For decades, developed-country shareholders at the International Monetary Fund and the World Bank used loan conditionality to spur economic reforms – often including contentious fiscal-austerity measures – in the so-called Third World. Through pragmatic, sustained reform efforts, countries like Brazil, China, and India turned their economies around to achieve stunning increases in GDP growth – from an average annual rate of 3.5% in 1980-1994 to 5.5% since then.
几十年来，发达国家IMF和世界银行股东用贷款条件刺激所谓第三世界的经济改革——通常包括有异议的财政紧缩措施。通过务实的持续改革，巴西、中国和印度等国家扭转了经济局面，获得了令人惊异的GDP增长——从1980—1994年间的年均3.5%增至1994年后的年均5.5%。