顺差

Based on China' s stylized facts behind foreign trade and a brief review of trade theories in new classicalism, Keynesianism, monetarism and intertemporal approach of current account , a theoretical model is built.

在新古典主义、凯恩斯主义、货币主义和八十年代以后的新古典宏观经济学的带动下，理论界对贸易余额的研究方向也不断发展和完善，尽管这样，仅仅靠这些理论还不足以解释类似中国所经历的贸易顺差问题。

For the main counterpart to today outsized US external current account deficit is a corresponding record Asian current account surplus.

因为与美国目前过大的经常账户逆差相对应的，是亚洲有史以来最高的经常账户顺差。

Second, Japan's huge trade surplus is increasingly credited to China.

第二，日本的巨大的贸易顺差日益归功于中国。

In 2009 our exports dropped by 16%, but our import only decant by 11%. And China's trade supply decant by

在这个期间，我们的2009年外贸出口降低了16%，但是进口只降低了11%，顺差减少了1020亿美元。

The traditional response is that the current account is the main causal factor , with capital and financial accounts simply reflecting financing of a deficit or investment of funds arising as a result of a surplus .

传统的解释是经常账户是主要原因因素，而资本和金融账户只是单纯地反映出对逆差的融资或者对顺差产生的资本的投资。

The traditional response is that the current account is the main causal factor, with capital and financial accounts simply reflecting financing of a deficit or investment of funds arising as a result of a surplus.

传统的解释是，经常帐户是主因，而资本和金融帐户只是单纯地反映出由于经常帐户逆差所需的融资或是由顺差而产生的可投资的资本。

Unfortunately, that may well prove temporary: first, your stimulus programme, with its reliance on massive credit expansion, may prove unsustainable; second, the decline in China's trade surplus is largely the result of the crisis-induced collapse in world trade; and, third and most important, China has embarked on currency deprecation by locking the renminbi to the falling dollar.

不幸的是，这种缩减很可能只是暂时的：首先，贵国的刺激方案依赖于大规模信贷扩张，可能难以维续；其次，中国贸易顺差的减少，主要是金融危机导致的世界贸易萎缩的结果；最后一点，也是最重要的一点，由于钉住了不断贬值的美元，人民币也在贬值。

Experience with the repeated appreciation of the Deutsche Mark after 1945 anyway shows that exchange rate rises do not work through very smoothly or quickly in correcting trade imbalances and can – by cheapening imports – even have the initial effect of boosting the trade surplus of the country that appreciates its currency.

所有这些都比旨在纠正中美贸易失衡的政策重要得多。1945年后德国马克反复升值的经验已经表明，汇率上升不会非常平稳或迅速地纠正贸易失衡，甚至会因让进口商品变得更便宜，而在初期推高货币升值国的贸易顺差。

China's trade surplus and foreign direct investment explain only 30% of this.

中国的贸易顺差以及外商直接投资只能解释其中的30%。

That surplus along with a dollop of foreign direct investment gave China a net inflow of foreign exchange of well over $100 billion in the first quarter.

这一顺差与外商的直接投资使中国的外汇储备的入超净额在第一季度超过了1000亿美元。

If you are unfortunate enough to the lovelorn, please tell me, I will help you out, really, please contact me!

如果你不幸失恋了，请告诉我，我会帮助你摆脱困境，真的，请联系我啦！

China's plan to cut energy intensity by 20 percent and pollutant discharges by 10 percent between 2006 and 2010 is a case in point.

中国计划在2006年到2010间降低20%的能源强度和减少10%的主要污染物排放，就是一个这样的例子。