2020-02-09 The tigers' future-fearful symmetries.

macroprudential 宏观审慎

macroprudential regulation 宏观审慎监管

macroprudential indicators 宏观审慎指标

例：

Compared with Japan during its bubble years, tigers are paragons（模范） of financial conservatism. Since the market mayhem（骚乱、混乱） of the Asian financial crisis of 1997-98, they have insisted on big capital buffers（缓冲） for their banks and pioneered macroprudential limits on borrowing.

与泡沫时期的日本相比，它们堪称金融保守主义的典范。自1997-1998年亚洲金融危机造成市场动荡以来，它们坚持为自己的银行提供大量资本缓冲，并开创了对借款实行宏观审慎限制的操作。

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counterproductive 使达不到预期目标的

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Hong Kong has established itself as the financial conduit（渠道） between China and the world.

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The tigers also matter to the rest of the world. Their record in their boom years remains a vital reference for other developing countries trying to get ahead. Their experience over the past two decades shows how countries can climb from middle-income level to greater heights. Of particular interest to the developed world will be their record in the coming few decades.