Countries now seem to think that monetary-policy measures are their only option. But, whereas fiscal stimulus boosts growth at home and abroad, enabling mutual reinforcement through world trade, monetary policy is guided primarily by domestic goals, and, in the short term, one country’s gain can be another’s loss.
各国如今似乎都认为货币政策措施是它们唯一的选择。但在财政刺激促进国内外经济增长，通过世界贸易相互增强各国国力的时候，货币政策却主要受国内目标引导，在短期内一个国家的收益会是另一个国家的损失。