汇率低估

能源产量猛增开始拉低能源价格，从而增强了汇率低估效果。

Burgeoning energy output is cutting energy costs , enhancing undervaluation .

我们提议更新美国的反倾销法，将汇率低估问题纳入该法律范畴。

We propose modernising US anti-dumping laws to account for currency undervaluation .

在后WTO时代，汇率低估就是另一种方式的关税壁垒。

Post-WTO , an undervalued currency is a tariff barrier by other means .

WTO需要制定禁止汇率低估的新规则。

What is needed is a new rule in the WTO proscribing undervalued exchange rates .

2006年至2008年间，人民币实际汇率低估所贡献的净出口，相当于GDP的5.6%。

The undervalued Chinese real exchange rate generated a contribution of net exports of 5.6 per cent of GDP between 2006 and 2008 .

巴西最近提议修改世界贸易组织（WTO）法律，允许对来自汇率低估国家的进口实施关税，这一措施类似于上述美国法案中拟议采取的单边行动。

Brazil recently suggested that World Trade Organisation law be changed to permit tariffs to be imposed against imports from countries with undervalued exchange rates , a measure similar to the unilateral actions in the proposed US bill .

近年来，我国CPI迅速上涨，其中一个原因是人民币汇率低估、央行持有大量外汇储备。

In recent years , CPI of China has grown at an unacceptable speed , which is partly due to the undervalued RMB exchange rate and the large amount of foreign exchange reserve held by its central bank .

数名执行董事同意人民币汇率低估。

Several directors agreed that the exchange rate is undervalued .

但世界作为一个整体，是不可能出现汇率低估的。

But the world as a whole cannot be undervalued .

对于人民币汇率低估程度的各种估算差异极大。

Estimates of the degree of undervaluation vary massively .

它在那些汇率低估的新兴经济体加剧了通胀风险。

It intensifies inflation risk in those emerging economies with undervalued exchange rates .

简言之，它采取的是一种长期、慎重、且有利于增强竞争力的汇率低估政策。

In short , it has followed a sustained , deliberate policy of competitive undervaluation .

它们采取汇率低估的方式，以确保自身在全球市场上的份额。

They are resorting to undervalued exchange rates to ensure their share of global markets .

为了间接补贴出口，中国有意将人民币兑美元汇率低估。

China keeps its renminbi undervalued against the dollar in order indirectly to subsidise its exports .

指责汇率低估的游戏或攻讦助长通胀的剧码能够持续多久？

How long can the currency undervaluation blame game or the finger-pointing about the fuelling of inflation last ?

剩下的唯一真正手段，就是单方面对进口中国产品征收关税，以补偿其所称的汇率低估损失。

The only real route left is to unilaterally slap tariffs on Chinese imports to compensate for alleged currency undervaluation .

然而，在以出口和资本投资为基础的发展模式中，汇率低估是其核心所在。

But an undervalued exchange rate is at the centre of a development model built around exports and capital investment .

汇率低估和货币宽松政策让问题更加复杂化，导致全球领导人产生了危险的意见分歧。

Undervaluation of currencies and monetary easing were complicating problems and leading to a dangerous divergence of opinion among global leaders .

其他用来证明人民币汇率低估的证据，如贸易盈余还在争论中。

The other main evidence cited as proof that China 's currency is undervalued the trade surplus is also contested in Beijing .

这种联系体现为汇率低估与通货膨胀并存，而汇率高估与通货紧缩并存。

This link appears to be the contemporary existence of exchange rate devaluation ( or overvaluation ) and inflation ( or deflation ) .

首先，事实上汇率低估属于贸易保护主义政策，因为它们综合了进口关税与出口补贴。

First , undervalued exchange rates are de facto protectionist trade policies because they are a combination of export subsidies and import tariffs .

尽管债券收益率上升使背负逆差的发展中国家受到冲击，但那些高度依赖出口的顺差型发展中国家，也面临发达国家汇率低估的问题。

While developing countries in deficit suffer as bond yields rise , those in surplus , heavily dependent on exports , face advanced country undervaluation .

同时，它还采取措施抑制汇率低估原本会导致的通胀上升（以及实际汇率的上升）。

And it has taken measures to stem the inflation ( and the rise in the real exchange rate ) that would otherwise have resulted .

本文总结了所有可能的传导机制以及汇率低估和外汇储备过多对国内通货膨胀可能产生的影响。

This paper summarizes all the possible channels and consequences of undervalued RMB exchange rate and the large amount of foreign exchange reserve on CPI .

这样做的效果是使人民币相对于其他货币的汇率低估，从而降低出口到海外的中国货物的相对价格；

This has the effect of undervaluing the Chinese yuan compared to other currencies , and lowering the relative cost of Chinese goods shipped abroad .

中国始终坚持人民币汇率低估的做法，以支持出口和以投资驱动的增长模式。在这种模式中，储蓄率过高，消费则严重不足。

China has persisted in its weak currency , to support its export and investment-led growth model where savings are too high and consumption too low .

上月，美国众议院两党以多数票通过了一项法案，该法案允许美国企业就从汇率低估国家申请关税保护。

Last month the house of Representatives passed a law allowing firms to seek tariff protection against countries with undervalued currencies , with a huge bipartisan majority .

该法案将要求美国商务部在计算所谓的“反补贴关税”（征收对象是被视为得到政府补贴的进口）时，采用估算的汇率低估幅度。

The bill would require the commerce department to use estimates of currency undervaluation when calculating so-called " countervailing duties " , imposed against imports deemed to be state-subsidised .

该法案将要求美国政府在对其视为得到不公平政府补贴的进口征收的“反补贴”关税中，纳入估算的汇率低估幅度。

The law would require estimates of such undervaluation to be included in so-called " countervailing duty " tariffs that Washington imposes on imports it deems to be unfairly state-subsidised .

在伯南克的讲话原稿中谈到人民币汇率低估，向把重点放在出口而非本国市场的中国企业提供了有效补贴。

Mr Bernanke 's original draft talked about the effective subsidy that an undervalued currency provides for Chinese firms that focus on exporting rather than producing for the domestic market .