The Dr. Pangloss school dismissed them as benign – a mere reflection of emerging economies’ demand for dollar reserves, which only the US could provide, and American consumers’ insatiable appetite for cheap merchandise imports. Trading safe assets for cheap merchandise was the best of all worlds.
2004年，关于全球失衡存在两大思维派别。乐观派认为失衡无关紧要——无非反映了新兴经济体需要美国才能提供的美元储备，而美国消费者对廉价进口商品也有着无穷尽的胃口。用安全资产换取廉价商品对全世界都有利。这是一个可以永远持续下去的愉快的均衡。