John Overmyer

论资本账户再管制

纽约——

当今的“货币战争”争论反映了全球经济的两大矛盾之处。一是缺少将世界贸易规则与汇率变动联系起来的机制。各国花费多年协商贸易规则、历经艰辛方才取得的成绩,只消区区几日的汇率变动便可付诸东流。此外,汇率变动本质上由资金流决定,对纠正全球贸易失衡问题可能毫无用处。

二是一国的货币扩张可能非但在国内毫无用处,反而对外国造成重大负面影响。尤其是美国正在实施的量化宽松政策,因为美元是世界主要储备货币。

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