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与2008年不同,2009年中国出口面临的冲击不是内部成本冲击,而是外部需求冲击。这是很难利用人民币升值减缓、出口退税率提高以及出口补贴等供给方刺激政策来缓和的——
Unlike in 2008, the impact China’s exports faced in 2009 was not the internal cost impact but the external demand shock. This is very difficult to use the RMB appreciation slowdown, the export tax rebate rate and export subsidies and other supply-side stimulus to ease -