【单选题】

In a breath-taking turn of events,Asia’’s economies have gone from miracle to meltdown in a matter of weeks. Many forecasters who recently predicted GDP growth of 6 % in South Korea and SoutheastAsia for 1998 are suddenly projecting zero or even negative growth. In the often short-sighted world of international finance, a new conventional wisdom is quickly forming: that inept policy-making is dragging downAsian economies, and that only the tough austerity medicine of the International Monetary Fund, plus a good stiff recession, will bring the region’’s economies back to track. In recent years, foreign and domestic investors inEastAsia got a touch of what U, S. Federal ReserveChairmanAlan Greenspan has famously termed "irrational exuberance". Spurred by years of high economic growth inAsia, these investors poured billions of dollars of loans into the region, financing many worthwhile investments but also an unsustainable real estate boom. This over investment need not have caused a crisis.

A、healthy reaction would have involved a gradual cutback in foreign lending, a gradual weakening ofAsia’’s overvalued currencies and gradual shift of investments from over-inflated property sectors back to long-term export-oriented projects. Most short-term booms are brought down to earth without extreme crisis, and such an adjustment was the most likely scenario until the summer in 1997. In the event,Asia experienced a financial meltdown.
A、gradual withdrawal of funds from Thailand suddenly became a stampede. Thailand’’s government dallied in responding to the overheating long after it had become apparent, and as a result squandered Thailand’’s foreign exchange reserves in a misguided attempt to defend the overvalued baht (铢). The stampede came when foreign creditors realized that Thailand had more short tern foreign debts than the remaining short term foreign reserves.
A、"rational panic" began.Each investor started to dump assets simply to get out of Thailand a head of other investors. Panic in Thailand soon took a toll on the economies of its neighbors. The chain reaction of nervous withdrawals led to a meltdown that now includes most ofEastAsi
A、Confidence has been so drained thatAsia’’ s positive "fundamentals"--historically high rates of growth, saving and exports--are being overlookedEconomies rely on confidence, and what they most need to fear is, indeed, fear itself. According to the passage, what is supposed to be the key link to the economic recovery inEastAsia
A、To attract more foreign funD、
B．To boost the exports.
C．To stop dumping assets.
D．To regain confidence.