世界银行：2026年外部部门报告-在不断加剧的失衡中，再平衡的理由（英文版）

Directors observed that persistent and elevated current account positions reflect primarily domestic macroeconomic imbalances and are also affected by spillovers from other countries. They broadly agreed that, in the United States, these positions reflect persistently low saving; in China, they are associated with structurally high private saving and, more recently, weaker investment; while, in the euro area, they relate to subdued investment amid weak productivity growth. Directors generally co