Anxiety over unconventional monetary policies and “currency wars” must not continue to dominate global policy discussions, especially given last month’s pledge by G-20 leaders not to engage in competitive currency devaluations. Instead, global leaders should work to maximize the liquidity that unconventional policy measures have generated, and to use it to support investment in long-term productive assets.
决不能让对非常规货币政策和“货币战争”的不安继续主宰全球政策讨论，特别是在上个月G20领导人作出不会参与货币贬值竞赛的承诺的情况下。全球领导人应该致力于将非常规政策手段所产生的流动性最大化并将之用于支持长期生产性资产的投资上。这一方法是将全球经济复苏引向可持续之路的唯一方法。