economy

2024年3月19日发(作者：长城哈弗h6参数配置)

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Some investors were calling for a coordinated currency intervention when

officials from the world\'s top economies met recently. Instead they got an

agreement to \"consult closely\" with each other on exchange-rate polices.

最近，当来自世界经济排名国家官员会晤时，一些投资者呼吁协调货币干预政策。然

而，各国只是在汇率政策问题上达成一个协议，决定彼此之间保持密切磋商。

No big deal? U.S. officials see it differently, framing the resolution as an

important commitment that could help prevent a cascade of global exchange-rate

depreciations.

这些磋商没什么大不了的，但是美国官员却并不这么认为。美国将达成的决策看作是

一项能有效地遏制全球汇率贬值风险的重大举措。

\"There won\'t be any surprises. We won\'t see countries acting in a way that

could trigger the kind of competitive devaluation that leads to potentially a

currency war,\" U.S. Treasury Secretary Jacob Lew said Tuesday.

在周二的时候，美国财政部长雅各布.卢说道：“不用奇怪，我们不会看到国家间竞相

货币贬值，引发各国货币战争的局面了。”

U.S. officials pushed the language early in the G-20 talks as part of their effort

to preempt the type of volatility that has rocked markets over the last year amid

historic capital outflows from emerging markets.

在G-20峰会上，美国官员较早地这样表态，也是美国抢占从新兴市场国家流出的资

本的一种努力，这些资本曾造成了去年经济市场的汇率动荡。

Investors are particularly concerned China will revert to currency devaluation

as its economy slows further. Meanwhile, Europe and Japan are charting

unprecedented paths into negative-interest-rate territory in a bid to revive anemic

output, policies that depreciate their currencies. Investors worry that China—or

even Japan—could spark a dangerous cascade of tit-for-tat currency interventions

around the globe if authorities suddenly devalue.

投资者密切关注，认为若中国的经济进一步放缓的话，中国政府将会诉诸于降低汇率

的办法。在此期间，欧洲和日本也正在努力刺激出口/使不景气的出口/疲软乏力的出口复

兴，制定前所未有的货币贬值等低利率政策。投资者们担心，如果中国或是日本当权者突

然让货币贬值的话，可能引发全球范围内的尖锐的/针锋相对的货币干预浪潮。

The G-20 accord matters in a few ways.

G-20峰会就以下事项达成了一致。

First, peer pressure may make governments think twice, with officials aware

they will face a browbeating by fellow G-20 members if they embark on policies

seen as stealing growth from other economies.