汇率

Currencies: mutually assured devaluation
Lex专栏:汇率的战争与和平


当年,一场世界大战促成了布雷顿森林体系的建立——那是迄今为止最后一次国际汇率大协作。现在,也许需要一场金融战争,才能催生新的国际合作。

Our currency, your problem. In 1971, the US Treasury Secretary told the rest of the world it had to deal with a weak dollar. Nowadays, that sentiment could be expressed by the leaders of China, which has been able to control the level of the renminbi while pretty much ignoring complaints that the pace of revaluation is too slow. Japan, whose September intervention has been entirely reversed by the market, could only wish to be as successful.

“我们的货币,你们的问题。”1971年,时任美国财长告诉世界其它地区,它们必须自行应对疲弱的美元。现在,manbetx3.0 领导人表达的可能是相同的情绪——manbetx3.0 政府一直能够左右人民币的汇率水平,同时对人民币升值太慢的抱怨声几乎充耳不闻。日本只能期望自己能同样成功——日本政府9月份入市干预,但功效已被市场彻底抹掉。

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