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1. 货币紧缩 (huòbì jǐnsuō): This phrase literally translates to "currency contraction" and is used to describe the same phenomenon as "deflation".
2. 价格下降 (jiàgé xiàjiàng): This phrase literally translates to "price decrease" and is used to describe the same phenomenon as "deflation".
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In conversation, "通货紧缩" is typically used to refer to a decrease in the overall price level of goods and services in an economy. It is often used in discussions about economic conditions and policies.
For example, someone might say "最近经济不景气，通货紧缩的情况越来越严重" (zuìjìn jīngjì bù jǐngqì, tōnghuò jǐnsuō de qíngkuàng yuè lái yuè yánzhòng), which means "Recently, the economy has been in a downturn and the situation of deflation is becoming more and more serious."
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