During the 1960's real interest rates were often higher when the national savings surplus was large.
在1960年代，当国民储蓄盈余很大时，实际利率往往更高。
In my personal view, Japan has the necessary savings surplus and financial wherewithal to afford both.
在我个人看来，日本拥有足够的储蓄盈余和财政资金为两者支付。
For China, the savings surplus is a result of structural distortions in the financial, corporate and resource sectors.
就中国而言，储蓄过高是金融、企业和资源部门结构性扭曲的结果。
This picture did not seem plausible in the postwar decades but may now come into its own with the emergence of chronic Asian savings surplus es.
在战后的几十年里，这种理论看起来不合情理，但目前，随著亚洲长期储蓄盈余的出现，该理论显示出了自身的价值。
Old Europe and old Asia have more savings to absorb than the Anglosphere (except Canada). These are savings surplus regions, with low returns on capital and structural current account surpluses.
相比盎格鲁经济圈(加拿大除外)，老欧洲和老亚洲有更多的储蓄可吸收，它们都是储蓄盈余地区，资本回报率低，且有结构性经常账户盈余。
This means that the country has to import surplus savings from abroad by running a current-account deficit.
这就意味着，国家不得不通过经常帐户赤字从国外吸入过剩储蓄。
Italy and Belgium have high debt levels but more ample private savings, and their underlying budgets are closer to surplus.
意大利和比利时虽然债台高筑，但私人储蓄较为充足，并且潜在预算(译注：即充分就业预算)更接近盈余状况。
After all Italy also has a high savings rate, and it even enjoys a primary surplus, but it was not spared market contagion.
毕竟意大利也有高储蓄率，甚至它也欣现基本盈余，但意大利没能幸免股市风暴。
At the same time, us savings rates are low, while China's reserve accumulations are continuing at the same pace, and its trade surplus is rising rapidly.
与此同时，美国的储蓄率很低，而中国的累计外汇储备额仍继续同步增长，其贸易顺差也迅速扩大。
Germany, unlike other rich countries, has avoided deindustrialisation, they point out. With a rapidly ageing population, it is also right to accumulate savings by running a current-account surplus.
他们指出德国不同于其他发达国家的是已经避免了去工业化，而其迅速增加的老龄化人口使得通过国际贸易顺差来增加储备也是合理的。
When the last bubble burst in Japan, said Rogers, stock prices went down 85 percent despite the country's high savings rate and huge balance of payment surplus.
罗杰斯描述上一次泡沫破裂出现在日本，其股价下跌85%，并没有受国内高存款利率和国际收支巨大顺差的影响。
For now this decline is offset by the strong rise in corporate savings, which is why Japan continues to run a comfortable current-account surplus.
目前，日本公司存款的强势增长能够抵消这种下滑趋势，这也是日本能够持续稳当地维持经常项目盈余的原因。
Although the corporate sector has a surplus, the household savings ratio plunged from 11.3% in 1998 to 3% last year.
尽管企业部门有盈余，普通家庭的储蓄率已经从1998年的11.3%大幅跌至去年的3%。
Surplus savings meant not only low real interest rates, but a need to generate high levels of offsetting demand in capital-importing countries, of which the US was much the most important.
储蓄盈余不仅仅意味着实际利率处于低位，而且意味着需要刺激资本输入国的需求，以抵消资本流入的影响。其中，美国是最为重要的资本输入国。
As for the bilateral imbalance between the us and China, that reflects the latter's role as the assembler for east Asia, while the overall Chinese surplus reflects the country's high savings.
至于美国与中国之间的双边失衡，反映出中国作为东亚组装地的角色，而中国的整体顺差则是对其高额储蓄的反映。
First, a large current-account surplus does not necessarily prove that a currency is unfairly cheap; it may just reflect countries' different savings and investment rates.
首先，巨额经常项目盈余未必意味着一种货币的价值被不公平地低估，这种盈余可能只是反映了该国的储蓄率和投资率存在差异。
Just as responsible global citizenship requires America to address its savings deficiency, the world has every reason to expect the same from China in reducing its surplus saving.
作为负责任的全球公民，美国必须解决其储蓄不足问题；与此同时，世界各国有充分理由期待中国担负起责任、减少它过剩的储蓄。
S. savings rate has increased to about 4% of GDP (from zero at the recession's onset), and China's current account surplus has fallen from 10% of GDP to about 6.5% of GDP.
美国人的储蓄已经增长到了GDP的4%(危机爆发之时这个数据为零)，而中国的经常账户余额从占gdp的10%下降到了6.5%。
S. savings rate has increased to about 4% of GDP (from zero at the recession's onset), and China's current account surplus has fallen from 10% of GDP to about 6.5% of GDP.
美国人的储蓄已经增长到了GDP的4%(危机爆发之时这个数据为零)，而中国的经常账户余额从占gdp的10%下降到了6.5%。
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