Paulson said the Chinese remain committed to having a market-based exchange rate and that bi-lateral differences concern only the pace of appreciation.

保尔森说，中国继续致力于一个根据市场主导的兑换利率，那么双边的关切就仅仅是升值速度的问题了。

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And the Peterson Institute was not actually recommending a 41 per cent appreciation, but only trying to put a number on the level of undervaluation.

彼得森研究所也不是真的建议升值41%，而只是试图用数字来表示低估的程度。

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The manner and degree of China's inflation problem is hard to judge, but as prices rise, the case for exchange rate appreciation only gets stronger.

我们难以判断中国通胀问题的方式和程度，但随着物价上涨，人民币升值的理由只会变得更强。

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Their research consistently shows that givers want not only appreciation for their gifts but also a little piece of the happiness recipients get out of them, says Jeremy Utley, a teacher at the institute.

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You'd pay tax on this appreciation only when and if you chose to sell, and your rate would be (at worst) half that imposed on dividends.

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By way of comparison, China is tightly controlling its currency, and only allowing minimal appreciation against the dollar, preferring to address currency and inflationary concerns with higher bank reserve requirements and increased tariffs on imports.

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