Real Emerging Countries的意思|示意

Some emerging markets countries are concerned about the impact of capital flows on their economies: the real appreciation of their exchange rates can have a damaging impact on a country's exporters.

一些新兴市场国家担心资本流对其经济产生的影响：如其汇率真正升值，则可能对一国出口商产生破坏性影响。

So there should be capital inflows to emerging markets, real appreciation, and a move toward current account deficits — that is, if the countries allow it.

所以一定会出现朝向新兴市场的资本流动过程，（造成目标国）真实货币升值以及经常账户出现赤字——当然这是在资本流入国允许的情况下。

The real issue is not globalisation, but the rise of emerging countries.

真正的问题不是全球化，而是新兴国家的崛起。