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.
亚洲的决策者们有资格用质疑的眼光观察外国债券投资者。13年前，那些受恐慌抛售打击最严重的国家，在举债问题上吸取了沉痛教训，其中几个国家被置于国际货币基金组织(IMF)的监护之下。那些逃过IMF监护的国家（例如主要依靠内部融资的印度），有了更多的理由奉行“隔绝”策略。
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