CAJ | 학술논문

金融危机予美国经济以重创，美国迫切需要在全球转嫁其损失，以实现其所谓的全球经济再平衡。文章探讨了美国如何借助美元这一霸权货币，通过美元的国际循环在全球进行债务扩散，以及由此造成全球经济结构失衡的内在机理。研究发现，当前国际分工格局的错位导致了美国巨大的贸易逆差，美国的高赤字率和低储蓄率是造成经济失衡的根源；美国通过美元输出及美元回流在全球进行债务扩散及债务转嫁；经济结构的严重失衡及美联储量化宽松的货币政策导致超发货币，这必然加速美元危机的到来。后危机时代经济失衡的治理必须加强中国等新兴国家的作用。
금융위궤여미국경제이중창，미국박절수요재전구전가기손실，이실현기소위적전구경제재평형。문장탐토료미국여하차조미원저일패권화폐，통과미원적국제순배재전구진행채무확산，이급유차조성전구경제결구실형적내재궤리。연구발현，당전국제분공격국적착위도치료미국거대적무역역차，미국적고적자솔화저저축솔시조성경제실형적근원；미국통과미원수출급미원회류재전구진행채무확산급채무전가；경제결구적엄중실형급미련저양화관송적화폐정책도치초발화폐，저필연가속미원위궤적도래。후위궤시대경제실형적치리필수가강중국등신흥국가적작용。
The financial crisis brings heavy losses to the economy of the United States. This paper discusses the inner mechanism of the United States to overdraw the whole world by spreading its debts with the help of hegemony monetary, thus causing the unbalance of global economic structure. The results show that： the dislocation of international division leads to the giant trade deficit and financial deficit, and the United States spreads its debts in the global area by outputting and recycling U.S. dollars; emerging economies gradually enhance their requirement for international discursive power and currency discursive power as well as for the reform of international monetary system; because of the unbalance of international economic development, U.S. dollar crisis is inevitable, and the governance in the post-crisis era must strengthen the role of emerging economies like China.