At the same time, if the world’s most powerful countries stopped promoting full capital-account liberalization, developing countries would feel less pressure to protect themselves by accumulating foreign-exchange reserves. By investing the funds in development projects instead, they could address both savings and foreign-exchange constraints.
与此同时，如果世界最强国停止敦促完全的资本账户自由化，那么发展中国家通过囤积外汇储备以自我保护的压力就会减轻。通过将这笔资金投资于发展项目，它们可以同时解决储蓄和外汇约束。