內地股瘋　北京不急格老急

文章轉貼自： 經濟 日報 dated １June 2007
文：Teric
專欄：中英聯合州社評

正當內地一些官員大讚全民炒股是天大好事之際，國際間卻憂慮內地股市狂升，如美國聯儲局前主席格蘭斯班便警告，內地股市將出現｛戲劇性萎縮｝．此雖有點皇帝不急太監急，但內地股市股市泡沫一旦爆破，全球股市與經濟恐遭池魚之殃．

When some mainland officials still laud (大讚) a nation of stock market speculators as a healthy development, the mainland stock market frenzy has roused international concern．Former US Federal Reserve chairman Greenspan warned that "there is going to be a dramatic contraction ｛戲劇性萎縮｝at some points．” His remark may have gone beyond his position．” （喻皇帝不急太監急），but  if the mainland stock market bubble bursts， global stock markets and economy will not be left unscathed．

繼格老前天按捺不下，對內地股市風險作出提點外，經合組織（OECD）昨日亦警告，內地股市將可能顯著調整，威脅銀行體系．內地股市仍屬高度封閉，何以國際如此關注？

Greenspan could no longer contain his concern and warned of the risks facing the mainland stock market a couple of days ago. Right at his heels, the Organization for Economic Co-operation and Development （OECD）（經合組織） yesterday also warned that should the mainland stock market experience a marked correction, it may threaten the banking system. The mainland stock market is still a highly closed market, why has it roused so much international concern ?

此因內地股市一旦暴挫，全球股市與經濟都難置身事外．其一，股市極受投資者情緒左右，尤其現時全球股市大都處歷史高位．若內地股市崩倒，將可能逆轉全球投資界的樂觀情緒，觸發全球股市大沽貨．

Hence, if the mainland stock market takes a freefall （暴挫），it will drag global stock markets and economy down with it. Firstly, stock swings, especially at such a time when stock markets over the world are hitting historic high. If the mainland stock market crashes, it will crush the euphoria {樂觀情緒} of global investores and touch off a global sell-off （大沽貨）

其二，中美是過去數年全球經濟引擎，美國經濟已在放媛，若中國經濟亦因股市泡沫爆破而大震盪，甚或社會不穩，那全球經濟便前景堪虞．

Secondly，China and the US have been acting as the global economic locomotives （全球經濟引擎）for the past few years．The US economy is already slowing down，if China's stock market bubble burst shatters （大震盪）its economy or even destabilizes its society，global economy will be in very dire straits　（前景堪虞）

unscathed　－　形容詞，｛毫無損傷｝，如：
Despite falling off my bike，I remained unscathed because I was wearing a helmet and long pants. 儘管我從單車掉下來，卻毫無損傷，因為我戴了頭盔和穿了長褲．

contain　－　動詞，｛克制，忍耐｝如：
She could no longer contain her anger and shouted at him uncontrollably.她再也控制不了憤怒，失控地向他大罵．

susceptible　－　形容詞，｛易受影響的｝如：
She isn't very susceptiable to flattery．阿諛奉承對她起不了作用．