Creditor countries are worrying about the safety of their money. That is what links two of the big economic stories of last week: Chancellor Angela Merkel's attack on the monetary policies pursued by central banks, including her own, the European Central Bank; and the pressure on Tim Geithner, US Treasury secretary, to persuade his hosts in Beijing that their claims on his government are safe. But are they? The answer is: only if the creditor countries facilitate adjustment in the global balance of payments. Debtor countries will either export their way out of this crisis or be driven towards some sort of default. Creditors have to choose which.
债权国正担心自己的资金安全。正是这一点，将上周的两大manbetx20客户端下载 新闻联系在了一起：德国总理安格拉•默克尔(Angela Merkel)对各大央行——包括自己所属的欧洲央行(ECB)——推行的货币政策进行抨击；而首次访华的美国财长蒂姆•盖特纳(Tim Geithner)则面临这种压力：试图让东道主相信，manbetx3.0 所持的美国国债是安全的。但果真如此吗？答案是：债权国只有促成对manbetx app苹果 国际收支平衡的调整，才能保证债权的安全。债务国要么将通过出口摆脱此次危机，要么被迫采取某种形式的违约。债权国必须从中做出选择。