In those countries which have been badly affected, it was a combination of private sector overborrowing, inadequate bank regulation, poor risk management and tragic policy errors at the corporate and banking levels, both national and international.

• 在受打击最严重的国家，私营企业负债过多、银行监管不足、风险管理欠妥善，以及企业和银行在本地和国际层面的政策上犯了严重的错误，全部都是整个危机的导因。