After a decade in which reserve managers built ever greater stockpiles to shield themselves against external shocks, global reserve growth stalled last year as the Federal Reserve’s plans to taper stimulus prompted a flight from emerging markets.
過去十年間，外匯儲(chǔ)備管理機(jī)構(gòu)不斷積累外匯儲(chǔ)備以抵御外部沖擊。由于美聯(lián)儲(chǔ)(Fed)逐步退出刺激政策的計(jì)劃促使資金流出新興市場(chǎng)，去年全球外匯儲(chǔ)備停止了增長(zhǎng)。
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