Every time any official in Beijing deliberates publicly about seeking an alternative to the U.S. dollar for the $2.1 trillion China holds in reserve, currency traders have a heart attack.
每当北京的任何官员公开商议，为中国持有的2.1万亿美元外汇储备寻找替代美元的货币时，外汇交易员就会心脏病发作。
By so doing they are misdiagnosing Japan's woes and misperceiving the true threat to their own economy. The threat to China does not lie in an appreciating currency but elsewhere.
他们这么做是对日本问题的误判，也没有认清中国经济面临的真正威胁——威胁并不在人民币升值上，而在其它方面。
The opposite is true.With its biggest export market in a funk, China needs to accelerate the rebalancing of its economy towards domestic consumption, with the help of a stronger currency.
事实情况正好相反，在最大的出口市场陷入一片恐慌之际，中国应该让人民币升值，加快经济增长向依赖国内消费转变。
"China would not even have to raise debt [in order to boost demand]," she says, pointing to the country's vast currency reserves.
“中国甚至不需要举债(来刺激需求)，”她指的是中国拥有庞大的外汇储备。
China may dream of a different world in which the yuan ranks alongside the dollar, euro, sterling and yen as a reserve currency.
中国可能在憧憬，在不同的世界秩序下人民币会跟美元、欧元、英镑、日元一样，成为储备货币。
In currency markets, the buzz among traders is that there is another factor at work, too: China.
外汇市场上，交易员们正热烈谈论着还有一个因素在起作用：中国。
The ADB is doing its part, having raised local currency bonds in China, the Philippines, Thailand and Malaysia.
亚洲开发银行正在做其中一部分工作，在中国、菲律宾、泰国和马来西亚发行本币债券。
China has long wanted its currency to play a more important role in the global financial system.
中国早就希望人民币能在全球金融体系中扮演更重要的角色。
A Vietnamese exporter selling to China is exposed to exchange-rate risk: he pays his workforce in dong, the local currency, but receives payment in dollars.
越南商人向中国出口产品将面临汇率的风险：用本地的越南盾支付员工工资，但是收到的货款却是美元。
China first allowed its tightly controlled currency to rise in 2005 when the Senate was on the verge of passing a similar measure.
2005年，参议院即将通过一项类似的措施时，中国首次允许其严格控制的货币升值。
Many economists cite China, which relies heavily on exports to fuel its fast-growing economy, as a key influencer in the currency imbalance.
许多经济学家都将中国称为造成货币不平衡的关键影响因子，中国严重依赖出口来保持经济的迅速增长。
Many economists cite China, which relies heavily on exports to fuel its fast-growing economy, as a key influencer in the currency imbalance.
许多经济学家都将中国称为造成货币不平衡的关键影响因子，中国严重依赖出口来保持经济的迅速增长。
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