(英汉对照)全球视点：人民币汇率.doc

全球视点：人民币汇率的秋季篇 Beijing currency saga returns with a new season of drama 作者：英国《金融时报》 艾伦?贝蒂 华盛顿报道 ? Here we go again. After a brief hiatus over the summer, the Chinese currency saga is returning for its fall season. 又有戏看了。在短暂消停了一个夏季之后，有关人民币汇率的长篇故事又要进入秋季篇了。 This week, the House of Representatives’ ways and means committee will convene two hearings, one of which will question Tim Geithner, Treasury secretary. 本周，美国众议院筹款委员会(the House of Representatives Ways and Means Committee)将召开两场听证会，美国财政部长蒂姆?盖特纳(Tim Geithner)将在其中一场中接受质询。 Congress is deeply unhappy with the progress made since Beijing unpegged the renminbi from the dollar in June. 自中国政府6月份宣布放弃人民币盯住美元的政策以来，美国国会对人民币汇改的进展感到强烈不满。当时，北京方面的让步足以压下美国国会的怒火。美国财政部显然松了口气，此举使得他们得以发布被推后的半年度汇率报告。该报告再次避免了将中国列为汇率操纵国，同时也未遭到国会太过猛烈的抨击。 At the time, the concession was enough to damp down congressional ire. An almost visibly relieved US Treasury was able to publish its delayed twice-yearly currency report, which once again held back from naming China as an exchange rate manipulator, without sustaining too much fire from Capitol Hill. 但自此以后，人民币兑美元升幅尚不到1%，远小于大多数人估计的人民币被低估幅度。诚然，北京方面看来认识到了这些问题，在上周允许人民币汇率适度上浮，以配合巴拉克?奥巴马(Barack Obama)首席经济顾问拉里?萨默斯(Larry Summers)的访华。但除非白宫采取每周派萨默斯去一次中国的策略，否则仍需寻找其它途径来抑制国会的怒火。 Since then, though, the renminbi has been allowed to rise less than 1 per cent against the dollar, a small fraction of most estimates of its undervaluation. 美国国会在人民币问题上的行动一直是由参议院第三资深的民主党参议员、来自纽约的查尔斯?舒默(Charles Schumer)领导的。根据他的提案，美国可在对据信得到补贴的进口产品加征紧急关税时，援引对人民币被低估幅度的估值。本周，众议院将拿出一部相应的法案，朝事实上的立法又迈进一步。 True, Beijing did appear to acknowledge these concerns by allowing a moderate upward jump last week to coincide with the visit of Larry Summers, Barack Obama’s chief economic adviser. But unless the White House embarks on a strategy of sending Mr Summers to China every week, it needs to find ways of controlling the anger in Congress. 不过，华盛顿政坛的不确定和复杂性令舒默法案的前景扑朔迷离。首先，外界仍看不清舒默的行动有多少成分是出于严肃目的，有多少成分是演戏。人们对国会的一个普遍看法是，舒默的“圣战”在一定程度上是受其提高自身形象的欲望驱使的，他期望