The main lesson of the Asian financial crisis – or, for that matter, of any financial crisis – is that deflation is the ultimate threat to recovery. Because the 1997 crisis was confined to East Asia, China was able to escape deflation after it joined the World Trade Organization.
亚洲金融危机&mdash;&mdash;从这个意义上说，是任何金融危机&mdash;&mdash;的主要教训是，通缩是复苏的终极威胁。由于1997年危机局限于东亚地区，中国得以在加入世贸组织后摆脱了通缩。