Rather than confronting a debt crisis, as in 1997-98, emerging-market economies now face an “asset crisis,” but they will suffer the same result: great capital losses on their foreign-exchange reserves. Indeed, the magnitude of the losses will be on par with that of Asian financial crisis, if not higher.
与1997—1998年间面临债务危机不同，新兴市场经济体如今面临的是“资产危机”，但结果是一样的：巨大的外汇储备损失。事实上，这笔损失的程度将不会亚于当年的亚洲金融危机