In other circumstances, the US would benefit from the exchange-rate weakening that follows from lower interest rates –&#160;a kind of beggar-thy-neighbor competitive devaluation that would come at the expense of America’s trading partners. But, given lower interest rates in Europe and the global slowdown, the gains are likely to be small even here.
在其他环境中，美国可以从低利率导致的汇率贬值中获利——即以邻为壑式的竞争性贬值，受害者将是美国的贸易伙伴。但是，由于欧洲利率也很低，而全球经济正在减速，美���得到的好处将十分有限。