In the last 60 years, the US has underpinned global growth by running persistent current-account deficits. Under the Bretton Woods system, the US ran deficits that enabled war-torn Europe and Japan to rebuild.
过去60年来，美国用持续的经常项目赤字支撑着全球增长。在布雷顿森林体系中，美国的赤字让饱受战争创伤的欧洲和日本得以重建。反过来，欧洲为美国的赤字提供了资金。