[7] ThenJapanwas hurt, because roughly 40 percent of its trade is with the rest ofAsia. The loss of exports pushed its already-weak economy-which had never fully recovered from the speculative『投机的；带有投机性的』"bubble economy『泡沫经济』" of the late 1980s-into its worst postwar recession. The problems of its banks, burdened『承担；负担』 with more than $500 billion in bad loans, deepened. All the Asian recessions fed on each other; Japan wasn't healthy enough to help other Asian nations revive『复苏；复兴』by buying more of their exports.

[7] 由于日本大约有40%的贸易是与亚洲国家进行的，这使其国内经济受到了损害。自从80年代后期以来，日本的投机性泡沫经济一直就没有彻底愈合，此时出口的下降，把本已脆弱的经济推入了战后最严重的衰退之中。日本的银行问题重重，负担的坏帐总额超过5000亿美圆。所有亚洲国家的经济衰退交互影响，日本无力以增加本国的进口来帮助亚洲国家复兴经济。 【背景知识】

在亚洲经济危机发生之后，仅日本就给出了190亿美圆，而欧美诸国加在一起也不到150亿美圆。在亚洲日本与欧美相比，其影响的大小清晰可见。 日本是中国以及很多亚洲国家的主要出口市场，只有日本的经济出现复苏亚洲各国才会拥有真正摆脱经济阴影的基础。

[8] Capital flight next hit LatinAmericaandRussiain early summer. To stop investors from converting local currencies into dollars (or yen or German marks), countries raised interest rates. In July, short-term interest rates inRussiashot to 100 percent. But high rates meant slower economic growth or a crash; a currency collapse-if capital flight continued-posed『造成；引起』the same dangers. Now the "Asian crisis" extended well beyond a few small countries. IncludingJapan,Latin Americaand the former soviet bloc, almost half the world economy was affected.

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