Europeans and Asians saw excessively loose US fiscal and monetary policy as the major culprit. Americans, by contrast, thought that Japan and Germany were artificially holding down their currencies’ value in order to get an unfair advantage for their politically powerful export industries.
当年同今日一样，在全球贸易不平衡这个问题上存在各种不同的立场。欧洲人和亚洲人认为，美国过分宽松的财政和货币政策是罪魁祸首。美国人则反过来说日本和德国刻意压低本币汇率，牟取不公平的贸易优势，以扶持其颇具政治影响力的出口产业。