The spelling of "Paul Waley" can be explained using the International Phonetic Alphabet (IPA). "Paul" is spelled as /pɔːl/ in IPA, with the symbol "/ɔː/" representing the "aw" sound. "Waley" is spelled as /weɪli/, with "/weɪ/" representing the "way" sound and "-ley" pronounced as /li/. Knowing the IPA helps one to accurately spell and pronounce words, especially those with irregular spellings or foreign origin.