America absorbs Chinese imports, pays China in dollars, and China holds dollars, amassing $2.5 trillion in foreign-exchange reserves, much of it held in US Treasury securities.
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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。
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.
把东西卖给中国的越南出口商要承担一定的汇率风险：他用本地货币越南盾支付自己的劳工，但收到的付款却是美元。
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