The US trade deficit is a multilateral imbalance with many countries – 102 in all – not a bilateral problem with China. It arises not from the alleged manipulation of the renminbi, but from the simple fact that America does not save.
这是错的，只能作为政治托辞。美国贸易赤字是对多个国家（102个）的多边失衡，而不是对中国的双边问题。这一问题并非来自遭遇口诛笔伐的人民币操纵，而是来自美国人不储蓄这一简单的事实。