Because the current-account balance is the difference between the investment and savings rates, the decline in investment will generate large surpluses unless savings also decline. And the experience of other aging societies, such as Germany and Japan, suggests that domestic investment falls faster than savings rates.
经常项目余额无非是投资和储蓄率之差，因此投资下降将形成大量盈余，除非储蓄也跟着下降。而从德国和日本等其他老龄化社会的经验看，国内投资会比储蓄率以更快的速度下降。