全球经济失衡态势下的东亚地区资本流动

在全球经济失衡背景下,东亚地区的资本流动呈现出与以往完全不同的特征,一方面是私人资本不断流入东亚地区且结构均衡,另一方面是大量的资本又从官方储备以购买美国国债的渠道流出东亚地区。今后东亚地区的这种资本流动将受到官方外汇储备变动、美国利率的变化、美元贬值、东亚汇率及其制度的调整等因素的影响。

Economic imbalances in the global trend of capital flows in East Asia

In the background of economic imbalances in the global trend , the East Asia region and the capital flows show completely different characteristics, on the one hand, private capital flows to East Asia and the continuing structural balance, on the other hand, large amounts of capital from official reserves to purchase U.S. treasury bonds in East Asia outflow channels. Such capital flows in the future of East Asia will be the official foreign currency reserve changes, changes in U.S. interest rates, depreciation of the dollar, and its exchange rate system in East Asia adjustment.