2005年NPR美国国家公共电台十二月-Chinese Official Foresees Boost in Curre

Steve Inskeep: China is taking steps that are designed to benefit both the domestic and global economies. A Chinese official said today the country's currency will gradually gain value. That trend will spur domestic consumption inside China itself and also help reduce global trade imbalances. International economists² say China's currency is severely³ undervalued and recent economic reforms by Beijing have had little effect. NPR's Anthony Kuhn reports.

Anthony Kuhn: The comments came from economist¹ Yu Yongding, an advisor⁴ to China's central bank. He was quoted in today's official Finacial News newspaper. He said that following China's exchange rate reforms in July, the Chinese yuan would rise slowly within a range set by the government. July's reforms took the yuan's exchange rate off its peg⁵ to the US dollar and instead pegged⁶ it to a basket of foreign currencies. Yu admitted that since the reform, the yuan had only risen 0.4% against the dollar. That's not much compared to the 15 to 40 percent by which foreign governments say the yuan is undervalued. The revaluation has already put a damper on Chinese textile and electronic exports, Yu Yongding noted⁷. But more importantly, Yu predicted that the revaluation would boost Chinese domestic demand and imports, which in turn would cut trade surpluses with countries like the US. The revaluation has clearly helped to cool speculation⁸ about big swings in the yuan's value. The official China Business News reported today that China's foreign currency reserves grew by 9.3 billion dollars in November, the slowest rate in 18 months. Zhong Dajun is a Beijing-based economist who runs his own think tank. He says a lot of the recent influx⁹ of foreign currency into China is hot money, betting the China's currency will rise in value.

Anthony Kuhn: 'Some speculated investors¹⁰ see that the yuan is now in a relatively¹¹ stable state,' he says, 'so their appetite and enthusiasm for speculation has weakened a bit. But foreign pressure for a bigger revaluation has not eased. US politicians continued to blame America's current account deficit¹² and loss of American jobs on an artificially undervalued Chinese currency.' Zhong Dajun says the finger pointing is unnecessary.

Anthony Kuhn: 'China's government doesn't need foreign governments to pressure it to adjust its exchange rate.' he says. 'Chinese economists have been telling their government for years,' he adds, 'that its mercantilist policies based on cheap exports have drained China's own resources and are unsustainable.'

Anthony Kuhn: Anthony Kuhn, NPR News, Beijing.

1 economist   

n.经济学家，经济专家，节俭的人

参考例句：

• He cast a professional economist's eyes on the problem.他以经济学行家的眼光审视这个问题。
• He's an economist who thinks he knows all the answers.他是个经济学家，自以为什么都懂。

2 economists   

n.经济学家，经济专家( economist的名词复数 )

参考例句：

• The sudden rise in share prices has confounded economists. 股价的突然上涨使经济学家大惑不解。
• Foreign bankers and economists cautiously welcomed the minister's initiative. 外国银行家和经济学家对部长的倡议反应谨慎。 来自《简明英汉词典》

3 severely   

adv.严格地；严厉地；非常恶劣地

参考例句：

• He was severely criticized and removed from his post.他受到了严厉的批评并且被撤了职。
• He is severely put down for his careless work.他因工作上的粗心大意而受到了严厉的批评。

4 advisor   

n.顾问，指导老师，劝告者

参考例句：

• They employed me as an advisor.他们聘请我当顾问。
• The professor is engaged as a technical advisor.这位教授被聘请为技术顾问。

5 peg   

n.木栓，木钉；vt.用木钉钉，用短桩固定

参考例句：

• Hang your overcoat on the peg in the hall.把你的大衣挂在门厅的挂衣钩上。
• He hit the peg mightily on the top with a mallet.他用木槌猛敲木栓顶。

6 pegged   

v.用夹子或钉子固定( peg的过去式和过去分词 )；使固定在某水平

参考例句：

• They pegged their tent down. 他们钉好了账篷。 来自《简明英汉词典》
• She pegged down the stairs. 她急忙下楼。 来自《现代英汉综合大词典》

7 noted   

adj.著名的，知名的

参考例句：

• The local hotel is noted for its good table.当地的那家酒店以餐食精美而著称。
• Jim is noted for arriving late for work.吉姆上班迟到出了名。

8 speculation   

n.思索，沉思；猜测；投机

参考例句：

• Her mind is occupied with speculation.她的头脑忙于思考。
• There is widespread speculation that he is going to resign.人们普遍推测他要辞职。

9 influx   

n.流入，注入

参考例句：

• The country simply cannot absorb this influx of refugees.这个国家实在不能接纳这么多涌入的难民。
• Textile workers favoured protection because they feared an influx of cheap cloth.纺织工人拥护贸易保护措施，因为他们担心涌入廉价纺织品。

10 investors   

n.投资者，出资者( investor的名词复数 )

参考例句：

• a con man who bilked investors out of millions of dollars 诈取投资者几百万元的骗子
• a cash bonanza for investors 投资者的赚钱机会

11 relatively   

adv.比较...地，相对地

参考例句：

• The rabbit is a relatively recent introduction in Australia.兔子是相对较新引入澳大利亚的物种。
• The operation was relatively painless.手术相对来说不痛。

12 deficit   

n.亏空，亏损；赤字，逆差

参考例句：

• The directors have reported a deficit of 2.5 million dollars.董事们报告赤字为250万美元。
• We have a great deficit this year.我们今年有很大亏损。