When the PBoC sells dollars from its reserves to supporttheexchangerate, the central bank balance sheet shrinks and China's money supply contracts.
当中国央行抛售其储备的美元以支撑人民币汇率时,央行的资产负债表缩水,中国的货币供应量也出现收缩。
2
As China's experience suggests, keeping theexchangerate weak in support of export-led growth becomes harder to sustain over time.
中国的经历表明,随着时间的推移,通过压低币值来扩大出口的道路将越来越难以维继。
3
The SDR was created in 1969, during the Bretton Woods fixed exchange-rate system, because of concerns that there was insufficient liquidity to support global economic activity.