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本帖最后由 一古斋主 于 2011-9-27 15:33 编辑
【中文标题】面对欧债：中国见死不救
【原文标题】China Rebuffs Hopes for Bailout
【登载媒体】华尔街日报
【来源地址】http://online.wsj.com/article/SB ... 92851514658060.html
【译 者】 我思我走
【翻译方式】 人工
【声 明】 欢迎转载，请务必注明译者和出处 bbs.m4.cn。
【译 文】
WASHINGTON—China to Europe: Don't expect a bailout from us.
That was the message delivered by a number of Chinese officials during meetings at the International Monetary Fund, where China was widely seen as an answer to the euro zone's problems, either as a purchaser of European debt or as a country that could further goose its economic growth rate.
来自华盛顿——中国对欧洲说：别指望任何帮助
这是相当一批中国官员在国际货币基金组织年会上传达的信息，中国被视为解决欧元区危机的法宝，因为中国不仅仅是欧洲的债主，也是可以大大提高经济增长率的国家。
Gao Xiqing, vice chairman, president of China Investment Corp., participates in a panel discussion in Washington Saturday.
"We can't just go save someone," said Gao Xiqing, president of China Investment Corp., China's huge sovereign wealth fund. "We're not saviors. We have to save ourselves," he said at a weekend panel discussion
If Europe decided to issue euro-zone bonds—debt guaranteed by all euro-zone members—CIC would consider becoming a purchaser, he said afterwards. "If it has a risk profile that fits into our allocation, we'll buy some," Mr. Gao said. "But don't expect us to buy more than our risk appetite would take."
中国超级主权财富基金中投公司的副总裁高西庆在周末的小组讨论时说：“我们不可能简简单单地救一个人，我们不是救世主，我们得救自己。
但是之后，他说到：如果欧元打算发行欧元区债券，一种可以获得所有欧元区成员保证的债券的话，中投公司将会考虑购买一些。如果在我们的风险配额以内，我们可以考虑，但是别指望我们会购买超出我们风险承受能力以外的债券。
That appeared to rule out CIC buying debt from Italy, Greece and other troubled euro-zone nations that are having the toughest time finding buyers.
Chinese central banker Zhou Xiaochuan was just as adamant that China shouldn't be expected to boost its growth rate in an unsustainable fashion to help out the global economy.
Currently China is growing at roughly a 9% annual pace. He said that growth of somewhere between 8% and 10% was a "reasonable expectation."
"Some people may have an irrational hope that the higher the growth, the better," he said at a Saturday news conference. But growth rates of 15% or higher—"that's not realistic," he said.
这似乎是中投公司购买意大利、希腊这些深陷债务危机的欧元区国家的债券时所采取的原则。这些国家要捱过痛苦的时光去寻找买主。
中国央行行长周小川是以下观点的坚定支持者：中国不应该在不可持续的情况下强力拉升其经济增长率以拯救世界经济。
现在中国经济正以约为9%的增长率增长。他认为增长率维持在8%~10%，是合理的区间。
“一些人可能对增长率有不合理的过高预期，但是15%确实是绝无可能的”，他在星期六新闻发布会上所说。
During the 2008-2009 financial crisis, China boosted spending by near 11 trillion yuan (about $1.7 trillion in today's dollars), which helped keep its growth above 9%, and powered the purchase of imports, particularly commodities. But another big stimulus plan is unlikely. That's because China sees inflation as a bigger threat than inadequate growth, and also because China worries that a large percentage of the loans made during the stimulus surge may go bad, saddling the government with a debt problem.
在2008-2009金融危机期间，中国扩大11万亿人民币支出（按目前比价约为1.7万亿美元），以支持超过9%的经济增长率，并且扩大进口，尤其是商品进口。但是另外一个刺激计划没有执行。因为中国遭遇了不正常的经济增长最大的威胁通货膨胀。同样，中国担心刺激政策大举期间造成大量不良贷款，又让政府陷入债务危机。
Mr. Zhou, governor of the People's Bank of China, also gave no indication that the crisis would lead to a change in China's currency policy. Since it allowed the yuan to float somewhat in June 2010, the yuan has appreciated at a rate of about 5.5% a year against the dollar.
IMF Managing Director Christine Lagarde urged China to let its currency strengthen more swiftly as a way to boost imports from the rest of the world. "A little bit of currency appreciation might help," she said.
中国人民银行行长周小川，也没有任何关于危机将改变中国现行政策的暗示。自从允许人民币在2010年6月有限浮动后，人民币在那一年对美元升值5.5%。
IMF总裁克里斯汀娜•拉加德敦促中国采取更加灵活的货币政策以推动向世界其他国家的进口。“小幅升值都可能有效”。
At the very least, Mr. Zhou said, China wasn't likely to halt the rise of its currency as it did during the 2008 crisis, when it feared that a stronger yuan would further cut into exports.
He said 2008 was a special case where "international considerations may have let us put some calculations in our policy making." Current economic woes weren't of that magnitude, he said.
最后，周小川说，中国不会像08年危机时不允许货币升值，当时因为担心强势人民币会导致出口量大幅削减。
他提到08年是一个特例，“因为当时国际因素是我们制订政策的重要考量。而现在的经济悲剧不会那么重要。” |
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狗仔卡
发表于 2011-9-26 21:45
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楼主
发表于 2011-9-27 11:22
