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Five years on

机译:五年

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摘要

Thailand's forced devalua-tion of the baht, five years ago this week, marked the beginning of a regional economic crisis that threatened at one stage to engulf the world. The emergency seemed to come from nowhere, and to dash the prospects of countries that had been seen as the most successful in the developing world. What happened over the following year undermined confidence not only in the emerging markets and in institutions such as the International Monetary Fund and the World Bank, but also in the consensus that had seemed to be taking shape about how best to achieve economic development. Five years on, how does East Asia look? In a word, good. Just as the region had been applauded too euphorically in the years leading up to the crisis, so the mood of despondency was overdone in the immediate aftermath.
机译:泰国五年前的本周泰铢被迫贬值,标志着区域性经济危机的开始,该危机曾一度威胁吞噬世界。紧急情况似乎无处不在,并破坏了被视为发展中国家最成功国家的前景。次年发生的事情不仅破坏了人们对新兴市场以及国际货币基金组织和世界银行等机构的信心,而且也破坏了人们似乎对如何最好地实现经济发展正在形成的共识。五年过去了,东亚的面貌如何?总之,很好。正如该地区在危机爆发前的几年中获得的赞誉一样,在此之后的绝望情绪过高。

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