新兴市场决策者或许会主张他们只关心汇率不要过快上升。
Emerging-market policymakers would argue that their only concern is to prevent their exchange rates from overshooting.
第三个因素则是亚洲的央行作为国债的大买家，这是它们汇率管理政策的一部分，它们相对而言不关心未来的回报。
A third factor is that Asian central Banks are big buyers of Treasury bonds as part of their exchange-rate management policies, and are relatively indifferent to future returns.
他们不太关心是否通货膨胀，但对汇率波动却越来越紧张：现在给百分之二十五的管理者们敲响了警钟。
They have become less concerned about inflation, but increasingly fretful about currency volatility: it now alarms 25% of executives.
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