汇率管制

另外，中国的汇率管制阻止了投资者在两个市场的套利行为。

Moreover , currency restrictions prevent an arbitrage between the two markets .

谁想松动人民币汇率管制的螺钉？

Who Wants to Unfasten the Screw of the Fixed Exchange Rate of RMB ?

波顿麦基尔：中国没有义务放开其资本市场和汇率管制。

Burton Malkiel : China is not obligated to liberalize its capital market and free its currency .

中国人称之为有管理的浮动汇率管制，这也许意味着更多的管理而非浮动。

The Chinese called it a managed floating exchange-rate regime , which may well imply more management than floating .

顺便说一句，在本币承受压力之际，汇率管制缺位对中国并无益处。

China was not helped , incidentally , by its lack of exchange controls when its currency was under pressure .

但30年代实行汇率管制（如今再度盛行）的经验，说明此类措施并不总是管用。

Yet the 1930s experience of capital controls , now back in vogue , suggests they are not always effective .

每当围绕汇率管制的政治压力增大，中国就会允许人民币兑美元升值。

Whenever the political pressure over currency controls gets intense , China allows its currency to rise against the dollar .

尽管中国和印度股市今年也大幅下挫，但两国货币却没有出现大幅贬值，因为两国的汇率管制较为严格。

Although Chinese and Indian stock markets have seen sharp falls this year , their currencies have not suffered in the same way as they are more tightly managed .

而中国出于汇率管制方面的要求，也不想持续累积贸易顺差带来的更多外汇储备。

And China itself , because of its decision to manage its currency , does not want to keep piling up the extra foreign reserves that the trade surpluses produce .

制造业就业岗位的长期衰退源自于两个推动因素：一是制造业产品的巨大贸易逆差，这在一定程度上是中国汇率管制的后果；二是生产力提升。

The long-term decline in manufacturing employment has been driven both by large trade deficits in manufactured goods in part a function of Chinese currency management and by productivity gains .

中国决定放松一部分汇率管制，从周一起扩大人民币汇率日浮动幅度。此举受到各方欢迎，被视为迈向最终允许人民币汇率自由浮动的重要一步。

China 's decision to loosen some of its currency controls , permitting greater volatility in daily trade from Monday , has been welcomed as an important step towards allowing the renminbi to float freely .

科派斯塔克说，人们对经济紧缩和欧元稳定的忧虑使得过去一年欧元区城市的生活成本指数降低了，而加拉加斯能跻身前20则是由于人为的高汇率管制。

Copestake said fears over economic austerity and the stability of the euro had pushed the index of euro zone cities down in the past year while the inclusion of Caracas was due to artificially high exchange rate controls .

金融发展对国际贸易有促进作用如金融发展可以优化贸易结构、带来规模经济、分散贸易风险，也会通过利率管制、信贷管制和汇率管制带来负面影响。

Financial development can promote international trade , such as financial development can optimize the trade structure , bring large scale economies , decentralized trade risks , and bring negative impact by interest rate control systems , credit control systems and exchange control systems .

政府放松了对汇率的管制，汇率的波动越来越剧烈。

The Government relaxed controls on the exchange rate , exchange rate fluctuations become increasingly severe .

多元汇率外汇管制制度

Multiple rates system of exchange control

这种思维模式很可能让IMF对较贫困国家经常实行的低估汇率和资本管制措施更加宽容，而对试图逃脱过度负债和改革极不彻底的较富裕国家则不那么宽容。

That mindset might well lead to more patience with undervalued exchange rates and capital controls , as often practised by poorer countries , and rather less tolerance when richer countries try to get away with excessive debt and completely inadequate reforms .

多种汇率的外汇管制制度

Multiple rate system of exchange control

北京方面必须放松其管制，不仅是针对银行如何放贷，也包括在利率和汇率方面的管制。

Beijing must loosen its grip , not just on how banks lend but on interest and exchange rates .

1994年外汇管理体制改革之前，人民币汇率处于高度管制状态，汇率水平与我国经济状况脱节。

Before 1994 , foreign exchange management system reform , the RMB exchange rate was rigid , and deviated from China economic conditions .

中国已通过加快人民币升值步伐，对国内通胀迅速抬头作出反应。目前中国仍对人民币兑美元汇率施行严格管制。

China has already reacted to a surge in domestic inflation by stepping up the pace of appreciation of the renminbi , which it closely manages against the dollar .

虽然欧洲领导人清楚地知道，中国不太可能立刻采取措施允许人民币大幅升值，但北京对人民币汇率的严格管制，预计仍将成为本周一系列会晤的一个焦点。

Beijing 's tightly managed renminbi exchange rate is expected to be a focus of this week 's meetings , though European leaders are aware no immediate action to allow significant appreciation is likely .

当下的货币体系包括了五花八门的汇率体制和资本管制，与黄金无关，与其他什么也无关。

Today 's system has no tie to gold or any other anchor , and contains a variety of exchange-rate regimes and capital controls .

要想避免让世界经济进一步滑向一轮会造成破坏的汇率干预和资本管制循环，无论是中国还是美国都必须明智行事。

If the world economy is to avoid slipping further into a destructive cycle of currency intervention and capital controls , both China and America must act wisely .

中国央行的一名顾问将无节制地印美元称为全球经济面对的最大风险，并表示中国应当运用汇率政策和资本管制，保护自己免受外部冲击。

An adviser to the Chinese central bank called unbridled printing of dollars the biggest risk to the global economy and said China should use currency policy and capital controls to cushion itself from external shocks .

本章紧接着论述了开放经济下的宏观经济政策工具，一般而言，为了实现内外均衡，一国政府所能采取的政策手段包括财政政策、货币政策、汇率政策以及直接管制等。

This chapter then discussed macroeconomic policy tools under an open economy , in general , in order to achieve internal and external balance , a government can take the policy measures including fiscal policies , monetary policies and exchange rate policies , as well as direct control .

随着维系全球经济的布雷顿森林体系的正式瓦解，各国开始普遍采用浮动汇率制，许多国家纷纷放宽了对汇率的金融管制。

With the formal disruption of the Bretton Woods system , the maintenance of the global economy , States began to adopt floating exchange rate system widely . Many countries have relaxed controls on the exchange rate of finance .

由于利率、汇率之间存在着密切的联动关系，伴随着金融深化国际进程的不断推进，我国目前的利率与汇率管制体制弊端日益突出，因此深化其体制改革也越来越具有重要意义。

Considering the close relation between of them , following the international process of the finance deepening development , the disadvantages of the system , strictly controlling to interest rate and exchange rate , is so serious that the system reform to them more and more plays an important role .