重要问题是在其它方面：亚洲决策者经过总结认为，重大错误不是盯住汇率制，而是汇率高估。

The big event has been elsewhere: the great mistake, Asian policymakers concluded, was not pegged, but overvalued, exchange rates.

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(例外情形仅出现在试图维持盯住汇率制的国家)对于机构投资者而言，货币风险变得无足轻重，他们并不花费时间去限制货币风险。

(the exceptions have occurred in countries that have tried to maintain currency pegs.) currency risk has been of such little concern to institutional investors that many do not bother to hedge it.

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