Who's winning the currency wars?

谁是货币战的赢家？

youdao

The market must fear this will cause a sharp escalation in the currency wars.

市场真正担心的是令这场货币战急剧升级。

youdao

Between the Fed's QE2, the ECB's stubbornness and a new round of currency wars as countries fight each other for export growth, the path out of the recession remains unclear.

在美联储的次轮定向宽松，欧洲央行的顽固不化，以及各国为争夺出口增长而大打货币战的背景之下，走出衰退的路径仍不清晰。

youdao

That angers other exporters with stronger currencies, and it can lead to so-called currency wars.

VOA: special.2010.11.13

"There is no competitive devaluation, there are no currency wars, " said Sergie Storchak, Russia's deputy finance minister.

BBC: What is a currency war and are we heading for one?

Whether all-out currency wars (in the form of trade protection) will emerge in 2011 is harder to tell.

ECONOMIST: A bearish perspective on the market in 2011

Even so, there are good reasons to believe that talk of currency wars is, for the moment, just talk.

WSJ: There's a Feeling of Instability Bubbling Up