But eventually overcapacity leads to deflationary pressures, which typically begin in the manufacturing and real-estate sectors. 但最终产能过剩会导致通货紧缩压力,而这种压力往往会首先在制造业和房地产部门显现出来。
Over-indebtedness born of the housing boom may also contribute to deflationary pressures during the bust. 房地产繁荣引发的负债过高,还可能给萧条时期的经济带来通货紧缩压力。
Output is at potential when it does not generate inflationary or deflationary pressure. 当产出不会产生通胀或者通缩的压力,它就是潜在的。
Business sentiment in China is suffering, buffeted by deflationary pressures and rising labour and regulation costs. 通缩压力以及劳动力和监管成本的上升,正对中国企业信心造成影响。
But this will be deflationary and raise interest rates. 但这么做将造成通缩和利率升高。
Although worries about Japan-style deflation in the US are overblown, deflationary pressures are more worrisome than inflation. 尽管外界对于美国将出现日本式通缩的担忧有些过虑,但通缩压力比通胀更令人不安。
They were forced to raise interest rates in the teeth of a deflationary crisis. 面对通货紧缩危机,它们被迫提高利率。
But cautious incrementalism, ironically, risks letting the world slip ever further down the deflationary spiral. 但讽刺的是,小心谨慎的渐进主义可能会让世界更进一步地滑向通货紧缩的漩涡。
Emerging markets are in a very different cycle to the developed world now, with inflationary not deflationary pressures. 眼下,新兴市场正处于和发达国家截然不同的周期,面临的是通胀压力而非通缩压力。
Less external deflationary pressure must be offset by less inflationary pressure from domestic demand. 外部通缩压力的下降,必须通过来自国内需求的通胀压力的减轻来加以抵消。
The inflationary effect of loose monetary policy of the past was offset by the deflationary effect of globalisation. 过去宽松货币政策的通胀效应被全球化的通缩效应抵消了。
The deflationary impact of Chinese overcapacity would be felt everywhere, potentially putting the world trading system at risk. 中国产能过剩的通缩效应将在任何地方都能感受到,或许会让世界贸易体系面临风险。
China deflationary period, monetary policy can make a difference. 中国通货紧缩时期,货币政策完全可以有所作为。
Without the recycling of capital, excess savings in Asia would have been profoundly deflationary. 如果没有资本的循环,亚洲过剩的储蓄可能造成极大的通缩效应。
A severe global recession will lead to deflationary pressures. 一场严重的全球经济衰退将带来通缩压力。
Now, with inflation rising, the popular parallel is not the deflationary 1930s but the stagflationary 1970s. 如今,随着通胀不断上涨,人们流行将其与上世纪70年代的滞胀相比,而非30年代的通货紧缩。
A slow and difficult recovery, dominated by de-leveraging and deflationary risks, is the most likely prospect. 最可能出现的情况是,经济在去杠杆化和通缩风险的主导下,经历一场缓慢而艰难的复苏。
Although a housing and credit collapse would be deflationary, preempting that risk too dramatically could be inflationary. 虽然房地产和信贷的崩溃会产生通货紧缩,但是大幅度的未雨绸缪也会引发通货膨胀。
The potential deflationary impact of the eurozone sovereign debt problems is tremendous. 欧元区主权债务问题造成的潜在通缩影响十分巨大。
Excess savings in Asia, northern Europe and the petro-economies are deflationary. 亚洲、北欧和石油经济体的过度储蓄造成了通货紧缩。
Emerging markets will have a much tougher time in this deflationary world. 在这个以通缩为主题的世界里,各个新兴市场将迎来一段艰难得多的时期。
A full-fledged deflationary cycle has not started yet but you can see it in more and more industrial sectors. 一个全面的通缩周期尚未开始,但你可以在越来越多的工业部门看到这方面的迹象。
Sentiment has also been hurt by deflationary pressure and high unemployment rates. 通缩压力和高失业率也挫伤了市场人气。
The new economy does not mean we'll never have anther recession or even a deflationary spiral. 新经济并不意味着我们将永远摆脱新一轮的衰退或是避免落入通货紧缩的旋涡。
Otherwise, deflationary expectations may swiftly turn into expectations of above-target inflation. 另外,通缩预期可能会迅速变为超出目标的通胀预期。
This deflationary bias could spread through the eurozone. 这种通缩倾向可能会蔓延至整个欧元区。
But overcapacity will lead inevitably to serious deflationary pressures, starting with the manufacturing and real-estate sectors. 但是生产能力过剩不可避免地会产生严重的通缩压力,这首先会由制造业和房地产业发难。
Are rich economies heading merely for a bout of falling prices, or for a1930s-style deflationary spiral? 发达经济仅仅是进入一轮价格下跌,还是将跌入三十年代式通货紧缩的漩涡?
Current account deficits and deflationary pressure are being shifted from the US towards other high-income countries. 经常帐户赤字和通货紧缩风险正在由美国转向其他高收入国家。
The austerity that Germany wants to impose will push Europe into a deflationary spiral, he told journalists. 德国希望强制推行的紧缩政策将使欧洲陷入通缩式螺旋,他向记者表示。