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US representatives were wary of allowing members access to the dollar without strings attached.
美国代表对允许国际货币基金组织成员国无条件使用美元持谨慎态度。
And because the IMF had been designed in ways that gave the US unparalleled control over its activities, their prerogatives held sway.
因为国际货币基金组织的设计方式赋予了美国对其活动前所未有的控制权，所以，美国代表的特权占据了主导地位。
It was not in Europe that the IMF first deployed these interventionist powers, though; it was in the so-called third world, beginning in South American states such as Chile, Paraguay and Bolivia in the 50s.
不过，国际货币基金组织最初部署这些干预主义力量的地点并非设在欧洲; 而是在所谓的第三世界，从上世纪50年代的智利、巴拉圭和玻利维亚等南美国家开始。
After the collapse of the Bretton Woods system in the early 70s, when Richard Nixon removed the US dollar’s peg to gold, the IMF appeared to be out of a job.
上世纪70年代初，当理查德·尼克松取消了美元与黄金挂钩的汇率制度，布雷顿森林体系崩溃，国际货币基金组织似乎无事可做。
But it quickly took on new prominence in making bailout loans to financially unstable states.
该组织很快又在向财政不稳定的国家发放救助贷款方面发挥了新作用。
These loans came with demands for major structural reforms (privatisation, deregulation, the removal of tariffs) in addition to fiscal and monetary restraint.
除了财政货币的约束外，获得这些贷款还要求进行重大结构性改革(私有化、放松管制、取消关税)。
What made the IMF so mighty was that other creditors – whether commercial banks such as Citibank, or foreign governments – often considered a prior arrangement with the institution as a sign of a country’s creditworthiness.
该组织之所以如此强大，是因为其他债权人——无论是花旗银行等商业银行，还是外国政府——往往认为，优先与该组织达成协议，是一国信誉的标志。
When the Soviet Union collapsed in the early 90s, the IMF undertook its most ambitious task yet, overseeing the transition of nearly-formerly Soviet republics to capitalism.
上世纪90年代初苏联解体时，该组织承担了迄今为止最雄心勃勃的任务，监督了几乎所有前苏联加盟共和国向资本主义的过渡。
In the process, it became, as the political scientist Randall Stone put it, the “most powerful international institution in history”.
正如政治学家兰德尔·斯通所说，在这个过程中，该组织成为了“史上最强大的国际机构”。
As the IMF reached the height of its influence in the 90s, however, it sparked a global backlash that continues to this day. And the place where that backlash began was in Asia.
然而，随着该组织的影响力在上世纪90年代达到顶峰，它也引发了一场持续至今的全球抵制。而那场抵制始于亚洲。
The Asian financial crisis is poorly remembered in the west, having been overshadowed by the 9/11 terrorist attacks and the “war on terror”.
由于9·11恐怖袭击和“反恐战争”事件的掩盖，所以，西方对亚洲金融危机几乎没有记忆。
But it was an enormously consequential event, and its impact would reshape the global economy over the next 25 years.
但这是一个影响深远的事件，该事件的影响将重塑未来25年的全球经济。
It began in the summer of 1997, when the collapse of the Thai baht sparked a financial panic that spread quickly throughout the region.
该事件始于1997年夏天，当时，泰铢崩溃引发了金融恐慌，迅速蔓延至整个亚洲地区。
As investors dumped one shaky currency after another, the panic became self-perpetuating, wreaking havoc from Indonesia to South Korea, and to countries as far off as Russia and Brazil.
投资者接连抛售摇摇欲坠的货币，这场恐慌不断延续，从印尼到韩国，以及俄罗斯和巴西那么远的国家都遭受了浩劫。
