If they should decide to reduce the current account surplus, should they allow faster appreciation of the nominalexchangerate or overheating and faster inflation?
如果他们决定减少经常账户盈余，那么他们是否应该允许名义汇率更快上升，或是经济过热和通胀加速？
2
The economic collapse, when inflows of capital halt, can be very painful - even more so if a fixed exchangerate (or currency union) demands a period of falling nominal wages and prices.
Therefore to achieve a sound balance of payment is to seekequilibrium exchangerateof a currency and then to adjust nominalexchange rateto a stable equilibrium level by all means.