China, in particular, needs to confront the fact that the rest of the world will not allow it to run a huge trade surplus forever. An undervalued currency, which serves to subsidize China’s manufacturing industries, has been a key driver of the country’s economic growth for the last decade.
亚洲国家，尤其是中国，必须认清一个事实，那就是国际社会不会坐视其永远享有一笔巨额贸易顺差。而中国过去这些年经济增长的关键因素，则是人民币这种为补贴制造业而被刻意低估了的货币。因此人民币的大规模升值也将逐步使这种补贴措施失去效用。