Neat solution. At root, FX reserves exist to avert currency crises: when devaluation spirals out of control, dollars can be deployed to buy up the local currency. Asia, whose kitties were demonstrably not up to this task during the financial crisis of 1997-8, has learnt its lesson. Now some reserves in the region, which tot up to some $4,000bn, are arguably too big.
漂亮的解決方案！從根本上說(shuō)，外匯儲(chǔ)備的作用在于避免貨幣危機(jī)：當(dāng)貶值趨勢(shì)失控，就可以調(diào)用美元來(lái)夠買本幣。在1997-98年亞洲金融危機(jī)期間，亞洲各國(guó)的外匯儲(chǔ)備確實(shí)無(wú)法完成這項(xiàng)任務(wù)，但亞洲已經(jīng)汲取了教訓(xùn)。現(xiàn)在亞洲的外匯儲(chǔ)備合計(jì)高達(dá)4萬(wàn)億美元左右，可以說(shuō)，有些國(guó)家的外匯儲(chǔ)備太多了。
您已閱讀22%（506字），剩余78%（1825字）包含更多重要信息，訂閱以繼續(xù)探索完整內(nèi)容，并享受更多專屬服務(wù)。