The world is expecting the US Federal Reserve to start tapering its quantitative easing programme soon. This has increased market volatility. And, as in past episodes of Fed tightening, emerging markets are at the centre of the turmoil. But this time the adjustments taking place are the product of imbalances that originated in the developed world.
世界預期美聯儲(Fed)很快將逐步退出量化寬松計劃。這一預期加大了市場的動蕩。此外,正如以往美聯儲收緊貨幣政策時發生的情況一樣,新興市場目前正處于動蕩的中心。但是,這次發生的調整是由起源于發達世界的種種不平衡造成的。
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