The rationale for this rule is straightforward: If foreign investors expect that more currency depreciation will follow, they will rush out of Chinese markets to avoid further losses. Capital outflows will accelerate, financial conditions will tighten, and investment will suffer.
这一法则背后的道理相当直白：如果外国投资者预计后面还将出现进一步贬值，他们就将逃离中国市场以避免遭受进一步损失。资本外流将加速，金融状况将收紧，而投资也会因此受损。事实上，这正是中国目前所遭遇的状况。