While the future evolution of these imbalances remains unclear, the result could eventually be a sharp rise in long-term interest rates and a substantial fall in the dollar’s value, driven mainly by foreign investors’ reluctance to continue expanding their holdings of US debt. American investors, fearing an unwinding of the fiscal and monetary positions, might contribute to these changes by seeking to shift their portfolios to assets of other countries.
尽管这些失衡的未来走势尚不明朗，但结果最终或是长期利率飙升和美元价值暴跌，其主要原因在于外国投资者不再愿意继续扩大美国债务持有量。由于担心财政和货币立场的放松，美国投资者可能会寻求将资产配置到别的国家，从而加速这一变局。