Ricardo was not the first to challenge the mercantilist orthodoxy

李嘉图并不是第一个向重商主义正统观念提出挑战的人。

The mercantilist view began to yield, after the late 18th century, to a freetrade view

十八世纪末,重商主义的观点开始让位于自由贸易的观点。

||1: According to the mercantilist thinking that dominated European thought between the 16th and 18th centuries, poverty was socially useful. ||2: True, it was miserable for the poor. ||3: But it also kept the economic engine humming by ensuring the availability of plentiful cheap labour. ||4: Bernard de Mandeville, an 18th-century economist and philosopher, thought it “manifest, that in a free nation where slaves are not allow’d of, the surest wealth consists in a multitude of laborious poor.” That attitude was the norm.

||1:在16世纪到18世纪间占据欧洲思想界的重商主义者看来，贫困对社会是有所帮助的。||2:的确，在当时这对穷人来说不啻于一个悲惨的世界。||3:但是，贫困同样确保了充足的廉价劳动力，维持经济引擎不断高速运转。||4: 18世纪经济学家兼哲学家的伯纳德?曼德维尔（Bernard de Mandevill）认为贫困“表明，在一个不允许有奴隶存在的自由国度里，最可靠的财富蕴藏在无数勤恳的穷人手中。”这一观点在当时实属平常。

Rather like mercantilist countries in the offline realm, both companies operate policies to protect this asset.

不同于线下领域的重商主义国家，两家公司都发布政策保护这一资产——用户。

Of course, mercantilist thinking has moved on since the 18th century.

当然，重商主义思想自18世纪以来已经有了新的进展。

Instead, when a mercantilist China uses unfair trade practices to wage war on our manufacturing base, the American economy is the big loser.

而如果重商主义的中国用这些不公正的贸易惯例对我们的生产基地发动战争，美国经济将成为大输家。

Turning the yuan into a reserve currency offers China a way out of its mercantilist growth model, which has run its course.

将人民币变成储备货币给中国提供了一条道路使中国可以走出已经物尽其用的重商主义增长模式。

It was, as the authors explain, a "mercantilist world where unilateral free trade and a pacific stance were not viable options" .

就像两位作者解释的那样，这是个“单边自由贸易与和平贸易不可能存在的重商主义世界”。

And, much more than in China, the hot story in India is domestic demand. India is no mercantilist adding to global imbalances.

另外，印度的国内需求远比中国旺盛，也没有重商主义者给全球经济增加不平衡性。

First, it would only make sense if the currency were to be unpegged from the dollar, in which case the mercantilist strategy would collapse.

首先，只有人民币与美元脱钩，这才有意义，但这样的话，中国的重商主义战略就会失灵。

Although some parts of his analysis may appear too mercantilist to the Anglo-Saxon reader, his main thesis is all too convincing.

虽然他的部分分析可能对盎格鲁-撒克逊读者来说显得重商主义色彩太浓，但他的主要论点非常具有说服力。

Why? Mercantilist thinking may play a role, especially in China, which may view its huge foreign currency reserves as a form of security.

为什么呢？重商主义思想可能是其中一个因素，尤其是在中国。中国可能把坐拥巨额外汇储备视为一种安全保障。

Mr Hickey sees China's currency policy as part of "a mercantilist plan" to gain market share in the US.

希基把中国汇率政策视为在美国抢占市场份额的“重商主义计划”的组成部分。

Instead of coveting gold and silver, modern mercantilist politicians talk of promoting employment.

现代重商主义政治家不再觊觎黄金和白银，而是谈论促进就业的问题。

India is no mercantilist adding to global imbalances. It imports more than it exports, creating much needed global demand.

印度不是增加全球不平衡的重商主义者，它的进口量大于出口量，创造了十分重要的全球需求。

Thanks to their rise, more of the world economy operates under mercantilist pegged exchange rate regimes.

由于它们的崛起，全球经济的更大比重是在重商主义的盯住汇率体制下运转。

Like Germany, another structurally mercantilist powerhouse, Japan must generate demand at home.

与另一个结构上倾向重商主义的强国（德国）一样，日本必须创造国内需求。

Allowing meaningful currency appreciation while exports are flagging would run counter to its mercantilist tradition.

允许人民币在出口滑坡的情况下出现幅度较大的升值，有悖于中国的重商主义传统。

In many ways, China also behaves in a mercantilist fashion, which gives the impression it cares little about anyone else.

在很多方面，中国也以商业方式行事，这种商业方式给人的印象是很少关心他人。

Having created a dollar hoard through its mercantilist policies, China seeks to preserve the value of its hoard.

在通过重商主义政策积累了大量美元储备后，中国力求维持其价值。

That is unlikely as long as mercantilist thinking continues to dominate the renminbi debate.

只要重商主义的思维继续主导着有关人民币汇率的辩论，这种根本结构就不太可能改变。

China's essentially mercantilist approach to growth persists regardless of the rhetoric.

中国根本上的通过出口带动增长的方式基本上不理会这样的说法。

China's single-minded pursuit of mercantilist objectives produces inflation and overheating at home.

中国一味追逐重商主义目标，造成了国内的通胀和经济过热。

Mercantilist thinking demands a lower, exporter-supporting currency.

重商主义思维希望货币的汇率更低，以支持出口。

mercantilist trade policy

重商主义贸易政策