Back in the 1970s, during the petrodollar recycling episode, the US operated primarily as a bank lender, borrowing short in its own currency and lending long.

• 追溯到20世纪70年代，在石油美元的循环时期，美国主要扮演银行贷方的角色，以本币借入短期借款，并发放长期贷款。