Over the past several years, much attention has focused on the role of China’s trade surplus in creating today’s global financial imbalances. But too little attention has been paid to the role of Japan’s policy of near-zero interest rates in contributing to these imbalances.
在过去几年里，许多人关注的是中国的贸易顺差怎样导致了今天全球金融的不平衡。但是很少有人去关注日本近乎为零的利率对金融不平衡的影响。在全球金融的不确定性越来越大的时候，现在是日本改弦更张的时候了。