The writer is a finance professor at Peking University and a senior associate at the Carnegie China CenterWhile much of the debate about limiting US government debt assumes that rising debt is a consequence of profligacy on the part of Washington policymakers, the problem is in fact structural. Americans are forced to choose between rising debt and higher unemployment largely because of the level of income inequality in their country — exacerbated by the large US trade deficit — that has sharply reduced the consumer demand for American businesses and manufacturers.
本文作者是北京大学(Peking University)金融学教授、卡内基manbetx3.0 中心(Carnegie China Center)资深研究员
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