卡尔沃强调指出，美国正承受着需求总量下降和信贷紧缩的“双重打击”，而大多数新兴市场的处境要好一些。

Calvo noted that while the U.S. is suffering "a double-whammy" of a drop in aggregate demand combined with a credit crunch, most emerging markets are faring better.

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日本银行系统仍需应对信贷市场紧缩以及本土和海外经济的双重疲软。

Japan's lending industry is still contending with credit market unease and a soft economy both at home and abroad.

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