Now that Greece and Germany share the same currency, however, the only way to reduce Greek relative costs is through some combination of German inflation and Greek deflation.

然而，现在希腊与德国拥有相同的货币，降低希腊相对成本的唯一途径是通过某种德国通货膨胀与希腊通货紧缩相结合的办法。

youdao

The twin threats of deflation and beggar-thy-neighbor currency devaluation have been on the global agenda this year in a way perhaps not seen since 1944, when world leaders met in Bretton Woods, n.h..

通货紧缩和以邻为壑的货币贬值的双重威胁在今年已经被摆上了全球议事日程。

youdao

When the US Treasury moved in 1934 to help American silver producers by buying silver to boost the price, China's currency rose in value, leading to an outflow of silver and savage domestic deflation.

到1934年，由于美国财政部通过购买白银，帮助本国白银生产商抬高银价，中国货币出现升值，导致白银外流，国内陷入严重通缩。

youdao

Expectations that Mr. Abe's Liberal Democratic Party, which came to power in December, would implement an aggressive monetary policy to end 15 years of deflation sent the currency tumbling.

WSJ: Japanese Stock Rally Shifts To a New Gear

Expectations that Mr. Abe's Liberal Democratic Party, which came to power in December, would implement an aggressive monetary policy to end 15 years of deflation sent the currency tumbling, a boon for exporters that had been struggling with a strong yen.

WSJ: Japanese Stock Rally Shifts To a New Gear

"I'm not sure you can break Japan out of deflation with just moving the currency, " said Jan Dehn, co-head of research at Ashmore Investment Management Ltd.

WSJ: Tokyo Stocks' Rally Shifts Gears