We all knew Donald Trump believes the security burden borne by America is unfair and that other countries have been ripping it off for years on trade and defence. It has been more surprising to find the re-elected president’s close aides also saying that the pre-eminent global role played by the US dollar is not the “exorbitant privilege” it was termed by Valéry Giscard d’Estaing as France’s finance minister in the 1960s, but an exorbitant burden. Now, one of the many huge questions about Trump’s second term is whether what Kenneth Rogoff calls “the Pax Dollar era” might be coming to an end.
我們都知道，唐納德?特朗普(Donald Trump)認(rèn)為，美國(guó)承受的安全負(fù)擔(dān)是不公平的，其他國(guó)家多年來(lái)在貿(mào)易和防務(wù)上占了美國(guó)的便宜。然而，更令人意外的是，這位再次當(dāng)選的總統(tǒng)的親信也表示，美元的全球主導(dǎo)地位不再是法國(guó)前財(cái)政部長(zhǎng)瓦萊里?季斯卡?德斯坦(Valéry Giscard d’Estaing)在20世紀(jì)60年代所說(shuō)的“過(guò)度特權(quán)”，而是過(guò)度負(fù)擔(dān)。如今，人們對(duì)特朗普第二任期的眾多重大疑問(wèn)之一是，哈佛大學(xué)(Harvard)經(jīng)濟(jì)學(xué)教授、國(guó)際貨幣基金組織(IMF)前首席經(jīng)濟(jì)學(xué)家肯尼思?羅戈夫(Kenneth Rogoff)所稱(chēng)的“美元治下的和平時(shí)代”(the Pax Dollar era)是否即將終結(jié)。