储备货币

• According to professor stiglitz , there is an increased perceived risk associated with the us dollar as a reserve asset , and a growing dissatisfaction in developing countries with the global reserve system . he believes that china will have to play a central role in reforming these systems
  史迪格里兹教授表示，发展中国家意识到以美元作储备货币的风险，对全球储备制度亦日益不满。他认为，在改革此储备制度的过程中，中国将担当重要角色。
• There is a possibility that in the fullness of time , when the mainland develops into one of the major economic powerhouses of the world , the renminbi may even become a reserve currency , just like the us dollar , the euro and to a lesser extent the yen are now , and an anchor currency for the region
  现时美元欧元甚至日圆是世界上的储备货币。当中国内地发展为全球的其中一个经济强国后，人民币可能同样会成为储备货币，以及成为区内的支柱货币。
• On this basis , the text researches the present situation issue of rmb under the cooperative pattern of east asian currencies : probing into self - realization of contagious devaluation " . after one currency devalued in area , especially as one of international reserve currency japan yen devaluing , it can damage growth and stability of domestic economy if rmb continuously maintains to peg the u . s . dollar . and the current bilateral swap arrangement in east asia further falls china into predicament
  在此基础上，重点研究了当前东亚货币合作格局下人民币的处境问题：探讨了东亚货币危机“传染性贬值”的自我实现性；当区域内某一货币贬值后，特别是作为国际储备货币之一的日元贬值后，人民币继续维持钉住美元的汇率安排会损害国内经济的增长与稳定；而现行的东亚双边货币互换合作机制的缺陷，进一步陷中国于困境。
• I will not go into how this imbalance might in the end be corrected , or the likelihood of the process being a destabilising one . these are subjects that have been discussed at length in international financial forums . they are particularly relevant to the euro area , given the role of the euro as the other prominent reserve currency
  我不会谈失衡问题最终可怎样解决或解决过程中可能造成的不稳定，这些课题在多个国际金融论坛的场合已被详细讨论由于欧元是另一种主要储备货币，这些课题尤其与欧元区有关。
• This convergence will be reflected in some appreciation in what economists call the real effective exchange rate of the renminbi against other currencies . this will take the form of appreciation in the nominal exchange rate observed in the spot market , most notably the one against the us dollar , currently the main reserve currency of the world
  价格融合将会使经济学家所指人民币兑其他货币的实质有效汇率上升，这调整可以透过名义汇率，尤其是兑美元现时全球的主要储备货币的汇价在现货市场上升。
• The paper gives a brief account of the long history of reserve currencies and draws attention to the interesting phenomenon that , as in the case of the position of a country being the superpower of the world , it seems to be a " natural cycle " of around 100 years long
  这篇文章从哲学角度对全球储备货币的可持续性作出了一些很有意思的回顾。文章扼要述了储备货币的悠长历史，并特别提及一个有趣的现象，就是储备货币如世界超级大国一样，其地位的自然周期似乎是100年左右。
• And some useful conclusions have been drawn from the analysis , such as : the foreign exchange rate risk has dramatically declined after the application of portfolio among different reserve management ; the portfolio average revenue is far higher than the investment revenue of only holding us dollar asset
  经过实证分析得出以下结论：进行不同储备货币的投资组合，可以大大降低我国外汇储备面临的汇率风险；在相同风险下，投资组合的平均收益要远远高于单一持有美元的投资收益。
• At the margin extra demand has come from those who think dollars indeed any money backed by nothing more than promises to keep inflation low a decidedly risky investment mainly because america with the world ' s reserve currency has been able to create and borrow so many of them
  在此下跌情况下，导致金价上扬的额外需求来自于那些认为美元或者任何一种依靠抑制通胀的许诺来支撑的货币无疑是一种高风险投资的人，主要因为美国拥有美元这一世界储备货币，而且一直能够制造和借来很多美元。
• But , if indeed there is such a natural cycle , reflecting the intuitively inevitable re - balancing of economic power , having regard to the different growth , savings and investment rates of the major economies , the implications for the foreign exchange market in the next twenty years or so are quite interesting
  不过关于储备货币，若的确有这种自然周期存在，即是说基于主要经济体系不同的增长率储蓄率及投资率，它们的经济实力无可避免地会出现调整，那么这种现象对外汇市场在未来20年的影响便相当值得留意。