The first answer, of course, is that the trade-weighted dollar has fallen – by more than 15% in real terms since its peak in early 2002. Yet the US deficits have persisted, and even risen, since then.
当然，第一个答案就是贸易加权的美元已经贬值—自其高峰的2002年初以来已实际贬值15%。然而，美国的赤字仍然居高不下，甚至自那时起还有所上升。