美国经济会重蹈日本的覆辙吗?

Will the American Economy Meet the Same Fate as the Japanese Economy?

尽管IT(信息技术 )泡沫破灭成为近年来美国经济增长减速的重要原因 ,但IT革命和美国“新经济”却是客观存在的事实。经济增长减速形势下劳动生产率仍保持增长给美国“新经济论”提供了新的依据。 2 0世纪 90年代以来 ,美日经济表现呈现鲜明反差的基本原因在于前者形成了“新经济”而后者没有形成“新经济”。以IT泡沫为主要特征的美国泡沫经济与以房地产泡沫为主要特征的日本泡沫经济有着本质不同。当前美国经济不会重蹈 2 0世纪 90年代日本泡沫经济破灭的覆辙。

Even though the IT bubble is the major cause for the slowdown in the American economy in recent years,the IT revolution and the American'New Economy'are continuing.The growing productivity at the time of an economic slowdown is basic evidence for the existence of the American'New Economy.'The sharp contrast in the performance of the American and Japanese economies from the 1990s up to the present helps to explain the effects of the'New Economy,'since it occurred in America but not in Japan.The nature of the U.S.and Japanese bubble economies is different.As of the present,the American economy will not meet the fate of the Japanese economy in the 1990s.