人民币不是打贸易战的武器_公共英语阅读理解

人民币不是打贸易战的武器

其中一个手段就是使用货币政策，包括调整国家货币的价值。

One tool is the use of monetary policy, including the adjustment of the value of a country’s currency.

汇率调整并不是外科手术工具，它是一种钝器，影响着经济中与每个贸易伙伴往来的每一项商品的价值，因此不像人们期待的那样被频繁使用。但汇率在贸易中也可以有实用性，因为较低的汇率会让出口的产品更便宜。在贸易战中，汇率变动可以用来抵销关税的增加。

Currency adjustment is a blunt tool, rather than a surgical instrument. It affects the value of every item in the economy with every trading partner and is, consequently, not used as frequently as might be expected. But it can have utility in trade as a lower value currency will make exports cheaper. In a trade war, currency movements can offset tariff increases.

但货币贬值同时也提高了进口成本。鉴于中国企业在整个亚洲供应链的融入状况，人民币贬值不会自动产生收益。许多在中国为国内市场和海外消费者生产组装的产品，所使用的都是在全球范围采购的原材料和零部件，人民币贬值会提高这些商品的价格，抵销任何出口成本的削减。

Devaluing currency also drives up the cost of imports. Given the integration of Chinese firms into supply chains across Asia, a lower yuan is not automatically beneficial. Many of the products produced and assembled in China for the domestic market and for overseas consumers are created with raw materials and components sourced globally. A falling yuan can raise the prices for each of these items and may more than offset any cost savings in exports.