devaluations

The threat of a weaker yuan and the competitive devaluations it might inspire is raising worries in a world already struggling with low demand.

人民币走软的威胁以及可能由此引发的竞争性货币贬值令一个已经在同低迷需求做斗争的世界倍感忧虑。

We reaffirm our commitment to refrain from competitive devaluations and all forms of protectionism.

我们再次承诺，将避免采取竞争性贬值和各种形式的保护主义。

This wave of unilateral, competitive devaluations creates a vicious cycle that leads to trade and exchange rate protectionism.

这股单边竞争性贬值的浪潮造成了一种恶性循环，从而导致了贸易与汇率保护主义。

So far, the renminbi has been one of the few currencies to hold its value against the dollar in a world of increasing competitive devaluations.

在世界各国的竞争性货币贬值愈演愈烈之际，人民币迄今为止是少数几个相对美元币值保持坚挺的货币之一。

Two closely related scourges played a central role in the collapse of world trade in the1930s: protectionism and beggar-thy-neighbor currency devaluations.

1930年代国际贸易的崩溃和两个因素密切相关：贸易保护主义，以及操纵货币汇率使其相对其于他国家币值更低。

Indeed, as the world goes into a severe economic downturn, the threat of beggar-thy-neighbour devaluations becomes acute, as in the 1930s.

事实上，随着世界步入严重的经济衰退，上世纪30年代那种以邻为壑的货币贬值威胁变得严峻起来。

This means that both the US and eurozone countries suffer from currency intervention and competitive devaluations elsewhere, with little room to adjust.

这说明，美国和欧元区国家受到其它地区汇率干预和竞争性贬值的影响，没有多大的调整空间。

That way lies competitive devaluations and trade wars.

这条道路的前方埋藏着竞争性贬值和贸易战.

Eurozone members have thus been spared confronting a currency crisis and competitive devaluations as they resolve the banking crisis.

因此在解决银行业危机的同时，欧元区成员国不必应对汇率危机和货币竞争性贬值。

This paper analyzes the effects of currency devaluations on international trade under the framework of general equilibrium.

本文在一般均衡框架下分析货币贬值对国际贸易的影响。

The main argument against devaluations is that they defeat the purpose of adopting a fixed exchange regime in the first place.

反对贬值的主要观点是他们使首先采用固定汇率制度的目的受到减损。

The current round of competitive devaluations is a particularly disturbing policy development.

目前这一轮竞争性货币贬值是一种尤其令人担忧的政策进展。

Nevertheless, some experts see alarming parallels with the competitive devaluations and protectionism of the great depression.

然而，一些专家从中看到了与大萧条时期的竞争性贬值和保护主义类似的苗头。

When Britain abandoned gold in September 1931, it unleashed a wave of competitive devaluations.

1931年9月英国脱离金本位时引发了一波竞争性贬值的热潮。

There were massive devaluations of several currencies.

有几种货币大幅贬值。

Other central bankers will also face intense pressures to support their domestic economy by weakening the currency, leading to competitive currency devaluations.

其它央行行长们也将面临巨大的压力：通过让本国货币贬值支持国内经济，这最终将造成各国货币竞相贬值。

Until now the international monetary system got through the crisis without competitive devaluations and I hope very much it stays that way.

到目前为止，国际货币体系没有采取竞争性贬值而度过了危机，我非常希望这种状况可以继续下去。

Current economic pressures have led to wide-scale devaluations of assets such as commercial mortgage-backed securities.

当前的经济压力已经致使类似商业住房抵押贷款证券这类金融资产大幅贬值.

Soaring inflation, regular currency devaluations and a de facto foreign debt default by vinashin, a state-owned shipbuilder, have shaken investor confidence in Vietnam.

通胀飙升、本币长期贬值以及国有造船厂越南工业轮船总公司（vinashin）事实上的外债违约，动摇了投资者对越南的信心。

Currency devaluations are the moment when protectionism gets nasty.

保护主义最严重的症状就是货币贬值.

Some leaders may be tempted to help their economies by competitive devaluations, export subsidies or industrial bail-outs.

有些国家的领导人可能会忍不住诱惑，通过本币竞争性贬值、出口补贴和行业纾困的方式来扶持本国经济。

Yet the currencies of a number of countries with robust external positions have had large real devaluations since the crisis became severe early last autumn.

然而，自去年秋天危机恶化以来，一些外部地位强劲的国家经历了实际贬值。

This proves that the interaction between attempts at "internal devaluations" and the dynamics of debt are potentially lethal.

该案例证明，“内部贬值”努力与债务变化态势之间的相互作用可能是致命的。

As any German would surely also remember, such devaluations meant that there was no German trade surplus before the euro.

而想必所有德国人也都记得，由于如此急剧的贬值，在欧元推出前，德国根本毫无贸易顺差可言。

Costs are likely to rise as currency devaluations occur in many countries as an unavoidable side effect of the crisis.

费用很可能随着许多国家货币贬值不断上升，而货币贬值是危机带来的不可避免的副作用。

The first wave [ of investment] was caught up in the Asian financial crisis, the devaluations in Latin America and the rouble crisis.

第一波（投资）赶上了亚洲金融危机、拉美货币贬值风潮和卢布危机。

The eurozone and Japan, despite enjoying the benefits of big competitive devaluations, are struggling to deliver half-decent growth rates.

欧元区和日本尽管享受着大幅竞争性贬值的好处，但仍难以达到像样的增长率。

So would a growing number of competitive devaluations from EU member states outside the euro.

若欧元区以外的欧盟国家竞相实施竞争性货币贬值，也会起到同样的效果。

Countries that can expand their share of global demand by competitive devaluations are seeking to do so.

能够通过竞争性贬值、扩大自己在全球需求中所占份额的国家，正试图这样做。

Brussels is firmly against, fearing that it would trigger currency instability, bank failures and competitive devaluations across the EU.

而布鲁塞尔坚决反对，担心这将引发汇率不稳定、银行破产和整个欧盟内部出现竞争性贬值。