美国贸易逆差的魔幻现实主义：当全世界都在为美元打工

Group 1 - The article discusses the transformation of the U.S. dollar from a gold-backed currency to a fiat currency, emphasizing its dual role as both the national currency and a global reserve currency [1][3] - The U.S. trade deficit has dramatically increased from $6 billion in 1975 to nearly $1 trillion in 2022, challenging traditional economic theories that view trade deficits as a sign of economic decline [1][5] - The article highlights the irony of the U.S. imposing tariffs on Chinese goods, which ultimately burdened American consumers and businesses, leading to an increase in the trade deficit during Trump's administration [1][5] Group 2 - The U.S. has a low personal savings rate of 3.8% as of Q3 2023, compared to China's 45%, reflecting a different economic structure that encourages consumption over saving [5] - The U.S. net international investment position reached -$18.3 trillion, indicating that each American citizen owes approximately $55,000 to the rest of the world, yet creditors continue to lend due to the U.S.'s significant consumer market [5][7] - The article points out that U.S. multinational companies contribute significantly to the trade surplus with China, with 40% of the surplus attributed to American firms operating in China [7] Group 3 - The article discusses the "super privilege" of the U.S. dollar, allowing the U.S. to purchase global goods through money printing, which effectively imposes an "inflation tax" on other countries holding dollar reserves [7][9] - The rise of digital currencies is seen as a potential threat to the dollar's dominance, with China's cross-border RMB payments reaching 48% in 2023, indicating a shift in global trade dynamics [9] - The U.S. trade deficit is portrayed as a byproduct of the current international monetary system, reflecting both U.S. economic power and the inherent contradictions of globalization [9]