But, what is the truth? Have foreigners really stepped away from US assets and if so, how is the US to finance its huge current account deficit?

然而，事实是这样吗？外国投资者真的已经远离美国资产了吗？如果真是这样，美国如何为其巨额经常账户赤字融资呢？

The speech, titled “The Global Saving Glut and the U.S. Current Account Deficit, ” offered a novel explanation for the rapid rise of the U.S. trade deficit in the early 21st century.

这次题为“全球储蓄过剩和美国经常项目赤字”的讲话，为21实际早期美国贸易赤字的迅速激增提供了一种全新的解释。

With investment down and saving up, the current account deficit will narrow.

随着投资减少和储蓄增加，经常账户赤字将开始收窄。

The dollar exchange rate is important because the US relies on hefty foreign purchases of securities and other assets to fund its current account deficit.

美元汇率相当重要，因为美国依靠于外国大量购买美国证券和其它资产，为美国经常账户赤字提供融资。