Banknotes of US Dollar and RMB Zhang Peng/LightRocket via Getty Images

如何避免中美贸易战

特朗普政府宣布美国将因窃取知识产权对中国进行制裁,这是两国贸易纠纷的最新写照。此前,特朗普在3月8日承诺要对中国钢铝征收更高的关税——有人预测这一做法将给全球贸易体系带来可怕的后果

这些做法引发出骇人听闻的新闻标题——也令投资者惊慌失措——但其实美国国会最近通过的税改法案才是加剧中美之间贸易紧张的更重要的因素。除非充分认识到税收法案的影响,否则双边贸易关系将会在“稀里糊涂”中大大恶化。

新税收立法将让美国在未来十年新增1—2万亿美元的政府赤字,这一国民储蓄缺口不会通过私人部门储蓄的增加或投资的减少被抵消掉。

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