国际收支危机、次贷危机、国际金融危机和欧债危机其本质上都是债务危机,而债务危机的背景则是全球经济失衡。正是由于世界经济的持续失衡,导致一些国家公共债务余额高企,使得各式危机频发。因此,美国、欧元区国家及中国等应积极调整各自的内部失衡,以防止危机再次发生和避免对自己造成的负面冲击。 The balance of payments crisis, the subprime mortgage crisis, the international financial crisis and the debt crisis are essentially debt crises. The background of the debt crisis is the global economic imbalance. It is precisely because of the continuous imbalance of the world economy that the high public debt balances in some countries have led to various types of crises. Therefore, the United States, the euro area countries and China should actively adjust their internal imbalances so as to prevent the crisis from happening again and avoiding the negative impact on themselves.