With rebalancing will come a decline in China’s surplus saving, much slower accumulation of foreign-exchange reserves, and a concomitant reduction in its seemingly voracious demand for dollar-denominated assets. Curtailing purchases of US Treasuries is a perfectly logical outgrowth of this process.
再平衡会导致中国的盈余储蓄减少，外汇储备的增加也会大幅放缓，同时也减少其对美元资产似乎如饥似渴的需求。减少对美国国债的购买也是这一进程的完美逻辑结果。在长期依赖中国解决自身财政问题之后，美国或许要支付一个更高昂的价格去保证外部资本的供应。