Those companies do not exist in a vacuum - they do business with other firms who will also be hit if they start to rein in their spending.
这些公司并非存在于真空中--他们与其他同样紧缩开支的公司做生意。But for now, he said, 'the deflation that some had feared is just not happening. '
但他补充称，就现在而言，一些人此前担心的通货紧缩不会发生。Some further credit tightening would tip us over into a more severe recession, but it is too early to tell.
他说，进一步紧缩信贷有可能将美国推入更严重的衰退，但现在作此判断还为时尚早。But economists are sharply divided on the cause of this inflation and the degree to which policy needs to be tightened.
但是经济学家仔细分析了这次通货膨胀的原因，在某种程度上因实行紧缩政策。Most leaders therefore find currency devaluation so unthinkable that, at first glance, austerity seems to be the only choice.
因此，在许多领导人看来，货币贬值简直不可想象，乍看上去，财政紧缩似乎成了唯一的选择。Her suggestions that Britain's austerity may be have gone too far was met with a cold shoulder in London.
另外，她还曾暗示英国实行的紧缩政策可能做得太过，而伦敦方面则对此不予理睬。When a stone falls into a pond, the ripples persist for a while. The credit crunch was a whopping great boulder.
当一颗石子落入池塘后，荡起的涟漪尚且会持续一段时间。何况信用紧缩（却）是巨如磐石。In the last couple of years, when deflation was perceived by many to be a greater threat than inflation, the index was of little value.
在过去两年中，当通货紧缩比通货膨胀更为许多人所感受到时，这一指数基本上没有了用武之地。Reneging on our commitments to the world's poor cannot be an austerity measure, " she said. "
放弃我们给世界上的穷国的承诺不能成为一种紧缩措施。