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金融世界 第二十一講
上一講中我們介紹了兩個重要的國際組織：International Monetary Fund－國際貨幣基金組織和 World Trade Organisation－世界貿(mào)易組織。
這兩個在二次大戰(zhàn)期間和之后相繼成立的國際組織為穩(wěn)定世界經(jīng)濟秩序發(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)后的國際經(jīng)濟也有它的黑暗面：
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際貨幣基金組織及關(guān)貿(mào)總協(xié)定是二十世紀五十、六十及七十年代貿(mào)易擴展和收入增加的原因之一，戰(zhàn)后的國際經(jīng)濟也有它更黑暗的一面。
國際金融系統(tǒng)開始出現(xiàn)問題，大部分是由于那些國際收支平衡出現(xiàn)重大問題的國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。
現(xiàn)在我們再聽一遍巴里克拉克的這段談話原文。（略）
澳大利亞昆士蘭大學(xué)經(jīng)濟系教授托尼梅金接下來談了國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，也就是為在國際收支平衡和兌換率方面遇到困難的國家提供資金。
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家籌措資金。現(xiàn)在它需要為遭受貨幣危機或流動資產(chǎn)問題困擾的國家提供資金。
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.
可以說國際貨幣基金組織扮演的是消防隊的角色。某個國家的金融市場發(fā)生“火災(zāi)”，國基組織就如同消防隊到現(xiàn)場對火情作出判斷并加以搶救。
