上一講中介紹的國(guó)際貨幣基金組織和世界貿(mào)易組織為穩(wěn)定世界經(jīng)濟(jì)秩序發(fā)揮了重要的作用,但是它們卻無法解決戰(zhàn)后國(guó)際經(jīng)濟(jì)出現(xiàn)的全部問題。
金融世界 第二十一講
國(guó)基組織與世貿(mào)組織 (二)
上一講中介紹的國(guó)際貨幣基金組織和世界貿(mào)易組織為穩(wěn)定世界經(jīng)濟(jì)秩序發(fā)揮了重要的作用,但是它們卻無法解決戰(zhàn)后國(guó)際經(jīng)濟(jì)出現(xiàn)的全部問題。
上一講中我們介紹了兩個(gè)重要的國(guó)際組織:International Monetary Fund-國(guó)際貨幣基金組織和 World Trade Organisation-世界貿(mào)易組織。
這兩個(gè)在二次大戰(zhàn)期間和之后相繼成立的國(guó)際組織為穩(wěn)定世界經(jīng)濟(jì)秩序發(fā)揮了重要的作用。但是澳廣金融節(jié)目主持人巴里克拉克說,戰(zhàn)后的國(guó)際經(jīng)濟(jì)也有它的黑暗面:
While the IMF and the GATT, created during and after World war II, were part of the explanation for trade expansion and income growth in the 1950s, 60s and 70s, there was a darker side to the post-war international economy.
Problems began to develop with the international financial system, caused, in large part, by the failure of countries experiencing fundamental balance of payments problems to devalue or revalue their currencies.
Also, the US dollars which had been in scarce supply in the 1940s became all too available in the 1960s, to the point at which the world was 'awash with dollars'. The dollar's value vis a vis other currencies was now being challenged.
It was essentially this challenge to the core currency which led to the breakdown of the Bretton Woods fixed exchange rate system in the period 1971 to 1973.
巴里克拉克在談話中用了這樣幾個(gè)詞:
1 devalue 貶值
2 revalue 調(diào)整幣值
3 vis-a-vis 相比
4 awash with dollars 美元泛濫
下面我們分段聽一遍他的這段談話和中文翻譯:(英文略)
盡管在二次大戰(zhàn)期間和之后成立的國(guó)際貨幣基金組織及關(guān)貿(mào)總協(xié)定是二十世紀(jì)五十、六十及七十年代貿(mào)易擴(kuò)展和收入增加的原因之一,戰(zhàn)后的國(guó)際經(jīng)濟(jì)也有它更黑暗的一面。
國(guó)際金融系統(tǒng)開始出現(xiàn)問題,大部分是由于那些國(guó)際收支平衡出現(xiàn)重大問題的國(guó)家沒能將其貨幣貶值或或?qū)胖底髦匦抡{(diào)整。
另外,在四十年代供不應(yīng)求的美元到了六十年代就變得供過于求,甚至到了美元在整個(gè)世界泛濫的地步。美元與其它貨幣的比值現(xiàn)在受到了挑戰(zhàn)。
正是這種對(duì)核心貨幣的挑戰(zhàn)導(dǎo)致了布雷頓森林固定匯率制在1971到1973年的垮臺(tái)。
現(xiàn)在我們?cè)俾犚槐榘屠锟死说倪@段談話原文。(略)
澳大利亞昆士蘭大學(xué)經(jīng)濟(jì)系教授托尼梅金接下來談了國(guó)際貨幣基金組織功能上的變化:
The IMF basically had to reinvent itself with the breakdown of the Bretton Woods, for which it was established. In the 1970s and 80s it was seeking out a new rationale for its existence and , more recently, it's taken on a role more akin to the traditional role that it had, and that is to arrange funds for countries experiencing difficulties with the balance of payments and exchange rate.
梅金教授說,隨著使它誕生的布雷頓森林貨幣體制的崩潰,國(guó)際貨幣基金組織必需重新確立自己的地位。在一九七十和八十年代,它不斷為自己的存在尋求新的依據(jù)。近些年它又扮演起更象它傳統(tǒng)上曾扮演過的角色,也就是為在國(guó)際收支平衡和兌換率方面遇到困難的國(guó)家提供資金。
But the nature of its activities now has changed quite significantly from what it used to be. It used to be the case that the IMF had to arrange funds to economies that could not sustain exchange rates at the given fixed levels, now its role is to provide funds to countries that have experienced currency crises, and economies experiencing liquidity problems.
但是國(guó)際貨幣基金組織工作的性質(zhì)與過去相比卻有了巨大的變化。過去它需要為那些無法把貨幣比率維持在商定的固定水平的國(guó)家籌措資金。現(xiàn)在它需要為遭受貨幣危機(jī)或流動(dòng)資產(chǎn)問題困擾的國(guó)家提供資金。
It plays the part of a fire rescue team, if you like. There's been a firestorm in the financial markets of an economy and the IMF is akin to the fire brigade, they're coming along and they diagnose the situation and apply remedies.
可以說國(guó)際貨幣基金組織扮演的是消防隊(duì)的角色。某個(gè)國(guó)家的金融市場(chǎng)發(fā)生“火災(zāi)”,國(guó)基組織就如同消防隊(duì)到現(xiàn)場(chǎng)對(duì)火情作出判斷并加以搶救。
梅金教授在談話中使用了這樣幾個(gè)英語詞匯:
1 reinvent 徹底改造,重新確立
2 rationale 合理性,依據(jù)
3 akin 類似的
4 liquidity 流動(dòng)資產(chǎn),清償債務(wù)能力
接下來我們?cè)侔寻拇罄麃喞ナ刻m大學(xué)梅金教授的這段談話連起來聽一遍。(略)
盡管國(guó)際貨幣基金組織不斷遇到金融危機(jī)的國(guó)家伸出援手,在幫助這些國(guó)家渡過難關(guān)方面發(fā)揮積極的作用。但它采取的方式也受到一些經(jīng)濟(jì)學(xué)家的批評(píng)。美國(guó)密執(zhí)安大學(xué)的克雷寧教授對(duì)國(guó)基組織在一九九十年代的亞洲金融危機(jī)中采取的行動(dòng)就提出了看法。他說:
IMF advice has been all too uniform across countries. In other words, countries vary a great deal. Some of them really should have a Keynesian expansionary type policy, rather than contractionary type policy, while the IMF always places the same kind of requirements on all countries. By the way, I get the feeling that this is changing, in other words that the IMF management is changing its view about macro-policies and we will see greater variety in its recommendations now.
下面我們聽一遍克雷寧教授談話的中文翻譯:
克雷寧教授說,國(guó)際貨幣基金組織對(duì)各國(guó)提出的建議總是一成不變。換句話說,各國(guó)的情況有很大的不同,一些國(guó)家實(shí)際上需要的是凱恩斯式的擴(kuò)張性金融政策而不是收縮性的政策,但國(guó)基組織總是對(duì)所有國(guó)家都提出同樣的要求。不過我感覺到這種情況正在發(fā)生變化,也就是說國(guó)基組織的管理層正在改變他們對(duì)宏觀經(jīng)濟(jì)政策的觀點(diǎn),我們現(xiàn)在將會(huì)看到它提出更多不同的建議。
接下來我們?cè)俾犚槐榭死讓幗淌谡勗挼脑?。(略?
在節(jié)目的最后,我們?cè)購(gòu)?fù)習(xí)一下這一講中遇到的一些英文詞匯:
1 devalue 貶值
2 revalue 調(diào)整幣值
3 vis-a-vis 相比
4 awash with dollars 美元泛濫
5 reinvent 徹底改造,重新確立
6 rationale 合理性,依據(jù)
7 akin 類似的
8 liquidity 流動(dòng)資產(chǎn),清償債務(wù)能力
各位朋友,這次由澳洲廣播電臺(tái)中文部為您制作的金融世界節(jié)目到這里就結(jié)束了。在下次節(jié)目中我們要繼續(xù)為您介紹 World Trade Organisation, 也就是世界貿(mào)易組織。