The global imbalances, dominantly featured by the large external deficit of the United States, are inextricably linked to a global business investment anemia, rather than a global saving glut.

• 以美国的巨额对外收支赤字为主要特征，世界贸易不平衡不是由于世界储蓄过度；相反，世界范围内商业投资的贫乏与此难逃干系。