论文部分内容阅读
中美贸易差额由全球要素共同创造,而产生的金融成本却由中国单独承担,金融净收益外流造成我国贸易利益的耗散。文章以中国统计的中美贸易差额为基础,通过拆解并核算1993~2013年中国承担的金融成本与获得的金融收益,结果显示,机会成本是金融成本的主要组成部分,冲销成本和扭曲成本也有重要影响;金融收益主要来源于投资资本收益、本金增值收益和财政金融收益;中美贸易差额共给中国带来8941.05亿美元金融净收益流出,占贸易差额存量的47.39%。因此,中美贸易利益分配要考虑贸易差额带来金融净收益,不能简单以贸易差额和归属为依据,要改变我国对外汇储备的特殊偏好,降低中美贸易差额的金融成本并提高其收益,增强对美贸易的利益获取能力。
The trade balance between China and the United States is created jointly by global factors, while the financial costs incurred are borne solely by China. The outflow of financial net proceeds has caused the dissipation of China’s trade interests. Based on China’s statistical trade gap between China and the United States, the article disassembles and calculates the financial costs borne by China from 1993 to 2013 and the financial returns obtained. The results show that the opportunity cost is a major component of financial costs, offsetting costs and distorting costs But also has important influence. The financial income mainly comes from the return of investment capital, capital appreciation income and financial revenue. The trade gap between China and the United States brought to China a total of 894,105,000,000 US dollars of financial net income, accounting for 47.39% of the balance of trade. Therefore, the distribution of trade interests between China and the United States needs to take into account the net financial gain brought by the trade balance. China can not simply rely on trade balances and attributions. It is necessary to change China’s special preference for foreign exchange reserves, reduce the financial costs of trade balances between China and the United States, To enhance the ability to gain trade with the United States.