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The sustained and substantial appreciation of the U.S. dollar—more than 31% since the second quarter of 1995, using the Federal Reserve's broad index of its real (inflation-adjusted) value—greatly stimulated FDI around the world, especially in Mexico, China, and other developing countries. This substantial increase in the real value of the U.S. dollar makes other countries'exports to the United States cheaper for U.S. buyers while making imports from the United States more expensive in foreign markets. This devaluation of foreign currencies relative to the dollar also encourages investors around the world to build new and expanded production capacity at home to export even more goods to the U.S. Hence, U.S. markets have been flooded with imports from Asia, Europe, Central and South America, and Africa since 1994.

The main idea of the paragraph

Since 1995 the U.S. dollar appreciated more than 31%, thus encouraging the U.S. to make foreign direct investment abroad and expanding the production capacities of those countries. Moreover, the dollar appreciation has made U.S. exports more expansive and U.S. imports cheaper, leading to the growth of U.S. trade deficits.

从1995年起，美元升值了31%以上，这激发美国企业向海外进行直接投资，同时也扩大了那些国家的生产能力，而且，美元的升值使得美国的出口产品的价格上升、进口商品的价格下降，导致美国贸易赤字的增加。

句子分析

The sustained and substantial appreciation of the U.S. dollar – more than 31% since the second quarter of 1995, using the Federal Reserve’s broad index of its real (inflation-adjusted) value – greatly stimulated FDI around the world, especially in Mexico, China, and other developing countries.

　　这句也是个简单句，其中：

　　1）“The sustained and substantial appreciation of the U.S. dollar greatly stimulated FDI”是句中的主语和谓语；

　　2）“more than 31% since the second quarter of 1995”是同位语，说明“appreciation of the U.S. dollar”的内容；

　　3）“using the Federal Reserve’s broad index of its real (inflation-adjusted) value”是现在分词短语作定语，修饰名词短语“appreciation of the U.S. dollar”；

　　4）“around the world, especially in Mexico, China, and other developing countries”是介词短语，作定语，修饰名词“FDI (foreign direct investment)”。

词语解释

inflation-adjusted

Removing the effects of inflation. Doing it allows one to see the true statistics without external economic forces/factors. 扣除通货膨胀（因素）的

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