全球經濟面臨通縮和貿易減速風險
The world economy is at risk of slipping into a deflation trap and faces a historic drop in global trade that should serve as a wake-up call for governments around the world, two leading economic institutions have warned.
兩大經濟機構警告稱，世界經濟面臨着陷入通縮陷阱的風險，同時全球貿易出現歷史性減速應該給世界各國政府拉響警鐘。
The International Monetary Fund warned yesterday that a broad-based phenomenon of low inflation, fed by a collapse in commodity prices and faltering demand, risked deteriorating into a full-blown deflation trap, particularly in advanced economies.
國際貨幣基金組織(IMF)昨日警告稱，大宗商品價格大跌和需求滑坡助長的低通脹普遍現象有可能惡化，變成一個全面的通縮陷阱，特別是在發達經濟體。
Governments needed to join central banks, which were increasingly seen to be running out of options, to do more to boost growth and raise incomes, it said.
該機構稱，各國政府應該加入央行的行列，採取更多行動促進經濟增長和提高收入；目前各主要央行日益被視爲正在耗盡政策選項。
The fund’s warning, contained in analytical chapters from its forthcoming World Economic Outlook, came as the World Trade Organisation forecast global trade volumes would rise only 1.7 per cent this year.
IMF的警告包含在其即將發表的《世界經濟展望》(World Economic Outlook)的分析章節中。與此同時，世界貿易組織(WTO)預計今年全球貿易量將僅增長1.7%。
This would be the slowest increase since the 2008 financial crisis and a big reduction from the 2.8 per cent growth it forecast in April.
這將是自2008年金融危機以來最慢的增長，而且相比該機構在4月份預測的2.8%大幅放緩。
The dramatic slowing of trade growth is serious and should serve as a wake-up call, said Roberto Azevêdo, the WTO’s director-general.
貿易增長的急劇減速是嚴重的，應該起到一個警鐘的作用，世貿組織總幹事羅伯託•阿澤維多(Roberto Azevêdo)表示。
The trend was particularly worrying in the context of an increase in protectionism and anti-globalisation rhetoric seen in the US and around the world, he said, adding: This is a moment to heed the lessons of history and recommit to openness in trade, which can help to spur economic growth.
他說，在保護主義擡頭、美國乃至世界各地都出現反全球化言論的背景下，這一趨勢尤其令人擔憂。他補充說：是時候汲取歷史的教訓，重新承諾開放貿易，這將有助於刺激經濟增長。
The twin warnings highlight mounting concerns over the world economy’s slow recovery from the 2008 crisis and the tepid response by policymakers.
這兩個警告突顯各方越來越擔心世界經濟自2008年的危機以來複蘇緩慢，擔心政策制定者的迴應不夠到位。
They are likely to be amplified next week when finance ministers and central bank governors from around the world gather in Washington for the annual meetings of the IMF and World Bank.
下週各國財長和央行行長齊聚華盛頓參加IMF和世界銀行(World Bank)年度會議時，這些擔憂很可能被放大。
The warnings also point to two key areas of concern.
這些警告還指出了兩個令人擔憂的關鍵領域。
International institutions are increasingly worried about the potential impact on a fragile global economy of the rise of populist politicians, such as US presidential candidate Donald Trump, and the protectionist policies they put forward.
國際機構越來越擔心美國總統候選人唐納德•特朗普(Donald Trump)等民粹主義政治人士人氣高漲，以及他們提出的保護主義政策，對脆弱的全球經濟產生的潛在影響。
They are equally frustrated by what they see as the failure of many governments to take tough decisions and their continuing overreliance on central banks and monetary policy to respond to slow growth.
他們同樣感到鬱悶的是，在他們看來，許多國家的政府未能作出艱難決定，而是繼續過於依賴央行和貨幣政策來應對增長緩慢。
