Given the high degree of trade and financial globalization that now characterizes the world economy, there is no doubt that the slowdown in the advanced economies, which account for two-thirds of global GDP, will undermine emerging-country growth. Indeed, the threat to withdraw QE is already having an enormous impact on emerging economies’ asset markets.
如今，贸易和金融的高度全球化已成为世界经济的一大特征，在这样的背景下，占全球GDP三分之二的发达经济体的减速毫无疑问将拖累新兴国家的增长。事实上，退出QE的风险已经对新兴经济体的资产市场造成了严重冲击。