上周美国商务部报告称，6月份的贸易逆差接近500亿美元，这引发了新一轮的经济末日预言。
When the Commerce Department reported last week that the trade deficit in June approached $50 billion, it set off a new round of economic doomsaying.
贸易逆差不增反减使得大多数分析家大吃一惊。
The trade gap surprised most analysts by shrinking, rather than growing.
目前，美国对华贸易逆差数额庞大。
The United States is currently running a large bilateral trade deficit with China.
进口额创历史新高，出现小幅季度逆差。
Imports volume hit a record high, giving rise to a slight deficit in this quarter.
傅莹认为，外界在了解中国方面存在逆差。
Fu Ying believed that there was a deficit in understanding China.
他们也保证努力减少贸易逆差。
They also vowed to increase efforts to reduce trade imbalances.
逆差的真正原因是美国人消费太多而储蓄太少。
The real cause of the deficit is that Americans spend too much and save too little.
这是自1998年以来可比数据中逆差最大的一次。
This is the largest such deficit since comparable records began in 1998.
完美结局：逆差国家的居民工作更努力而且更多产。
A happy ending: the residents of the deficit country could work harder and more productively.
然而，使贸易逆差获得实质性的削弱将会困难重重。
Yet making a substantial dent in the deficit will be difficult.
美国仍然是消费多于生产，留下了长期性的贸易逆差。
The US still consumes more than it produces, running a chronic trade deficit.
二月和三月的数据是有效的，贸易逆差缩减小于预期。
In February, the latest month for which data are available, the trade deficit shrank less than expected.
多年来，美国经常账户逆差之规模让投资者看跌美元。
For years, the size of the American current-account deficit was seen as bearish for the buck.
英国与欧盟之间的贸易逆差甚至可以转移人们的注意力。
其二，是指使全球需求从对外逆差国转移到对外顺差国。
The second rebalancing involves a global demand switch from external deficit to external surplus counties.
但是，假如人民币升值，贸易逆差的纠纷能否得到解决呢？
But will disputes over the trade deficit be solved if the yuan is appreciated?
最大的谬论是，人民币升值将极大的减少美国的贸易逆差。
The biggest myth of all is that a revaluation of the yuan would greatly reduce America's trade deficit.
排除掉这些因素之后，美国对中国的贸易逆差将缩水一大半。
Knock out these and America's bilateral deficit with China shrinks by more than half.
如果中国出现贸易逆差，这也将明显推动人民币在海外的流通。
If China were to run trade deficits, that would also significantly boost the overseas circulation of Chinese currency.
部分原因是因为资本流入主要用于填平其持续的经常项目逆差。
Part of the reason is that capital inflows have gone mainly to finance its persistent current-account deficit.
美国还需要人民币升值以减少贸易逆差、缓解累积的债务负担。
The US also needs the renminbi to rise in order to reduce the trade deficit and alleviate the burden of accumulated debt.
美国对华贸易逆差占美国对全球贸易逆差的大约一半。
The US deficit with China accounts for about half of its shortfall with the rest of the world.
这些年来，美国花的比赚的还多，而且越来越多，逆差持续攀升。
For years it has spent more than it earns, running up large, persistent current-account deficits.
美国要想减少经常账户逆差，仅有一种选择——少消费，多储蓄。
If America wants to reduce its current account deficit, it has but one option-consume less and save more.
同时，美元的贬值将会缩小美国的贸易逆差，减少美元的年度供应。
At the same time, the dollar's reduced value will shrink the US trade deficit, reducing the annual supply of dollars.
同时，美元的贬值将会缩小美国的贸易逆差，减少美元的年度供应。
At the same time, the dollar's reduced value will shrink the US trade deficit, reducing the annual supply of dollars.
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