国际资金市场变化与我国外债管理●王元一、国际资金市场的新特点（一）资金市场变化翻云覆雨７０年代以来，随着美国经济的衰落和国际收支不断恶化，美国双赤问题（贸易赤字、财政赤字）日趋突出。与此同时日本和德国经济实力不断增强，世界经济国际化、多边化迅速发展使美元 International Funds Market Changes and China’s Foreign Debt Management ● Wang Yuanyi New Features of International Funds Markets (I) Change in Funding Market Since the 1970s, with the decline of the U.S. economy and deteriorating balance of payments, the U.S. deficits (trade deficits , Fiscal deficit) has become increasingly prominent. At the same time, the economic strength of Japan and Germany has been constantly enhanced. The internationalization of the world economy and the rapid development of multilateralism have made the U.S. dollar