The panelists agreed on two points: first, they initially detested the wrenching adjustment programs dictated by the terms of the International Monetary Fund’s so-called conditional bailouts (the South Koreans still refer scornfully to the “IMF crisis” of the late 1990’s). Second – and here’s where the surprise came – they all agreed that, with the benefit of hindsight, these excruciating adjustments were worth it, because their crisis-torn economies were forced to embrace structural reforms that paved the way for their spectacular economic performance today.
坦白地说，我对我所听到的一切感到吃惊。与会者都同意以下两点：首先，他们一开始都对国际货币基金组织（IMF）所谓的有条件援助条款感到厌恶，韩国人至今依然充满鄙视地将这一痛苦的调整政策称之为“IMF式危机”。其次——也是令人惊讶的地方——就是他们都同意执行这一政策，而且从事后看来，这些极为痛苦的调整也是值得的，因为深受危机重创的各国经济都被迫实施结构性改革，并为当今亚洲的突出经济表现铺平了道路。