Against this background, it is easy to see why many anticipate a tactical adjustment in China's currency policy, from appreciation to depreciation. Such a move would certainly seem appealing as a way to provide temporary relief from downward pressure on growth and prices.
在此背景下，很容易理解为何很多人预测中国货币政策将进行战术性调整，从升值转为贬值。这一转变当然是有吸引力的做法，可以缓解增长和物价下行压力。但有三个理由认为这一做法可能适得其反。