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本帖最后由 批一啊pia 于 2010-10-20 14:01 编辑
【原文标题】Let China Manipulate its Currency---They Are Doing Us a Favor
【中文标题】阿兰·施拉姆：就让中国控制其货币吧！这是在帮美国的忙
【登载媒体】赫芬顿邮报
【来源地址】http://www.huffingtonpost.com/alan-schram/let-china-manipulate-its_b_765997.html
【译 者】 migwin
【翻译方式】 人工
【声 明】 本翻译供Anti-CNN使用，未经AC或译者许可，不得转载。
【译 文】
点击图片可查看作者详细介绍
近期，汇率一直主导着国际国币组织年会的议程。有官员谴责了中国方面汇率的不平衡。预计在11月份举行的G20首脑峰会上，汇率还会是主要议题。
但是有一个关键的问题被决策者忽略了：如果中国政府继续保持人民币过低，美国为什么要沮丧呢？
中国的优势只是在消耗上。的确，中国民众应该为他们对资源的这种滥用而感到愤怒了。但是美国从中国的错误中获益了。中国的这一政策实际上是给了美国消费者津贴。
中国的汇率政策其实是给我们带来好处。人民币不值钱了，那美国人购买的中国货就更便宜，这就使美国更富而中国更穷。相反，美元贬值了，这就促使他人来买我们的产品和服务，这等于我们打纳税人在给别人津贴。
举个例子，正因为有了中国的廉价衣服，美国的劳动力才被解放到更重要的领域。如果我们自己生产衣服来抵制廉价的中国货，美国的消费者就要付更多的钱。的确这回增加本国的就业，可是我们变穷了。
如果低货币政策有利了，我们可以使美元贬值50%，从而迅速在竞争中占取优势。
让自由市场设定汇率对两国来讲是最好的政策。强势美元能为美国带来最大的利益。只是通过降低美元来生硬地刺激出口并不是挣钱和增加就业的好办法。
另外，贸易的目的是为了服务消费者，不是为了增加就业。终极目标是设备的高效使用，而不是生产该设备。如果中国接管了制造业怎么办？那我们就强化更有特色、更高效的产品和服务，最终我们还是获利更多。
正如乔治梅森大学的一位教授说，低货币只是增加贸易，而不是改善贸易。重要的不是我们花费了多少美元，而是我们买到了什么。这一点对于理解经济而言是至关重要的。
【原文】
Exchange rates dominated the agenda at the IMF's annual meeting recently. Officials blamed exchange rate imbalances on everything from China's undervaluation of the Yuan to unilateral currency intervention by Japan. Currencies will likely dominate the agenda again when G-20 leaders meet in November.
But the key question has been ignored by policy makers: Why should Americans be upset if the Chinese government keeps the Yuan undervalued?
The standard explanation is that China's cost advantage, the product of government policy, is artificial. And that is true. Indeed, Chinese citizens should resent this wasteful abuse of their resources. But America benefits from the policy errors of Beijing: this policy is effectively a Chinese subsidy given to American consumers.
This manipulation of the currency by China is in our benefit, because a weak Yuan makes Chinese goods cheaper for American consumers, making us wealthier and China poorer. Conversely, a weak Dollar enables others to buy our goods and services at low prices, subsidized by American taxpayers.
By buying clothing from China, to use one example, American labor and capital are freed to be employed in other, more productive fields. If we prevent this Chinese subsidy being gifted to us and reject cheap Chinese goods, American consumers will pay higher prices. There may be more jobs here, but we will all be poorer.
If a weak currency is somehow advantageous, we could devalue the dollar by 50% and immediately become so much more competitive. Ofcourse we will also be giving away valuable goods and services for less than what they are worth.
Letting free markets set the exchange rate is the best policy for both countries. But in its absence, a strong dollar is in the best interests of the United States, even if the Chinese fail to grasp this. Artificially stimulating the country's exports by devaluing the dollar is not a good way to achieve prosperity or create jobs.
Moreover, the purpose of trade is to serve consumers, not create jobs. The ultimate goal is the productive use of equipment, not the manufacturing of that equipment. So what if the Chinese are taking over manufacturing? Specializing in the production of other goods and services in which we are more efficient than the Chinese, we Americans will be much better off.
As Professor Donald Boudreaux from George Mason University Economics department notes, devaluation creates more trade, but not better trade. It doesn't matter how many dollars exchange hands, but what they buy, because voluntary exchange is not sum-zero. It is positive for both sides, and this concept, although not always intuitive, is crucial to understanding economics. |
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发表于 2010-10-20 13:53
