Not all is gloom. Despite a rise in the yen, Japan’s terms of trade have been helped by sharp falls in the price of energy, almost all of which Japan imports.

并不是一切都是坏消息，日元升值，在下降的能源价格的帮助下（这部分日本几乎全靠进口），日本的贸易条件可以改善。

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The country's terms of trade (the price of its exports divided by its imports) have leapt by 30% over the past three years to their highest level for over 50 years (see left-hand chart).

澳大利亚的贸易条件（出口价格除以进口价格）已跃居30％，已超过三年来的最高点成为50年的最高水平。

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The terms of Australia's trade-the price of its exports, relative to the cost of its imports-have improved by 42% since 2004.

自2004年以来，澳大利亚的贸易条件(即出口品价格与进口品成本的比值)改善了42%。

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However, it is a low probability trade also in terms of price maximization of trade.

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If the home industry makes too much, it will depress the price of its exports on world markets, damaging the country's terms of trade, and hurting workers.

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The country's terms of trade - the price of its exports relative to its imports - has risen by more than 80% since 2000.

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