When the United States Federal Reserve embarked on QE, it was accused of exporting its problems, because aggressive monetary easing inevitably weakens the currency.&nbsp;The same charge is now being leveled against the ECB.&nbsp;But this is misleading. Ultimately, the US recovery helped its trade partners more than it hurt them.
美联储采取量化宽松时，有人指责它在输出问题，因为激进的货币宽松难免会令货币贬值。如今，同样的指责对准了欧洲央行。但这是错误的。最终，美国的复苏给其贸易伙伴带来的好处超过了弊端。在全球货币互相依存的当今世界，游戏规则是每一个货币联盟都必须追求其自身的物价稳定。欧洲央行也不例外。