G20誓言利用政策工具提振全球增长

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.

据熟悉20国集团(G20)上海会议的官员们介绍，与会的政策制定者们誓言要利用一系列政策工具来提振全球增长并避免货币战争。

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上海会议最终发布的公报并未包含使用财政政策刺激增长的具体协议，但与以往相比，此次会议达成了仅靠货币政策不足以提高全球增长的共识。

“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.

“货币政策将继续支撑经济活动，确保价格稳定，这符合央行的使命，但货币政策本身无法带来均衡的增长，”公报表示。

“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.”

“各方明确认识到，你不能靠开动印钞机摆脱当前困境，”一名要求不具名的与会者说，“大家觉得所有的杠杆都很重要，结构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.

几个欧洲国家和美国的高级财政官员淡化了会议将产生提振全球增长的大胆举措的预期。但公报暗示，市场对于增长担忧的反应过头了。

“Recent market volatility has not reflected that underlying fundamentals of the global economy,” the draft said.

“最近的市场波动并未反映出全球经济的基本面，”公报草案表示。

China also appears to have persuaded G20 participants that it intends to communicate its economic and currency policies more clearly in future.

中国似乎也说服G20与会者相信，中国有意在未来更清楚地传达其经济和汇率政策。

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.

与会者表示，在化解全球对于其经济管理质量的担忧方面，中国依靠其魅力攻势取得了重大进步，包括由央行官员发表几场公开演说，并安排在G20会议间隙举行了几场双边会晤。

“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.

“在人民币贬值问题上，我想我们明确地听到，中国没有贬值人民币的任何意图、决心或决定，”国际货币基金组织(IMF)总裁克里斯蒂娜•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.

美国财政部长雅各布•卢(Jacob Lew)也支持中国更清楚地传达其货币政策的努力。近几天，几名中国央行官员反复强调贬值并不在中国的议程之上。

“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.

“我认为中国过去几天进行的沟通不仅帮助我们，也帮助所有观察者更清楚地理解那一点，我认为那是非常积极的，”他说。

Confusion about China’s currency policy has led to upheaval in currency and stock markets around the world in recent months.

近几个月，对于中国汇率政策的困惑已导致全球各地汇市和股市出现动荡。

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”.

比起中国等成员国之前作出承诺避免出于竞争性目的贬值货币时所使用的语言，最后的公报使用了更为强有力的措辞：“我们重申我们此前的汇率承诺，包括我们将避免进行竞争性贬值，不会出于竞争性目的设定各自的汇率目标。”