Especially vulnerable are emerging markets that have generally played by the rules & those with relatively free currencies and borders open to capital flows. 最可能受到冲击的是那些通常遵循游戏规则的新兴市场,及那些货币兑换相对自由、国内市场向外部资本开放的国家。
The problems in the financial sector in the US allow populists in emerging markets not just to retread their critiques of financial markets but also to hold free enterprise and trade guilty by association. 美国金融部门的问题不仅仅让新兴市场的民粹主义者翻新了他们对金融市场的批评,而且还让他们联合起来指责自由企业和自由贸易。
Free marketeers learned from the wave of emerging markets crises in the 1990s that there was no point in trying to provide free markets unless the institutions were already in place to cope with them. 从上世纪90年代一波又一波的新兴市场危机中,自由市场论者学到:除非自由市场对应的各项制度已经到位,否则,试图提供自由市场的努力毫无意义。
Emerging markets are struggling with what HSBC calls the impossible trinity, an inability to allow free flows of capital while simultaneously maintaining a grip over interest rates and exchange rates. 新兴市场正疲于应对汇丰所称的三件套大难题(impossibletrinity):既无法让资本自由流动,同时还要保持对利率和汇率的控制。