危机期

This year, despite the international financial crisis has not been ice-breaking, many export-enterprise support is still in the winter period, but the excellent enterprises in China are full of confidence, as Corbicula fluminea international market increasingly optimistic about the beginning of the year the price per ton has risen 70 U.S.

今年，尽管国际金融危机还未破冰，众多以出口为支撑的企业还处于寒冬期，但是佳华企业却信心满满，因为河蚬的国际市场行情日趋看好，年初每吨价格已上涨70美元。

Derivatives also create a daisy-chain risk that is akin to the risk run by insurers or reinsurers that lay off much of their business with others. In both cases, huge receivables from many counterparties tend to build up over time.(At Gen Re Securities, we still have $6.5 billion of receivables, though we've been in a liquidation mode for nearly a year.) A participant may see himself as prudent, believing his large credit exposures to be diversified and therefore not dangerous. Under certain circumstances, though, an exogenous event that causes the receivable from Company A to go bad will also affect those from Companies B through Z. History teaches us that a crisis often causes problems to correlate in a manner undreamed of in more tranquil times.

衍生性金融商品交易也有可能造成骨牌效应的风险，这是因为许多保险业及再保业者习惯将风险分散给其它保险公司，在这类的情况下，钜额的应收款项将随着交易对象的日趋复杂而持续累积，(以通用再保证券来说，虽然已经经过将近一年的清算期，目前仍有高达65亿美元的应收款项流通在外)，交易的一方或许对于自己相当有信心，认为其钜额的信用风险已经经过适度的分散，因此不会发生任何危险，只有等到某种特殊状况下，一个外部事件导致 A 公司的应收帐款发生问题，从而影响 B 公司，乃至于一路到 Z 公司，历史教训告诉我们危机的发生往往是我们在太平盛世时所梦想不到一连串问题串连所导致的。

The need to meet this demand can then throw the company into a liquidity crisis that may, in some cases, trigger still more downgrades. It all becomes a spiral that can lead to a corporate meltdown. Derivatives also create a daisy-chain risk that is akin to the risk run by insurers or reinsurers that lay off much of their business with others. In both cases, huge receivables from many counterparties tend to build up over time.(At Gen Re Securities, we still have $6.5 billion of receivables, though we've been in a liquidation mode for nearly a year.) A participant may see himself as prudent, believing his large credit exposures to be diversified and therefore not dangerous. Under certain circumstances, though, an exogenous event that causes the receivable from Company A to go bad will also affect those from Companies B through Z. History teaches us that a crisis often causes problems to correlate in a manner undreamed of in more tranquil times.

衍生性金融商品交易也有可能造成骨牌效应的风险，这是因为许多保险业及再保业者习惯将风险分散给其它保险公司，在这类的情况下，钜额的应收款项将随着交易对象的日趋复杂而持续累积，(以通用再保证券来说，虽然已经经过将近一年的清算期，目前仍有高达 65 亿美元的应收款项流通在外)，交易的一方或许对于自己相当有信心，认为其钜额的信用风险已经经过适度的分散，因此不会发生任何危险，只有等到某种特殊状况下，一个外部事件导致 A 公司的应收帐款发生问题，从而影响 B 公司，乃至于一路到 Z 公司，历史教训告诉我们危机的发生往往是我们在太平盛世时所梦想不到一连串问题串连所导致的。

However, during this period, a military crisis was avoided in part because US policy emphasized dual deterrence.

然而，在此一时期得以避免军事危机的部分原因是因为美国的政策强调双重吓阻。

Worried that a cash crunch could force AIG into bankruptcy, some of its counterparties have been trying to hedge their exposures by buying credit-default swaps tied to AIG's debt from other large banks.

由于担心这一现金危机可能会导致AIG陷入破产，该公司很多交易对手都试图从其他大银行购买与AIG债务相关的信用违约掉期，以此对冲他们的风险。

There is, however, another and more disturbing parallel between 2008 and 1932 - namely, the emergence of a power vacuum at the height of the crisis. The interregnum of 1932-1933, the long stretch between the election and the actual transfer of power, was disastrous for the U.S. economy, at least in part because the outgoing administration had no credibility, the incoming administration had no authority and the ideological chasm between the two sides was too great to allow concerted action.

不过，2008年和1932年还有一个更令人不安的共同点，也就是在危机高峰时出现权力真空。1932-1933年间的那次空窗期，从选举结束到实际权力转移之间的空档拉得很长，对美国经济是一场灾难，一部分归因於将下台的政府没有信用，将上任的政府又没有权力，而且双方的意识形态鸿沟太大，没有联合行动的空间。

There is, however, another and more disturbing parallel between 2008 and 1932 - namely, the emergence of a power vacuum at the height of the crisis. The interregnum of 1932-1933, the long stretch between the election and the actual transfer of power, was disastrous for the U.S. economy, at least in part because the outgoin administration had no credibility, the incoming administration had no authority and the ideological chasm between the two sides was too great to allow concerted action.

不过，2008年和1932年还有一个更令人不安的共同点，也就是在危机高峰时出现权力真空。1932-1933年间的那次空窗期，从选举结束到实际权力转移之间的空档拉得很长，对美国经济是一场灾难，一部分归因於将下台的政府没有信用，将上任的政府又没有权力，而且双方的意识形态鸿沟太大，没有联合行动的空间。

Crisis of international moneta...

n。疾病的转折点，决定性时刻，危机，危险期，历史上的紧要关头，危象，转换期

With the rationality of the Kuomintangs system disappeared, both crisis from inside the system and pressure from outside increased continuously, and the old politics system entered the aging period. For the sake of change and existence, Kuomintang had to lift the party prohibition policy that existed for dozens of years, cancel the prohibition command, and began the transition from autarchy to democracy.

伴随着国民党威权体制合理性的流失，其来自体制内的危机和体制外的压力不断增大，旧的政治体制进入了老化期，为了求变图存，国民党被迫解除了几十年的党禁政策，取消了戒严令，开始了由专制向民主的过渡。

When when finance storm comes over, this game company manager special the viewpoint that agrees with media: Global banking crisis already promoted Chinese export quick-freeze period.

当金融风暴袭来之时，这位游戏公司老总非常同意媒体的观点：全球金融危机已将中国出口推入速冻期。

The basic concept of FOP can be summarized as to further optimize effective prescription according to the standard of curative effects and with the aid of modern science and technology and theories of traditional Chinese medicine.

其基本内涵可概括为：以确有疗效的中药复方为研究对象，以现代科学技术和传统中医药理论为技术支持，以该复方所治病证的药效响应为评价标准，以优化重组疗效更优的新复方为研究目的。

Ever since our world has been a world, native forests have been indiscriminately exploited by man.

自从我们的世界一直是世界原生森林被任意剥削人。