demand retrenchment

基本解释

At the same time, outright and seriously premature fiscal retrenchment is starting in Europe, diminishing demand for US exports.
与此同时，欧洲已经开始实施彻底的、尚为成熟的财政紧缩政策，从而降低对美国出口的需求。
Not with the financial system in virtual lockdown, and much of the world in a similar state of retrenchment, shrinking demand for American goods and services.
处于实质防备状态的金融系统不允许节俭，况且几乎全球都处于类似的需求紧缩状态，对美国产品和服务需求也在减少。
The loss of competitiveness can be reversed (Ireland is doing it), but only at the cost of a long-term decline in wages and demand, which will require in turn even more fiscal retrenchment.
竞争缺失可以修复（爱尔兰正在这样做），但要付出工资和需求长期下跌的成本，这样一来势必需要做出更多财政紧缩。