Not only can they inflate asset bubbles and spur excessive borrowing, but they can also cause a steep rise in the exchange rate, damaging the competitiveness of export sectors.
不仅推高资产泡沫,而且加速借款增长,还会造成汇率的陡然升高,损害本国出口业竞争力。
But recessions may also spur the creation of new businesses.
然而,经济衰退也可能刺激新行业(企业)的诞生。
But Japan's failure to spur a strong domestic recovery a decade later suggests that America and Europe may also have a long, hard journey ahead.
但是日本经过十年也没能提振国内需求的失败经验表明,美国和欧洲未来的复苏之路也将漫长和艰辛。
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