But, between the sub-prime US mortgage crisis and the dollar’s ongoing decline, America’s exorbitant privilege now looks a bit shaky.

但是，在美国次级房贷危机已经正在下滑的美元当中，美国的嚣张特权现在似乎有点不稳了。

© Project Syndicate 1995 – 2011

http://www.project-syndicate.org/ 15.01.2011

© Project Syndicate 1995 – 2011

http://www.project-syndicate.org/ 15.01.2011

While the logic of this argument is shaky, it taps into deep Japanese concerns about China’s rise.

虽然这 种论点的逻辑仍显脆弱，但它却充分利用了日本人对中国崛起的担心。

© Project Syndicate 1995 – 2011

http://www.project-syndicate.org/ 28.10.2010

© Project Syndicate 1995 – 2011

http://www.project-syndicate.org/ 28.10.2010