Iam often asked whether the ongoing decline of the dollar implies that it can no longer serve as a reserve currency. My short answer is that most countries no longer hold dollars and other currencies as traditional reserves. The role of foreign exchange balances has changed from being short-term funds used to bridge export-import gaps to being long-term investment funds. In this new world, the dollar has shifted from being almost the sole “reserve currency” of many countries to being the primary “investment currency”, a role that it will continue to play far into the future.
经常有人问我，眼下美元的下行，是否意味着它不再能够充当储备货币。我给出的简短回答是：大多数国家已不再将美元和其它货币作为传统储备货币持有。外汇余额的角色已经从填补贸易差额的短期资金，转变为长期的投资资金。在这个新世界里，美元已经从许多国家近乎唯一的“储备货币”，变成了首要的“投资货币”——未来很长时间内，它都将继续扮演这一角色。
您已阅读11%（746字），剩余89%（5927字）包含更多重要信息，订阅以继续探索完整内容，并享受更多专属服务。