Answering this question requires, first and foremost, an understanding of the costs and benefits of various exchange-rate systems. The International Monetary Fund was established 70 years ago to manage an “adjustable peg” system – a hybrid system in which exchange rates were usually fixed to the US dollar, but could be adjusted occasionally to improve the country’s competitive position in export markets.
要回答这一问题，最重要的是理解不同汇率制度的利弊。七十年前，国际货币基金组织（IMF）之所成立，是为了管理“可调整的盯住”制度。这是一个混合制度，汇率通常情况下与美元保持固定汇率，但偶尔也可以调整以改善一国在出口市场中的竞争力。