The financial shock which has recently hit the emerging markets stemmed in part from a period of severe stress in the Chinese money markets, which has now been brought under control. But the challenges facing China are chronic, not acute. And since the country is much more than “first among equals” in the Brics, a prolonged slowdown in its economy would keep all emerging market assets under pressure for a long while.
近期衝擊新興市場的金融動盪，在一定程度上是由中國貨幣市場嚴重承壓的一段時期造成的，這種壓力現已得到控制。但中國面臨的挑戰是「慢性」的，而非「急性」的。此外，由於中國是金磚國家(BRICS)中的「龍頭老大」，其經濟的長期放緩會導致所有新興市場資產在很長一段時間內都承受壓力。
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