When a country's wage costs rise too quickly, it can no longer recover lost competitiveness through a lower exchange rate.

当一国工资成本上涨过快的时候，它已然不能通过令本币贬值来重获失去的竞争力。

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If the market exchange rate is higher or lower than the iPod-derived exchange rate, then the market theoretically has gone too far.

如果市场汇率高于或低于这种通过购买iPod折算出的汇率，那么理论上来说汇市在某个方向上可能走得太远了。

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The UK must now shift to an economy with lower real house prices, higher savings, a smaller current account deficit and a weaker real exchange rate.

英国经济现在必须转向更低的实际房地产价格、更高的储蓄、更小的经常账户赤字，以及更加疲软的汇率。

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Not surprisingly, many companies would dearly love to lock in a lower exchange rate.

ECONOMIST: Foreign investment

"At a stroke, Greece can lower its real exchange rate and therefore be more competitive, " Mr. Bootle says.

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So if we have tax reform, lower the corporate tax rate, and require the companies to provide healthcare coverage in exchange for the lower tax rate this really would help.

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