Japan's economic performance in the past 20 years has lagged its potential, but I would not blame yen appreciation for this.
过去20年，日本经济一直未能充分发挥其潜能，但我不会将此归咎于日元升值。
Yen appreciation reduces the value of repatriated profits for companies such as Toyota and Sony and makes their products more expensive abroad.
日元升值将降低像丰田和索尼等公司返回日本国内的利润，并且使得他们的产品在国外的销售价格更加昂贵。
As the markets become aware of such official action, they would probably magnify the extent of yen appreciation and thus promote the needed realignment.
随着全球市场意识到中国官方将采取这一行动，投资者或许会放大日元升值的幅度，进而推动全球经济所需的重新调整。
Yet Japan's real mistake was not that it allowed the yen to rise, but that it had previously resisted an appreciation for too long, so that when it did happen the yen soared.
然而，日本真正的错误不在于允许日元升值，而在于先去太长一段时间拒绝升值，因此当这发生时，日元的升值过于剧烈。
Investors fretted that the recent, rapid appreciation of the yen could harm Japan's export-dependent economy.
投资者担心近期日圆的大幅升值可能损害高度依赖出口的日本经济。
More than 60 percent of Thailand’s foreign debt is in Japanese yen and any appreciation raises the costs for paying it back.
泰国外债的60%多是以日元计价的，只要日元升值，泰国的还债成本就会随之增加。
Economists point out that an appreciation of the yen did little to help reduce America's trade deficit with Japan in the 1980s.
经济学者指出，日元升值实际上对于美国减少1980年代对日本的贸易赤字并无帮助。
One theory behind the yen's strength is Chinese purchase of Japanese government bonds and other yen assets is contributing to its appreciation.
对日元走强的一种解释是，中国购买日本国债和其它日元资产的行动正在帮助推高日元汇率。
Investors fretted that the recent, rapid appreciation of the yen could harm Japan "s export-dependent economy."
投资者担心近期日圆的大幅升值可能损害高度依赖出口的日本经济。
Though Japan suffered a lot from a big surge in the yen in the 1980s, some still call for a one-off appreciation of the yuan.
虽然1980年代日元汇率大幅上升给了日本惨痛的教训，但依然有人要求人民币一次性大幅升值。
This paper reviews the history of appreciation of the yen.
本文首先回顾了日元升值的历史。
The yen continued to firm today in Asia defying Japanese authorities who are trying to stem the recent appreciation of the Japanese currency.
尽管日本官方正努力阻止日元近期涨势，该货币今天亚洲时段还是继续走坚。
The yen continued to firm today in Asia defying Japanese authorities who are trying to stem the recent appreciation of the Japanese currency.
尽管日本官方正努力阻止日元近期涨势，该货币今天亚洲时段还是继续走坚。
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