人民币贬值能缓解贸易战冲击,但也有代价_公共英语阅读理解

人民币贬值能缓解贸易战冲击,但也有代价

特朗普已提出要对更大范围的中国产品加征关税，但加征的幅度较低，只有10%。但中国的政策制定者们可能会希望避免一种情况，那就是让投资者和其他人认为，汇率水平直接受贸易战的影响。

And a big slide could hurt China.

而且，货币大幅贬值可能会给中国带来伤害。

A nose-dive in the renminbi would come at a difficult time for the Chinese economy. A dizzying rise in borrowing has driven a considerable portion of China’s growth. The government, fearing that some borrowers will have problems repaying the debt, has tried to restrain borrowing. But such limits can also slow the economy, which is why some constraints were recently loosened.

如果人民币大幅贬值，会发生在中国经济面临艰难的时刻。中国经济增长的相当一部分是靠令人目眩的借贷增长。政府担心一些借款者将在债务偿还上出问题，因此试图限制借贷。但这种限制也会减缓经济增长，这就是为什么政府最近放松了一些限制。

Fears about China’s debts were on the rise in 2017 when the government carried out a surprise devaluation.

2017年，当人们对中国债务的担忧有所增长时，中国政府出人意料地开始让货币贬值。

Individuals and companies in China dumped renminbi and bought other currencies, to protect their wealth against further decreases in the value of the Chinese currency. The selling, known as capital flight, suggested that the Chinese had little faith in their own economy, and raised questions about the Chinese central bank’s handling of the devaluation. The other big fear at the time was that the prices of Chinese goods in other countries would fall, forcing producers there to also cut their prices and hurt the wider economy in the process.