如果一国利用资本控制应对资产泡沫，那它就可能是一件好事。
If an EM imposes capital controls to deal with asset bubbles, that's probably a good thing.
日本泡沫在过去10年来得以逐步挤出，是因为它通过本地银行筹集经费，以控制资产紧缩的速度。
Japan's bubble was able to deflate gradually over a decade because it had been financed by local Banks that could control the pace of asset deflation.
因此，即使央行着手控制经济中新增信贷总量，资产市场泡沫还是有可能出现。
As a result, asset market bubbles can occur even when the central bank is slowing the amount of new credit in the economy.
目前，各国中央银行的职责“大大超出了控制通胀范畴，而延伸至信贷紧缩、增长放缓、资产泡沫甚至汇率领域。”
The responsibilities of central banks “now extend well beyond inflation to credit crunches, growth slowdowns, asset bubbles, and, in some cases, exchange rates.”
目前，各国中央银行的职责“大大超出了控制通胀范畴，而延伸至信贷紧缩、增长放缓、资产泡沫甚至汇率领域。”
The responsibilities of central banks “now extend well beyond inflation to credit crunches, growth slowdowns, asset bubbles, and, in some cases, exchange rates.”
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