日美贸易摩擦的历史经验和教训

The Historical Experience and Lessons of the Friction between Japan and the United States

在当前中美贸易摩擦持续发酵的大背景下,20世纪日美贸易摩擦提供的镜鉴和启示是,汇率调整并非缓解贸易摩擦的有效手段,应对贸易摩擦的经济冲击需保持政策定力,加快推进产业升级和自主创新,谨防资产泡沫和产业空心化,高度关注人口老龄化带来的长期影响。

Under the background of the ongoing escalation of Sino-US trade conflict,we should learn from the experience and lessons of the Japan-US trade conflict in the last century.What we found is that exchange rate adjustment wasn’t the effective measure to ease trade conflict,and a country’s macroeconomic policy decisions should be based more on domestic realities than external pressures.Especially,we should accelerate industrial upgrading and independent innovation,meanwhile,asset bubbles and industrial hollowing-out should be prevented,and the long-term effects of population aging should be highly concerned.