Central Banks absorb the dollars as reserves and issue local currency.

央行吸纳美元作为储备金以及发行地方货币。

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So facing limited alternatives, Americans are forced to absorb the higher prices (a fact that currency legislation supporters are undoubtedly unwilling to share with their constituents).

FORBES: Economists Ignore the Facts in Supporting Chinese Currency Legislation

By anchoring the currency, governments forced the real economy to absorb shocks.

ECONOMIST: The link between exchange rates and asset markets