The easy money policies of the US and Japanese central banks are inspiring worried talk of “currency wars”. The fear is that newly printed dollars and yen will flood into fast-growing emerging markets, driving up their currency values, undermining their exports and creating local asset bubbles. In this analysis, emerging market leaders are fighting in vain to hold back a destructive tide.
美聯(lián)儲和日本央行的寬松貨幣政策引發(fā)關(guān)于“貨幣戰(zhàn)爭”的討論，人們擔(dān)心的是，新印的美元和日元將涌入快速增長的新興市場，推升這些國家的幣值，打壓它們的出口，導(dǎo)致當(dāng)?shù)刭Y產(chǎn)出現(xiàn)泡沫。按照這種分析，新興市場領(lǐng)導(dǎo)人正在徒勞地抵御一股具有破壞性的洪流。
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