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经济前景股票市场的崩溃给世界带来的重大影响将会是通货紧缩。美国股市繁荣时期私人储蓄减少了,而一旦陷入萧条,人们将重新开始储蓄,这是紧缩的一个显著效果。过去两、三年里,削减美国的预算赤字是绝对必需的。但如果现在这样做,那就是对已经紧缩了的通货又进行紧缩。你们(指美国)要想减少双重的(外贸和财政)赤字而又不引起全球性经济崩溃的话,唯一可行的办法就是在美国每减少一美元的支出必须由国外至少增加一美元的开支来对应。如果美国把赤字削减了600或700亿美元,那么日本和联邦德国就必须至
Economic Prospects The significant impact the collapse of the stock market has on the world will be deflation. Private savings in the boom of the United States stock market have decreased, and once the recession is over, people will resume saving. This is a tightening effect. In the past two or three years, it is absolutely necessary to reduce the U.S. budget deficit. But if it is done now, it will tighten the already tight currency again. If you (the United States) want to reduce the double (foreign trade and fiscal) deficits without causing a global economic collapse, the only feasible solution is that for every dollar of reduction in spending in the United States, you have to make at least an additional dollar of foreign spending . If the United States cuts the deficit by 60 or 70 billion U.S. dollars, Japan and the Federal Republic of Germany will have to