CAJ | 학술논문

中美经济增长方式的差异性是导致中美金融恐怖平衡的根源，直接反映的是全球商品与美元流动的方向性失衡。在现行国际货币体系（BwII）下，美元固有的高风险性及美国对债务型经济的高度依赖，导致其融资成本不断上升，债券融资需求持续扩大。中国促进经济转型与投资多元化的努力，导致对美元资产需求相对减少，加之美国经济增长模式调整及制造业重振，意味着美国输出美元交换中国商品的互补性格局正在逐步向竞争性格局转化，这使得继续维系中美金融恐怖平衡格局面临困境。该格局的有效化解还有赖于双方现有发展模式的成功调整，同时中国也需要促进外汇储备资产管理多元化。推动国际货币体系改革与人民币国际化进程。
중미경제증장방식적차이성시도치중미금융공포평형적근원，직접반영적시전구상품여미원류동적방향성실형。재현행국제화폐체계（BwII）하，미원고유적고풍험성급미국대채무형경제적고도의뢰，도치기융자성본불단상승，채권융자수구지속확대。중국촉진경제전형여투자다원화적노력，도치대미원자산수구상대감소，가지미국경제증장모식조정급제조업중진，의미착미국수출미원교환중국상품적호보성격국정재축보향경쟁성격국전화，저사득계속유계중미금융공포평형격국면림곤경。해격국적유효화해환유뢰우쌍방현유발전모식적성공조정，동시중국야수요촉진외회저비자산관리다원화。추동국제화폐체계개혁여인민폐국제화진정。
The balance of financial terror between China and the US results from different modes of economic de- velopment and directly reflects the imbalance in global commodity and dollar liquidity. Under the current monetary system （BWII）, the inherent high risk of US dollar and the dependence of the US on debt-based economy have led to growing financing costs and increasing demand for financing bonds in the US. The efforts of China to promote economic restruc- turing and diversified investment result in relative decrease in demand for dollar assets, which, along with the adjustment of economic growth mode and re-industrialization in the US means that the complementary pattern of commodity ex- change is being substituted by a competitive pattern and poses challenges to the maintenance of a balance of financial terror between China and the US. An effective solution depends on the successful adjustment of the existing modes of development in both countries. Meanwhile, it is urgent for China to promote the diversification of reserve assets manage- ment, the reform of the international monetary system and the intemationalization of RMB.