Today, the principal source of international economic disorder is made in China, owing to factions inside its government that hope to avoid a more-rapid appreciation of the renminbi’s value. I cannot judge the strength of these factions, or whether they know that the falling US current account deficit and dollar may lessen the urgency of adjustment in the rest of the world, but not in China.
今天，国际经济混乱的主要发源地则是中国。其原因是政府中希望避免人民币尽快升值的那部分势力。我不能判断这些人的影响力（究竟有多强），也不清楚他们是否知道美国经常项赤字的下降和美元的贬值可以减轻除中国以外的世界其他国家做出调整的紧迫压力。