The lesson for countries that have not yet made the leap to financial globalization is clear: beware. Nothing can kill growth more effectively than an uncompetitive currency, and there is no faster route to currency appreciation than a surge in capital inflows.
对于那些还没有跃向金融全球化的国家而言，教训是很明显的，那就是防患于未然。没有任何东西比没有竞争力的货币更能够扼杀经济增长，也没有任何途径比资本流入激增更能够导致货币升值。