Asian policymakers are entitled to look askance at foreign bondholders. Those countries most badly affected by panicked selling 13 years ago learned harsh lessons in leverage, several of them under the tutelage of the International Monetary Fund. Those that avoided a visit from the IMF, such as largely internally-funded India, saw their escape as validation of a more insular approach.
亞洲的決策者們有資格用質疑的眼光觀察外國債券投資者。13年前，那些受恐慌拋售打擊最嚴重的國家，在舉債問題上吸取了沉痛教訓，其中幾個國家被置於國際貨幣基金組織(IMF)的監護之下。那些逃過IMF監護的國家（例如主要依靠內部融資的印度），有了更多的理由奉行「隔絕」策略。
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