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en termes de taux de change

English translation: at official or current exchange rates

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13:09 Nov 3, 2008
French to English translations [PRO]
Bus/Financial - Finance (general)
French term or phrase: en termes de taux de change
Hi

This is about China, "la 6ème puissance économique mondiale en termes de taux de change."

Can a country be an economic power "in terms of exchange rates" and what does this mean?

Thank you!
Sandra Petch
Local time: 18:08
English translation:at official or current exchange rates
Explanation:
What they are indicating is that this is calculated at official exchange rates. The implication is that Chinese official exchange rates vary greatly from what might be termed the 'real value' of the chinese currency, which would be calculated at a 'purchasing power parity' rate.

If you will google 'official exchange rate' and 'purchasing power parity', or look at the Wikipedia entry for 'purchasing power parity' on the link below it will explain why a country can be more or less of an economic power if it's real exchange rate is different from its official or nominal exchange rate.

In economics writing the term 'at official exchange rates' is very common, (more than 7 million hits on Google) and the most accepted way to express this.

'In exchange rate terms' would be understood and not incorrect, but at 'official exchange rates' is probably the way a professional economist would express this.


Selected response from:

joehlindsay
Local time: 11:08
Grading comment
Thank you. I really needed enlightening as to what this actually meant. Thanks also to John Peterson for his helpful explanations.
4 KudoZ points were awarded for this answer

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Summary of answers provided
3 +4in terms of exchange ratemimi 254
5 +2at official or current exchange ratesjoehlindsay
5in terms of exchange rates [plural]Rimas Balsys
Summary of reference entries provided
The Globalization of the Chinese Economy
mohanv

Discussion entries: 11





  

Answers


14 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): +4
in terms of exchange rate


Explanation:
Hi,

That's how i also understand it. When the exchange rate is taken into consideration, China is ranked nber 6

mimi 254
Local time: 17:08
Native speaker of: Native in EnglishEnglish, Native in FrenchFrench
PRO pts in category: 110

Peer comments on this answer (and responses from the answerer)
agree  Jenny Forbes: Alternatively, "in exchange-rate terms" or "from the exchange-rate point of view".
1 min

agree  lydiar: I agree, but agree even more with Jenny's suggestions:)
15 mins

neutral  fourth: Can you explain what it means?
34 mins

neutral  John Peterson: probably best to say something like "exchange rate-adjusted"/Re Juliebarba's remark, terms like the one here are frequently used to indicate that figures in national currencies have been adjusted for comparability (in terms of a common unit of account)
1 hr

agree  juliebarba: ref John's comments, I can't see why the translation needs changing
2 hrs

agree  swanda
3 hrs

neutral  joehlindsay: This is not incorrect but the common term used in economics literature is 'at official exchange rates'.
3 hrs
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2 hrs   confidence: Answerer confidence 5/5
in terms of exchange rates [plural]


Explanation:
Don't want to steal thunder from the previous answer as that's 99%correct. Just wanted to point out that the French is plural, and that in English the phrase is also almost always plural.

Rimas Balsys
Local time: 09:08
Native speaker of: Native in EnglishEnglish
PRO pts in category: 20
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3 hrs   confidence: Answerer confidence 5/5 peer agreement (net): +2
at official or current exchange rates


Explanation:
What they are indicating is that this is calculated at official exchange rates. The implication is that Chinese official exchange rates vary greatly from what might be termed the 'real value' of the chinese currency, which would be calculated at a 'purchasing power parity' rate.

If you will google 'official exchange rate' and 'purchasing power parity', or look at the Wikipedia entry for 'purchasing power parity' on the link below it will explain why a country can be more or less of an economic power if it's real exchange rate is different from its official or nominal exchange rate.

In economics writing the term 'at official exchange rates' is very common, (more than 7 million hits on Google) and the most accepted way to express this.

'In exchange rate terms' would be understood and not incorrect, but at 'official exchange rates' is probably the way a professional economist would express this.




Example sentence(s):
  • The real size of the Chinese economy is very different from the nominal size which is calculated using official exchange rates rather purchasing power parity values/
joehlindsay
Local time: 11:08
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 272
Grading comment
Thank you. I really needed enlightening as to what this actually meant. Thanks also to John Peterson for his helpful explanations.

Peer comments on this answer (and responses from the answerer)
agree  rkillings: or 'at market exchange rates'. In any case, 'at' is far preferable to 'in terms of'.
51 mins

agree  John Peterson: This can resolve any ambiguity; re your discussion point I'm assuming some sort of exchange rate conversion has been used for comparability - which, for me, is what it is about. Whether it is the right exchange rate is another matter.
1 hr
  -> I think what they are saying that no exchange rate adjustment has been made. For some kinds of economical analysis, the unadjusted rate is useful, for others, the PPP adjusted rate is more useful. I don't think that an exchange rate adjustment has been m
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Reference comments


19 mins
Reference: The Globalization of the Chinese Economy

Reference information:
While the world is concerned about an emerging
China, China is changing rapidly, in particular because
it has opened up to the world. Formally, that process
culminated in China’s accession to the WTO in 2001.
The real opening occurred at a dramatic speed. Exports
as a share of gross domestic product (GDP) grew from
4% in 1965, 6% in 1980, and 14% in 1989, to 24%
in 1994 (World Bank 1991 + 1996). In spite of that
large share, the absolute figures, about USD 300, ex-
ports/capita are still low (3% of the German value!)
because of China’s low GDP (in particular when meas-
ured in terms of exchange rates). Exports and imports
as a share of GDP increased from 33% in 1993 to
60% in 2003 (in comparison, Japan’s share grew from
14% to 18% during the same period; Schrooten
2004). Gross foreign direct investment increased from
1.2% of GDP in 1990 to 4.9% in 2001 (World Bank
2003b)


    Reference: http://www.nuso.org/upload/evento/Dauderstaedt_Stetten.pdf.
mohanv
India
Specializes in field
Native speaker of: Native in TamilTamil
PRO pts in category: 63
Note to reference poster
Asker: Thanks Mohan!

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Non-PRO (1): juliebarba


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