When nations are short of saving and want to invest and grow， they must borrow surplus saving from abroad and run current account deficits in order to attract the foreign capital.
当各国缺乏储蓄，又希望投资和增长时，他们必须从国外借入盈余储蓄，并常年保持账户赤字，从而吸引外资。
These balance-of-payments deficits — which the US has experienced in every year since 1982 (with the exception of 1991， when the US ran a small surplus by charging other nations for its military campaign to wage the Gulf War) — are a recipe for trade deficits.
自1982年以来美国每年都经历过国际收支赤字（1991年除外，当时美国向其他国家收取发动海湾战争的军事行动的少量盈余），这些国际收支逆差是造成贸易逆差的主要原因。
But since the trade deficits stem from macro saving-investment imbalances， they tend to be broad based， or multi-lateral， in scope. Indeed， in 2018， the United States had merchandise trade deficits with 102 countries.
不过，由于贸易逆差源于宏观储蓄-投资失衡，它们的范围往往是广泛的，或者说是多边的。事实上，2018年美国对102个国家的商品贸易出现逆差。
