China should stabilize the exchange rate of renminbi (RMB) against the US dollar to study the effect of its accumulated appreciation of close to 10 percent over the past two years, 1999 Nobel Laureate in economic sciences Robert Mundell said in Hong Kong on Wednesday.

1999年诺贝尔经济学奖获得者罗伯特•蒙代尔星期三在香港表示，中国应稳定人民币对美元的汇率以便反省过去两年来人民币累计增值逼近10%所带来的影响。

Speaking at a lecture at the Chinese University of Hong Kong, Mundell said "it is time to pause the appreciation of RMB and let it stay at a stable level."

1999年诺贝尔经济学奖获得者罗伯特•蒙代尔星期三在香港表示，中国应稳定人民币对美元的汇率以便反省过去两年来人民币累计增值逼近10%所带来的影响。

China abandoned its policy of pegging the renminbi to the US dollar in 2005 and the currency's exchange rate against the dollar has rose close to ten percent since then.

2005年，中国摒弃了人民币紧盯美元的政策。从那以后，货币对美元的汇率上涨了近10个百分点。

Refuting an argument that says the RMB is undervalued, thereby leading to the US trade deficit, the father of the euro cited figures to note that China's trade surplus against the United States only contributed a small portion of the US deficit.

为了反驳由于人民币的作用被低估而导致美国贸易逆差的观点，欧元之父援引数据证明，中国对美国的贸易顺差只占美国赤字的很小一部分。

Number megatrends in the world economy, including the unprecedented global expansion, globalization, the IT revolution, the success of the euro, the rise of China, among others, have led to "global imbalances, reflected in a huge current account deficit of the US," Mundell said.

世界经济中的数字洪流，包含了空前的全球扩张，全球化，IT革命，欧元的成功，中国的崛起。其中这些原因，就导致了蒙代尔所说的：“全球经济不平衡，并反应在美国巨额的财政赤字上”

The dollar deficit is "endemic in the dollar system" and cannot be explained by the fixed rate of the RMB or the Japanese yen, Mundell said, adding that the dollar deficit has persisted since the end of the dollar shortage in the 1950s正如蒙代尔所说，美元的赤字是”美元系统自身的问题“，不能用人民币或日元是固定的汇率来解释，再加上美元赤字早在1950年代的”美元荒“末期就已经开始了。

The 2005 Nobel Laureate in economic sciences Thomas Schelling, along side Mundell at the Chinese University of Hong Kong, lectured on nuclear nonproliferation, and Edmund Phelps, winner of the 2006 Nobel Prize in economic sciences, lectured on the importance of finance professionals in the development of modern economies.

2005年诺贝尔经济学将获得者托马斯•先令，紧接着蒙代尔在香港中文大学发表了关于防核扩散的演讲。而2006年诺贝尔经济学奖获得者菲尔普斯，发表了财务专家在现代经济发展中的重要性的演讲。

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