1 I B. r2 A! W3 {+ y, x: N# h: e, z
这篇题为“中国和德国掌握着世界的命运”的文章说，默文·金认为，英国的经济增长目前掌握在债权国家的手中。" J1 e- o0 }8 }7 {: R. [3 y% d
8 g/ K& F! X5 X6 ^4 @/ B& F文章引述默文·金星期三发表的谈话内容说，问题的关键是“全球贸易不平衡”。中国和德国出口了太多的产品，制造了廉价借贷的泡沫，扭曲了人们的行为。 9 m% H1 t/ u2 H! ? 7 E9 Y, ^8 `1 y% Z, V1 f与此同时，美国和英国等国家消费过度，大量借债，以满足自己的消费习惯。! Z7 ]$ k k1 S5 g5 N: f* C
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道德制高点" L5 e" {- N' `* S$ v U& Q2 _5 H P
9 o1 ]4 R; O3 K / A! [- p( |2 Q; C5 o1 A英国中央银行英格兰银行行长默文·金$ L6 c* o& [- t
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The fate of the world is now in the hands of Chinese and German policymakers - n% J- B W, q& H7 nUK growth is now in China's hands* K' }( Z& y0 z8 N
' ?1 R8 U7 l, GIf there was one message to take away from the Bank of England's dramatic Inflation Report yesterday, bar rates being on hold for another two years and growth being weaker than hoped, it was that the global economy is back on the precipice – and it is the world's creditor nations that are holding the rescue lines. , L$ G A! `8 T0 {: A M F" J# |/ t* X$ r) {& O: q. O
There is only one way for the world to go, said the Bank's Governor Sir Mervyn King: for the pent-up losses caused by the vast debts amassed in the boom to be "shared between creditors and debtors". This, he said, meant "in the world economy between creditors in the East and debtors in the West, and within the euro-area between creditors in the North and debtors in the South". 4 ]7 m! h0 t k' c0 \0 A/ k' S - x- `6 P) ^0 I1 B4 h5 KThe problem is that there are two ways the problem can be resolved. Either voluntarily, as surplus countries like China let their currencies appreciate, or violently, "in the context of a downturn in the world economy".2 k' G% e/ t, ^/ {. l4 ^
( H5 j+ C2 y; BGiven the lack of political leadership currently, an ugly denouement looks all too likely.% R" ]/ J$ k; p8 G$ G6 { U7 V. ~* X
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The issue is, and has always been, "global imbalances". China and Germany export too much and plough their returns back into the financial system, creating bubbles of cheap credit and distortions in behaviour.
