G20誓言利用政策工具提振全球增長
G20 policymakers vowed to adopt a range of policy tools to lift global growth and avoid currency wars, according to officials close to the talks.
據熟悉20國集團(G20)上海會議的官員們介紹，與會的政策制定者們誓言要利用一系列政策工具來提振全球增長並避免貨幣戰爭。
The final communiqué from the G20 meeting in Shanghai did not include a specific deal on using fiscal policy to stimulate growth but there was consensus that monetary policy alone was not adequate to boost global growth than had been the case before.
G20上海會議最終發佈的公報並未包含使用財政政策刺激增長的具體協議，但與以往相比，此次會議達成了僅靠貨幣政策不足以提高全球增長的共識。
“Monetary policies will continue to support economic activity and ensure price stability, consistent with central banks’ mandates, but monetary policy alone cannot lead to balanced growth,” the communiqué said.
“貨幣政策將繼續支撐經濟活動，確保價格穩定，這符合央行的使命，但貨幣政策本身無法帶來均衡的增長，”公報表示。
“There was a clear recognition that you cannot print your way out of this situation,” said one participant who asked not to be named. “There is a sense that all levers matter and increasingly so [in the case of] structural policy.”
“各方明確認識到，你不能靠開動印鈔機擺脫當前困境，”一名要求不具名的與會者說，“大家覺得所有的槓桿都很重要，結構性政策方面更是日益如此。”
Senior finance officials of several European nations and the US had played down expectations that the talks would yield any bold moves to boost global growth. But the communiqué suggested that market reaction to growth worries has been overdone.
幾個歐洲國家和美國的高級財政官員淡化了會議將產生提振全球增長的大膽舉措的預期。但公報暗示，市場對於增長擔憂的反應過頭了。
“Recent market volatility has not reflected that underlying fundamentals of the global economy,” the draft said.
“最近的市場波動並未反映出全球經濟的基本面，”公報草案表示。
China also appears to have persuaded G20 participants that it intends to communicate its economic and currency policies more clearly in future.
中國似乎也說服G20與會者相信，中國有意在未來更清楚地傳達其經濟和匯率政策。
Participants said Beijing made important progress in assuaging global concerns about the quality of its economic management with a charm offensive that included several public speeches by central bank officials and bilateral meetings on the sidelines of the G20 itself.
與會者表示，在化解全球對於其經濟管理質量的擔憂方面，中國依靠其魅力攻勢取得了重大進步，包括由央行官員發表幾場公開演說，並安排在G20會議間隙舉行了幾場雙邊會晤。
“On the issue of devaluation of the renminbi, I think we heard loud and clear that there’s no intention, no determination, no decision whatsoever to devalue the currency,” said Christine Lagarde, managing director of the International Monetary Fund.
“在人民幣貶值問題上，我想我們明確地聽到，中國沒有貶值人民幣的任何意圖、決心或決定，”國際貨幣基金組織(IMF)總裁克里斯蒂娜•拉加德(Christine Lagarde)表示。
US Treasury secretary Jacob Lew also endorsed China’s efforts to communicate its currency policy more clearly, with several central bank officials repeatedly stressing in recent days that devaluation was not on the agenda.
美國財政部長雅各布•盧(Jacob Lew)也支持中國更清楚地傳達其貨幣政策的努力。近幾天，幾名中國央行官員反覆強調貶值並不在中國的議程之上。
“I think the communication that China has done these past days has helped not just ourselves but all observers to understand that more clearly, and I think that’s very positive,” he said.
“我認爲中國過去幾天進行的溝通不僅幫助我們，也幫助所有觀察者更清楚地理解那一點，我認爲那是非常積極的，”他說。
Confusion about China’s currency policy has led to upheaval in currency and stock markets around the world in recent months.
近幾個月，對於中國匯率政策的困惑已導致全球各地匯市和股市出現動盪。
The final communiqué included stronger language than that used previously committing member countries, including China, to avoid using currency devaluations for competitive purposes: “We reaffirm our previous exchange rate commitments, including that we will refrain from competitive devaluations and we will not target our exchange rates for competitive purposes”.
比起中國等成員國之前作出承諾避免出於競爭性目的貶值貨幣時所使用的語言，最後的公報使用了更爲強有力的措辭：“我們重申我們此前的匯率承諾，包括我們將避免進行競爭性貶值，不會出於競爭性目的設定各自的匯率目標。”
