The global international trade imbalance is first caused by three major economic policies of the United States, namely, deficit fiscal policy, high consumption policy and export control policy. In the United States, trade deficit and fiscal deficit are twin brothers, more precisely, a "father-son relationship". Fiscal deficit will inevitably lead to trade deficit, which will increase with the increase of fiscal deficit. 1980, the US fiscal deficit was $76.2 billion, accounting for 1.94% of GDP. Correspondingly, the trade deficit is only 3 14 1 billion dollars. By 2005, the US fiscal deficit was as high as $499.2 billion, accounting for 4% of GDP, so the trade deficit reached a new high of $828.4 billion. Generally speaking, the trade deficit is usually equal to the difference between a country's domestic savings and investment. Therefore, the trade deficit is either due to the increase in investment or the decline in savings. The United States has increased investment and reduced savings, pushing the trade deficit to expand rapidly or even skyrocket. In the United States, not only the government depends on twin deficits, but also households rely on loans for consumption. The household savings rate of American residents is extremely low and it is difficult to support high consumption, so they live by borrowing.

By the third quarter of 2005, American household debt had reached 1 1.4 trillion dollars. As imports greatly exceed exports, the United States has to borrow $2 billion from poorer countries every day to make up for the huge trade deficit. It must also be pointed out that the huge trade deficit of the United States is closely related to its so-called export control policy characterized by double standards. From the industrial structure of the United States, capital-intensive high-tech industries are its advantages, and labor-intensive necessities industries are its disadvantages. This determines that the United States must import labor-intensive products and export high-tech products. However, while importing a large number of labor-intensive products, the United States strictly restricts the export of high-tech products, which will inevitably lead to trade imbalance, especially between China and the United States. From the perspective of developing countries, there are three kinds of situations that affect the imbalance of international trade. First of all, the necessary foreign exchange reserve is an effective means to prevent and solve the financial crisis. In the past 20 years, several financial crises in Latin America and Asia began with breaking through the shortage of foreign exchange, and finally were solved by injecting foreign exchange from outside. The painful lesson has made many developing countries understand that foreign exchange reserves must be increased through various channels in case of emergency. Therefore, these countries strive to export more than import and increase foreign exchange. This will definitely affect the trade balance. Second, take the trade surplus as the engine of investment and growth. Many developing countries had hoped to introduce a large amount of foreign capital to develop their own economies. But this wish has not come true. Therefore, we have to turn to self-reliance and rely on China's trade surplus to accumulate funds. This leads to more exports and less imports, resulting in trade imbalance. Third, the transfer of deficit or surplus caused by industrial transfer. From the 1960s to the early 1980s, labor-intensive industries in developed countries such as Europe and America were transferred to many developing countries, especially some countries and regions in Southeast Asia. Therefore, these countries and regions have exported to developed countries in Europe and America in large quantities, and maintained a trade surplus. Since the early 1980s, Japanese, American and Asian "Four Little Dragons" have transferred some industries to Chinese mainland, and then transferred their trade surplus to China. This is one of the important factors that form the trade imbalance between China and the United States.

Although on the surface, there are many reasons for global trade imbalance, even strange, but through fundamental research and observation, it is not difficult to find that this is caused by the imbalance of world economic development. Due to science and technology, economy, society, natural resources and many other reasons, the economic development speed of different countries is not the same. It turns out that some backward countries have caught up. On the contrary, some advanced countries have fallen behind. In this way, the old economic order and trade relations are bound to be disrupted, and a new order and relationship will be formed. Never stop at one point. Advance in friction, contradiction and struggle. Balance, imbalance, rebalancing, ... cycle after cycle, even endless, which is the objective law of international trade development.