The International Cycle of American Debt Economy
作者:段彦飞
来源:
时间:2015-07-02
With the constant expansion of American currentaccount deficit, American foreign debt is piling up, forming huge dollar assets beyond its border, which constitutes an international cycle of American debt economy. Americas debt economy is rooted in the dollarbased international monetary system. The dollars status and the free flow of American financial assets form the two pillars in the international cycle. The continuous expansion of American debt economy speeds up the world circulation of American dollar, which in the end leads to the crisis in the international monetary system and the serious turmoil in the global financial system. Great changes in the system are pending because it must adjust to the global economic structure that has undergone great changes.