As Europe's banking crisis deepens and the US economy stalls, most discussions of how to stabilise national finances assume only two options: “internal devaluation” (shrinking the economy by cutting public spending) and currency devaluation. Both aim to make countries more competitive: the first using unemployment to lower wages and imports, the second lowering export prices.
在欧洲银行业危机不断深化、美国manbetx20客户端下载 陷入停滞之际,大多数围绕如何稳定国家财政的讨论,都只提出了两种选择:一是“内部减值”(即通过削减公共支出来缩小manbetx20客户端下载 规模);二是货币贬值。这两种方法的目的都在于提高本国的竞争力:前者以牺牲就业来降低工资水平并减少进口;后者则降低了出口价格。
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