French and German exporters at least agreed on a more modest goal: a single currency to end exchange-rate risks within the internal market, including competitive devaluations.

法德两国的出口商至少就一初步目标达成一致：在内部市场中利用统一货币消除汇率风险，包括竞争性贬值在内。

youdao

Owing to the change of internal and external economy surrounding, "Super-fixed" exchange rate in China already influences our country's economy.

由于国内外经济环境的变化，我国“超稳定”的汇率已经给我国经济带来一些负面影响。

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Even if a floating exchange rate is used to achieve external balance, this still leaves the problem of achieving internal balance.

浮动汇率即使是用来实现外部平衡，还有许多有待实现内部平衡的问题。

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Another way of putting it is that a flexible exchange rate makes sticky internal prices and wages flexible to the rest of the world.

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Only by tightening internal liquidity and allowing the real exchange rate to fall will competitiveness be restored as the economy will shift resources to the tradable sector.

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As with an external deficit, adjustment to a related internal deficit is ultimately the same under any exchange rate regime.

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