美国债务经济的可持续性研究-世界经济学专业毕业论文.docxVIP

PAGE PAGE 10 A Research on the Sustainability of US Debt Economy Abstract The United States is the engine that runs the world’s ecomomy which to some extent determines the development of the world’s economy, so its economic running model with consistent borrowing from others has long drawn the attention of the world. Especially when the subprime crisis severely disrupted the world’s economy, the “US debt economy” has unevitablely put the people of the world on the alert.The “US debt economy” was first mentioned by Greenspan, the president of the Fed, in 2004, so it’s a new concept to us with no unified difinition in the academic circles. This paper holds that US debt economy is an unique economic developing model existing in the US which highly rely on foreign resources and is based on the dollar exchange standard system. Specifically, US debt economy is, on the one hand, with the promotion of the US industry, the US imported large amount of goods which leading to huge trade deficit accompanied with dollars outflow, and on the other hand, with the increasing demand of other countries to US assets, the US exports financial assets to the rest of world and receiving dollars, so the economic cycle was formed. When disadvantage of US debt economic running model come into our eyes, some doubts arise in our minds. What does US debt economy look like? What are forces underpinning such a giant debt economy? What negative effects the US debt economy will cause? Will the US debt economy sustain forever? If not, how long will the US debt economy sustain? As the second large economy, what shall China do? All these questions has been answered in this paper except the negative effects of the US debt economy as it is obvious. To begin, this paper divided the formation of US debt economy into two periods, and demonstrated the basic contents of US debt economy under both demestic and international perspective. Then, three main forces underpinning the US debt economy were describe