Managing the exchange rate becomes much more difficult when capital is free to come and go as it pleases. But it is not impossible – as long as policymakers understand the critical role played by the exchange rate and the need to subordinate capital flows to the requirements of competitiveness.
对于做出转变的国家而言，选择更为困难。当资本自由流通之时，管理汇率就变得更为困难。但是这并非没有可能，只要决策者理解汇率所扮演的重要角色以及把资本流动置于竞争力的要求之下就可以了。