A China-centric solution is like “whack-a-mole.”
以中国为核心的解决方案就像“打鼹鼠”游戏。
因为根本问题并未得到解决:
Eliminating one piece of the trade deficit without fixing the saving problem — a very real possibility in light of a further depression of domestic saving following from the ill-timed Trump tax cuts of late 2017 — simply means that trade will be diverted from China to other foreign producers.
由于2017年末特朗普减税的时机不合时宜,直接的可能性是国内储蓄进一步低迷。在不解决储蓄问题的情况下,消除一部分贸易逆差,只意味着贸易将从中国转移到其他外国生产商手中。
Inasmuch as China is one of America's lowest cost foreign suppliers, that means the trade diversion will invariably go to higher cost foreign producers — the functional equivalent of a tax hike on American consumers.
由于中国是美国成本最低的外国供应商之一,这意味着贸易转移必然会流向成本较高的外国生产商。这就相当于在美国消费者头上增税。