China’s current-account surplus peaked in 2008 at more than 10% of GDP and has since narrowed dramatically, to 1.9% last year. China’s trade adjustment in some respects followed that of Japan, the original focus of American trade anxieties in the 1980s.
对称的调整发生在中国——通过人民币实际升值和劳动力及土地价格升高实现。中国经常项目盈余在2008年达到峰值，占 GDP比例超过了10%，此后大幅下降，去年只占GDP的1.9%。从某些角度，中国的贸易调整是在步日本后尘。20世纪80年代，日本是美国贸易焦虑的最初焦点。