In a world of competing devaluations, gold keeps driving higher.

在一个竞相贬值的世界里，金价就会继续一路攀升。

Currency devaluations are the moment when protectionism gets nasty.

保护主义最严重的症状就是货币贬值。

The risk, as in the 1930s, is of "beggar-thy-neighbour" devaluations.

风险就是20世纪30年代的以邻为壑的货币贬值。

A recent slide in the yuan has also raised fears of competitive devaluations.

近期的人民币贬值更引发了一场对竞争性贬值的恐慌。

Recent devaluations of some Latin American currencies have dented their profits.

近期，拉美地区一些货币的贬值已经拖累倒了它们的收益。

In the 1930s countries opted for tariffs not just "beggar-thy-neighbour" devaluations.

1930年代一些国家曾选择关税而不只是“损人利己”地进行货币贬值。

Only licensed exporters consistently benefit from repeated devaluations of the currency.

只有拥有经营执照的出口商才能从不断贬值的货币中稳定获利。

Everybody can't devalue at once. And competitive devaluations won't change China's behavior.

每个人不可能立即贬值本国货币，同时竞争性的货币贬值不会改变中国的行为。

Yet if China devalued, a further round of competitive devaluations across Asia would redouble the turmoil.

若果当时中国将人民币贬值，进一步的恶性贬值风潮将会使得亚洲市场更加混乱。

With currency tensions rising, some fear a repeat of the competitive devaluations of the Great Depression.

由于货币紧张局势升温，部分人士担心会重现大萧条时期各国货币竞相贬值的情景。

China's devaluations put pressure on rival exporters to do the same or risk losing their competitiveness.

中国货币的贬值给同样出口的竞争对手带来了压力，如果他们不同样贬值货币，就可能会失去竞争力。

If investors expect devaluations every three months, they argue, they will buy dollars and wait for the next one.

如果投资者们预期到货币贬值会每三个月发生一次，他们就会购买美元并且等待下一次贬值的到来。

Costs are likely to rise as currency devaluations occur in many countries as an unavoidable side effect of the crisis.

费用很可能随着许多国家货币贬值不断上升，而货币贬值是危机带来的不可避免的副作用。

Current economic pressures have led to wide-scale devaluations of assets such as commercial mortgage-backed securities.

当前的经济压力已经致使类似商业住房抵押贷款证券这类金融资产大幅贬值。

This conference, however, was unable to halt a rash of currency devaluations, tariff increases, and quota arrangements.

然而这次会议并未能制止货币贬值，提高关税以及实行配额制等情况的连续发生。

This paper analyzes the effects of currency devaluations on international trade under the framework of general equilibrium.

本文在一般均衡框架下分析货币贬值对国际贸易的影响。

Brazil's history is littered with accidents relating to weakness in the external accounts, high inflation and devaluations of the currency.

在巴西的历史上，与外部账户疲弱、高通胀和货币贬值相关的事件比比皆是。

Foreign deals allow Chinese companies to move money abroad with the blessing of Chinese officials while avoiding potentially painful devaluations.

通过进行海外交易将资金转移到海外的做法，可以得到中国官方的首肯，同时也让中国企业避开了有可能带来麻烦的货币贬值。

A country prone to sharp devaluations of the currency must now cope with the real's strength: it has gained about 4.2% against the dollar this year.

一个倾向于发生剧烈货币贬值的国家现在必须应对现实的强势：今年其货币兑美元上升了4.2%。

The world's big economies are not deliberately indulging in "beggar thy neighbour" devaluations and protectionism is not poised for an ugly revival.

世界大型经济体没有刻意推行“以邻为壑”的贬值政策，保护主义也没有以丑陋的面目卷土重来。

China unexpectedly made small devaluations in its currency in early August and in late December, both times leading to drops in world stock markets.

8月初和12月末，中国出人意料地让人民币小幅贬值，两次都引发了全球股市的下跌。

This means that both the US and eurozone countries suffer from currency intervention and competitive devaluations elsewhere, with little room to adjust.

这说明，美国和欧元区国家受到其它地区汇率干预和竞争性贬值的影响，没有多大的调整空间。

In the 1980s and 1990s, many Italian manufacturers expanded abroad, exploiting the repeated devaluations of the Italian lira to undercut prices of foreign rivals.

在1980年代- 1990年代，许多意大利制造商在国外扩张，利用意大利里拉反复贬值的优势降低价格，削弱外国竞争对手。

Devaluations and revaluations are the main ways of changing exchange rates in a nearly fixed-rate system, a system where the rate is usually, but not always, fixed.

升值和贬值是改动了近固定汇率制度的汇率，一个系统，通常的速度，但并不总是固定的主要途径。

Devaluations increase the costs in local currencies of all imported health expenditures: medicines, autoclaves, syringes, X-ray machines and other hospital equipment.

贬值提高了所有进口卫生开支——药品、灭菌锅、注射器、X光机和其它医疗设备的当地货币成本。