The sub-prime loan crisis has taken a heavy toll on the equity markets in Asia, making one of a new round of financial crisis in the emerging market economies.

次级抵押贷款危机对亚洲股市产生了严重影响，人们想知道这是不是新兴市场经济体新一轮金融危机的开始。

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BIS's work counts for least where it should matter most: in emerging-market economies such as those in Asia, where weak financial regulation turned currency turmoil into full-fledged economic crisis.

ECONOMIST: Lenses of last resort