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以1985年9月美元贬值为契机,亚洲“四小”相继走出了在1985年所陷入的严重的经济衰退,重新恢复其经济发展势头。它们利用美元贬值、日元、马克升值的良机,大力扩充出口,出口显著增长,如台湾、香港和南朝鲜1986年出口总额比1985年分别增长了29.5％,18.6％和14.7％,1987年的增长势头仍十分猛;同时,它们由于对外贸易的顺差扩大,外汇储备激增,各自的货币相对于美元不断升值,尤以台湾和南朝鲜最为显著。本文将着重分析亚洲“四小”货币升值的原因及其对经济发展的影响。
Taking the devaluation of the U.S. dollar in September 1985 as a turning point, the “four small” ones in Asia have successively stepped out of the serious economic recession that plunged in 1985 and regained their momentum of economic development. In 1986, their total export volume in Taiwan, Hong Kong and South Korea increased by 29.5%, 18.6% and 14.7% respectively compared with that in 1985; in 1987, the total exports of Taiwan, Hong Kong and South Korea increased by 29.5%, 18.6% and 14.7% respectively over the previous year. At the same time, due to the widening surplus in foreign trade and the surge in foreign exchange reserves, their currencies have been rising relative to the U.S. dollar, especially in Taiwan and South Korea. This article will focus on analyzing the reasons for the “four small” currencies in Asia and their impact on economic development.