When world markets are fearful and therefore rush for dollars, that impedes the adjustment in America's current-account deficit.
当世界市场出现恐慌，人们如潮水飞奔拥抱美元时，这就阻碍了美国经常账户赤字的调整脚步。
2
America's deficit problem is in essence a spending problem, so spending must bear the brunt of adjustment.
从本质上讲，美国赤字问题是开支问题，因此调整的重头须是开支。
3
Yet surplus countries tend to see themselves as virtuous and deficit countries as venal—the implication being that the burden of adjustment should fall on the borrowers.