Mr. williamson 's latest research suggests that the degree of undervaluation has fallen to almost 30 % .
威廉姆森先生的最新研究表明,人民币价值被低估的程度已经降至近30%。
This was made possible by the deliberate undervaluation of the renminbi against the dollar ; its motive was to insure against another flight of " hot money " from east asia as happened in 1997-98 .
Correcting the undervaluation is even more important for another , fundamental reason : to encourage more structurally optimal resource allocation over time .
修正人民币估值过低,更由于另一个更重要的、基本的原因:鼓励将来资源从结构上被更为优化地配置。
This is partly because of distorted expenditure statistics including undervaluation of housing services in personal consumption and inflated investment figures .
Hence by the 1980s , japan was plagued with distortions , currency undervaluation was just one .
所以到20世纪80年代,日本经济已浑身布满扭曲,日元低估只是其中之一。
Schumer 's bill would give the administration more discretion on whether to prosecute a case , but it 's still based on the untested theory that currency undervaluation is a legitimate target for countermeasures .