与此同时，汇率调整必须辅之以根本的结构变革。
At the same time, fundamental structural change must accompany the exchange rate adjustments.
但汇率调整必须成为旨在减缓全球失衡的国际协作计划的一部分。
But currency adjustments must be part of an internationally coordinated plan to reduce global imbalances.
他说，最重要的是重启人民币汇率调整过程，无论幅度有多小。
"The most important thing is to restart the process of renminbi adjustment, no matter how small it is," he said.
与据推测，中国汇率调整不当，对此可能采取的措施构成了最大的风险。
5the biggest risk comes from measures linked to China's supposed exchange-rate misalignment.
但无法进行汇率调整的国家则面临压力，要找出帮助本国产业的其他方法。
But countries that were unable to realign their currencies remained under pressure to find alternative ways of helping their domestic industries.
GDP计算方法多种多样，再加上不同类型的通货膨胀调整以及所用货币的汇率调整。
And GDP comes in multiple flavors, with different kinds of inflation adjustments plus adjustments for the currency being used.
入世过渡期人民币汇率调整可以实行“两步走，一步大、一步小”的策略。
During transition period after entering the WTO, the adjustment of RMB exchange rate can be realized through the strategy of "two steps with one step big and the other small".
人民币汇率调整应该基于中国利益主动调整，不能迫于外国压力，被动调整。
The adjustment of the exchange rate of RMB should be an active one initiated by China on the basis of its own interest, not a passive one as a result of submission to foreign pressures.
汇率调整的决策应该在对汇率调整的宏观经济效应进行综合分析的基础上进行。
The adjustment of ex-change rate should be made on the basis of comprehensively analyzing the macroeconomic effectiveness of the adjustment.
目前存在的不同组合的浮动和固定汇率制度，创造了特定的经济工具进行汇率调整。
Currently there exist different combinations of floating and fixed exchange rate systems, together with specific economical instruments, created for exchange rate regulating.
以名义美元计算，2005年以来，主食价格已涨了一倍多，虽然按国内通胀和汇率调整后，影响会小一些。
The price of food staples in nominal dollar terms has more than doubled since 2005 although the impact is smaller when adjusted for domestic inflation and exchange rates.
但是，今后的痛苦的程度还取决于从已经发生了的汇率调整幅度到国家外汇储备规模等一系列自身的因素。
But just how much pain lies ahead will also depend on local factors, from the scale of the exchange-rate adjustment that has already taken place to the size of countries' reserves.
由于全球汇率调整在亚洲受阻，全部压力落在了允许汇率自由浮动的货币肩上，包括欧元在内(见图表)。
With the global currency adjustment thwarted in Asia, it has fallen with full force on those currencies that are allowed to float freely, including the euro (see chart).
中国央行在声明中承认，汇率调整“对解决对外失衡”有一定作用，但只是一系列同等重要的政策工具中的一个。
In its statement, the PBoC acknowledged exchange rates could help "ease external imbalances", but only as part of a much broader set of equally important policy tools.
所以为了实现目标，一个关于汇率调整的更为系统的分析也是必要的，对于不同国家政策所产生的意外效果的评估也同样重要。
So, too, would a more systematic analysis of the exchange-rate adjustments needed to get there, as well as an assessment of the spillovers between countries' policies.
对19个国家25年（1975—2000）月度数据的拟合效果表明在经汇率调整后的对美国股市收益率差有着较好的拟合结果。
Our empirical results from historical data of 19 countries in 25 years (1975-2000) show that the return differential of equity market has good prediction power for currency crises.
但是，这两项转变对于减轻全球失衡虽然是必需的，却还不够。为此，汇率也必须调整。
But while these two shifts are necessary to reduce global imbalances, they are not enough. For that, exchange rates must also adjust.
这一政策表达出一种清晰的含意：实际汇率的调整，应该经由美国国内物价的下跌来实现。
The implication of this policy is clear: adjustments in real exchange rates should occur via falling US domestic prices.
因此，美元汇率的调整，可能会减少对其它国家的出口，或者增加从世界其它地区的进口。
The dollar exchange rate would therefore adjust to cause fewer exports to other countries or more imports from the rest of the world.
官方声称“调整汇率”会使委内瑞拉更具竞争力，但委内瑞拉人民过去曾有类似经验，他们知道应该如何应变。
OFFICIALLY it is an "exchange-rate adjustment" to make the country more competitive. But Venezuelans have been here before, and they know what to do.
如果某些国家管理它们的汇率、人为压低汇率，那么调整的负担就会落在一些不那么积极管理汇率的国家身上。
If some countries manage their exchange rates and keep them artificially low, the burden of adjustment falls on some countries that do not manage their exchange rate so actively.
最新出炉的CPI指数也说明实际汇率正在进行调整。
The latest CPI also suggest that real exchange rate adjustment is taking place.
最新出炉的CPI指数也说明实际汇率正在进行调整。
The latest CPI also suggest that real exchange rate adjustment is taking place.
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