There was a brief period in the 1970’s when a similar transfer took place. But, unlike then, the countries that are accumulating the capital today are not spending it on consumption – remember the endless pictures of Saudi princes buying up real estate on the French Riviera – but on investment, infrastructure, and education.
20世纪70年代曾经有过发生类似转移的短暂时期。但和当时不同的是，今天那些积聚资本的国家并没有把这些钱投入消费领域——还记得沙特王子在法国里维埃拉没完没了购买不动产的画面——而今天这些钱却流入了投资、基本建设和教育等领域。