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英语翻译The more fundamental risk is that breaking the yuan peg

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英语翻译
The more fundamental risk is that breaking the yuan peg would shatter faith in China's currency stability,with big consequences for the mainland economy.Stanford University economist Ronald I.McKinnon argues China's dollar overhang is so huge that dollar-selling in China might feed on itself.Beijing might have to revalue upwards not just once,but several times ----with dire results for exports and eventually domestic demand and prices."Once people get the idea the yuan will always be higher next year,you get intense deflationary pressur,"McMinnon says,"This is exactly what happened to Japan 10 or 15 years ago",when Tokyo strengthened the yen at U.S.urging.
求英语实力的自己翻译,翻译软件的采用不了,辛苦了!
人民币与美元固定的汇率遭到破坏将会影响到中国的货币稳定,从而给中国大陆的经济造成严重的后果,这将是致命的风险.斯坦福大学的经济学家 Ronald I.McKinnon 认为中国的美元储备如此之高已经超过自身的承受能力.因此北京不止一次的改变汇率,造成了出口成本价格的提高和国内通货膨胀的严重后果.,McMinnon 解释道这恰恰和日本10到15以前所经历的通货紧缩的压力时希望紧盯美元的汇率变动的现象是很类似的,一旦人们认为人民币汇率将会一年比一年高的话,通货紧缩的压力将会表现的更加强烈.
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