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传统上,美元走强被证明是发展中国家陷入动荡的预兆。上世纪90年代末的亚洲金融危机爆发以来,很多新兴经济体明智地改掉了将本币与美元挂钩以及在海外借款的习惯,但非金融企业却急于主要通过发行外币债券来填补这个空白,这些债券受到追求收益的西方资产管理公司的争夺。
Traditionally, a stronger dollar has proved to be a sign of turmoil in developing countries. Since the outbreak of the Asian financial crisis in the late 1990s, many emerging economies have wisely removed the habit of linking their currencies to the U.S. dollar and borrowing overseas, but non-financial companies are eager to fill this gap mainly by issuing foreign currency bonds, which Bonds are contested by western asset managers who pursue earnings.