The OECD has urged member states to redouble their efforts to encourage growth, warning that the global economy faces a diverging outlook and months of exchange rate instability.
经合组织(OECD)敦促成员国加倍努力促进增长，它警告称，全球经济面临分化的前景以及将持续数月的汇率不稳定。
In its assessment of trends before next week’s Group of 20 summit in Brisbane, the Paris-based organisation called for a different mix of fiscal policy, monetary policy and structural reforms to raise demand in the short term and improve the longer-term outlook for prosperity.
下周20国集团(G20)在布里斯班举行峰会前夕，总部位于巴黎的经合组织在其对当前发展趋势的评估报告中，呼吁各国出台不同的政策组合，以财政政策、货币政策和结构性改革来提高短期需求、改善较长期的繁荣前景。
In a change of stance at the OECD that coincides with the appointment of a new chief economist, the organisation said governments should delay efforts to cut public borrowing as one leg of a “three-legged stool” to improve growth.
新的首席经济学家上任后，OECD似乎改变了立场，称各国政府应推迟削减公共部门借款的努力，以此作为提振经济增长的三大支柱之一。
Outlining growth forecasts similar to those from the International Monetary Fund last month, with global growth rates predicted to rise from 3.3 per cent this year to 3.9 per cent in 2016, the OECD said there was an increasing risk of stagnation in the eurozone.
OECD的增长预测与国际货币基金组织(IMF)上月发布的预测相似。它表示，其预测全球经济今年增长3.3%，到2016年将加快至3.9%，但指出欧元区陷入停滞的风险在不断增加。
The expected rise in interest rates in the US next year, at the same time as the Bank of Japan and European Central Bank sought to loosen policy, would cause disruptions, said Catherine Mann, the new OECD chief economist.
OECD新任首席经济学家凯瑟琳•曼(Catherine Mann)表示，预计美国明年将加息，同时日本央行(Bank of Japan)和欧洲央行(ECB)将寻求放松政策，这将造成混乱。
“There is no doubt that there is going to be more serious instability and volatility in exchange rates and in emerging economies as investors reposition portfolios,” she said.
“毫无疑问，随着投资者调整投资组合，汇率和新兴经济体将出现更严重的不稳定和波动，”她表示。
In potentially difficult circumstances, with the US showing robust recovery while Japan, the eurozone and some emerging markets lag behind, she said policy makers needed to use the time available to change fiscal policy, monetary policy and pass structural reforms.
她说，在美国呈现强劲复苏、而日本、欧元区以及一些新兴市场却落在后面的潜在困难情况下，政策制定者需要抓紧时间改变财政政策、货币政策，并推动通过结构性改革。
Speaking to the Financial Times before the OECD report’s publication, she said: “[These] are three legs of a stool and we need all three legs of the stool to stand.”
她在OECD报告发表前夕对英国《金融时报》表示：“（这些）是一个凳子的三条腿，若想让这个凳子站立，三条腿都需要。”
The OECD usually urges governments to reduce public borrowing. But Ms Mann said it thought a more flexible approach was warranted, sometimes urging austerity to boost confidence and sometimes calling for fiscal stimulus.
OECD通常敦促各国政府削减公共部门借款。但曼表示，该组织认为现在应当采取一种更灵活的姿态，有时敦促实施紧缩以提振信心，有时则呼吁出台财政刺激。
Circumstances called for stimulus, she argued. “We’re in a position where the downside risk of slow growth means we need to take all available options, particularly in Europe,” she said, urging Germany to increase public investment and other countries, including France and Italy, not to cut deficits too fast.
她主张，目前形势要求出台刺激政策。“我们现在的处境是，缓慢经济增长的下行风险意味着，我们需要采取所有可用的选项，尤其是在欧洲，”她表示。她敦促德国增加公共投资、其他国家（包括法国和意大利）则不要过快削减赤字。
“The situation in Europe is delicate. The global economy is in a more robust place, but the global economy cannot be considered healthy if Europe is not part of that equation.”
“欧洲的情况很微妙。全球经济处于一种更强劲的状态，但如果欧洲不是其中的一部分，全球经济就不能算是健康的。”
Responding to longstanding criticisms from Berlin that a small fiscal loosening would do little for Germany and almost nothing to boost the rest of the eurozone, she said the main benefit of more stimulus lay in “confidence-building that fiscal policy is not being left on the sidelines”.
柏林方面长期以来批评称，小打小闹的财政放松对德国没什么作用，也基本起不到提振欧元区其他经济体的作用。对此，曼表示，加大刺激的主要益处在于“构建信心，展示财政政策并未被晾在一边”。
The OECD joined the IMF in warning that its estimates of the growth potential in most countries had declined in recent years, partly as a result of low levels of private investment and partly from disappointing labour productivity trends.
OECD呼应了IMF的警告，称对多数国家增长潜力的估计数字近年来有所下降，原因包括私营部门投资水平偏低，以及劳动生产率发展趋势令人失望。
“Structural reforms to product and labour markets are the foundation for increased investment, but how you get that going depends on [macroeconomic] policy, which has a role in setting the rules of the game,” she said.
“产品和劳动力市场的结构性改革是增加投资的基础，至于你在这方面怎么推动，那就要看（宏观经济）政策，这些政策在制定游戏规则方面发挥着作用，”她说。
经合组织(OECD)敦促成员国加倍努力促进增长，它警告称，全球经济面临分化的前景以及将持续数月的汇率不稳定。
In its assessment of trends before next week’s Group of 20 summit in Brisbane, the Paris-based organisation called for a different mix of fiscal policy, monetary policy and structural reforms to raise demand in the short term and improve the longer-term outlook for prosperity.
下周20国集团(G20)在布里斯班举行峰会前夕，总部位于巴黎的经合组织在其对当前发展趋势的评估报告中，呼吁各国出台不同的政策组合，以财政政策、货币政策和结构性改革来提高短期需求、改善较长期的繁荣前景。
In a change of stance at the OECD that coincides with the appointment of a new chief economist, the organisation said governments should delay efforts to cut public borrowing as one leg of a “three-legged stool” to improve growth.
新的首席经济学家上任后，OECD似乎改变了立场，称各国政府应推迟削减公共部门借款的努力，以此作为提振经济增长的三大支柱之一。
Outlining growth forecasts similar to those from the International Monetary Fund last month, with global growth rates predicted to rise from 3.3 per cent this year to 3.9 per cent in 2016, the OECD said there was an increasing risk of stagnation in the eurozone.
OECD的增长预测与国际货币基金组织(IMF)上月发布的预测相似。它表示，其预测全球经济今年增长3.3%，到2016年将加快至3.9%，但指出欧元区陷入停滞的风险在不断增加。
The expected rise in interest rates in the US next year, at the same time as the Bank of Japan and European Central Bank sought to loosen policy, would cause disruptions, said Catherine Mann, the new OECD chief economist.
OECD新任首席经济学家凯瑟琳•曼(Catherine Mann)表示，预计美国明年将加息，同时日本央行(Bank of Japan)和欧洲央行(ECB)将寻求放松政策，这将造成混乱。
“There is no doubt that there is going to be more serious instability and volatility in exchange rates and in emerging economies as investors reposition portfolios,” she said.
“毫无疑问，随着投资者调整投资组合，汇率和新兴经济体将出现更严重的不稳定和波动，”她表示。
In potentially difficult circumstances, with the US showing robust recovery while Japan, the eurozone and some emerging markets lag behind, she said policy makers needed to use the time available to change fiscal policy, monetary policy and pass structural reforms.
她说，在美国呈现强劲复苏、而日本、欧元区以及一些新兴市场却落在后面的潜在困难情况下，政策制定者需要抓紧时间改变财政政策、货币政策，并推动通过结构性改革。
Speaking to the Financial Times before the OECD report’s publication, she said: “[These] are three legs of a stool and we need all three legs of the stool to stand.”
她在OECD报告发表前夕对英国《金融时报》表示：“（这些）是一个凳子的三条腿，若想让这个凳子站立，三条腿都需要。”
The OECD usually urges governments to reduce public borrowing. But Ms Mann said it thought a more flexible approach was warranted, sometimes urging austerity to boost confidence and sometimes calling for fiscal stimulus.
OECD通常敦促各国政府削减公共部门借款。但曼表示，该组织认为现在应当采取一种更灵活的姿态，有时敦促实施紧缩以提振信心，有时则呼吁出台财政刺激。
Circumstances called for stimulus, she argued. “We’re in a position where the downside risk of slow growth means we need to take all available options, particularly in Europe,” she said, urging Germany to increase public investment and other countries, including France and Italy, not to cut deficits too fast.
她主张，目前形势要求出台刺激政策。“我们现在的处境是，缓慢经济增长的下行风险意味着，我们需要采取所有可用的选项，尤其是在欧洲，”她表示。她敦促德国增加公共投资、其他国家（包括法国和意大利）则不要过快削减赤字。
“The situation in Europe is delicate. The global economy is in a more robust place, but the global economy cannot be considered healthy if Europe is not part of that equation.”
“欧洲的情况很微妙。全球经济处于一种更强劲的状态，但如果欧洲不是其中的一部分，全球经济就不能算是健康的。”
Responding to longstanding criticisms from Berlin that a small fiscal loosening would do little for Germany and almost nothing to boost the rest of the eurozone, she said the main benefit of more stimulus lay in “confidence-building that fiscal policy is not being left on the sidelines”.
柏林方面长期以来批评称，小打小闹的财政放松对德国没什么作用，也基本起不到提振欧元区其他经济体的作用。对此，曼表示，加大刺激的主要益处在于“构建信心，展示财政政策并未被晾在一边”。
The OECD joined the IMF in warning that its estimates of the growth potential in most countries had declined in recent years, partly as a result of low levels of private investment and partly from disappointing labour productivity trends.
OECD呼应了IMF的警告，称对多数国家增长潜力的估计数字近年来有所下降，原因包括私营部门投资水平偏低，以及劳动生产率发展趋势令人失望。
“Structural reforms to product and labour markets are the foundation for increased investment, but how you get that going depends on [macroeconomic] policy, which has a role in setting the rules of the game,” she said.
“产品和劳动力市场的结构性改革是增加投资的基础，至于你在这方面怎么推动，那就要看（宏观经济）政策，这些政策在制定游戏规则方面发挥着作用，”她说。
