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2019年06月19日 22:21:16来源:医苑知识

Osteria IIson,is that right?YesOsteria IIson 这么读对吗 对的how do you feel all those picture I just show to everybody else?Im scared,I bet you are你觉得我刚才展示给大家的照片怎么样 吓到我了 你肯定吓着了I bet you very scared,can you guss what picture Im gonna show我确定你肯定吓坏了 你能猜出我会展示哪张照片么I picked thousand that I have,oh really我贴了成千上万张 哦 真的吗I just saw one that I thought that was really really worth showing我只看到了一张 我觉得真的真的值得一秀Well lets just show it好吧 我们来看看吧Thats not me,thats just one of my friend这不是我 只是我一个朋友I dont care,Im not asking you to come down here我不管 我又没让你下来这Thats called ;face;book,who is that这叫“脸”书 这人是谁Lets get to the bottom of this,who is this我得刨根问底了 这人是谁Its one of my best friend Michel Luis我其中的一个最好的朋友MichelIm blessing his face all he probably watch this我在想他的脸 他也许在看这个We are hiking on mount Ail on national park我们在国家公园爬Ali山we cilmb very dangerous rocks up to,that sign is ;hidden canyon;我们爬了那些非常奇险的石头 看到了牌子上写的“内有峡谷”This is the post that he gives me这是他给我的照片Well he has a very pretty lady butt is what he has,very pretty恩 他有个很美的女人屁股 非常漂亮All right,All right,I bet after you show all the stuff好吧 好吧 我相信在你们展示了这些东西后you gonna all change your privacy settings Im sure我确定你们都会改你们的私人设置的and those of you who I didnt show,congratulation I didnt show them还有一些我们有展示的 恭喜你们 我没有展示But if I did show your picture today,you gonna get a brand new computer,you gonna get a brand new Acer laptop但是我今天展示图片的那些人 你们将会得到一台崭新的电脑 你们会得到一台崭新的宏基笔记本For those of you who didnt get the picture show lets dance那些没有让我展示照片的人 我们跳舞吧 /201607/452804。

  • Hitler talked to the German nation as Chancellor on 10th February 1933.1933年2月10日,希特勒以德国总理身份向全国人民发表演说。Thousands were in the hall in front of him,and millions were listening on radio.现场聚集数千观众同时数百万人收听广播。But Hitler made them all wait.但他让所有人等着。When he did start,Hitler stuck to his old familiar script.终于开口时,演讲仍参照已滚瓜烂熟的旧稿。His speech was vague in detail and called for Germans to fix their problems without outside help.他的演讲空洞无物,只号召人民自力更生,不求外界帮助。But if Hitler didnt consider you a ;true; German,then, suddenly, you were at risk.若希特勒没有把你当作真正德国人,那你就命悬一线了。Thousands of people the Nazis considered enemies of the new regime,mostly their political opponents, but also some Jews,were imprisoned in concentration camps.纳粹分子将数以千计的人,当中大部分是政敌,还有些犹太人关进集中营。This one at Dachau outside Munich was opened just weeks after Hitler became Chancellor.离慕尼黑不远的达豪集中营在希特勒任总理数周后投入使用。 译文属201512/413885。
  • Human rights and Europe人权和欧洲Playing to the right为权利上演的“宫心计”The Conservativesplans to reform human-rights laws are a muddle保守党针对人权法案的改革计划如今还是一团糟“UNWORKABLE”, “contradictory” and “incoherent”. Those were among the epithets that have greeted the Conservative Partys plans to reform Britains human-rights laws. The Tories have long wanted to scrap the Human Rights Act (HRA), passed in 1998 by a Labour government. On October 3rd Chris Grayling, the justice secretary, promised to do just that as the Tories gear up for a May election in which the Eurosceptic UK Independence Party (UKIP) threatens to lure away voters. In fact, the reforms will change less than supporters hope or critics fear.“不切实际”、“相互矛盾”又“杂乱无序”。这些词汇都是舆论对保守党改革英国人权法案计划的反应。一直以来保守党都想废除人权法案(HRA),该法案于1988年被工党政府通过生效。司法部长克里斯格雷林于10月3日承诺此种举动仅是保守党为了一个“五月的选举”做准备,对此选举最反欧的英国独立党(UKIP)扬言会拉拢选民。实际上,此项改革能改变的远不到持者所期望的或是批评者所担忧的那样。The HRA incorporated into British law the European Convention on Human Rights (ECHR), which Britain signed (and helped to draft) more than half a century ago. The act allowed Britons to pursue human-rights violations in British courts, rather than going to the European Court of Human Rights in Strasbourg. Although demonised by the Tories as European interventionism, the HRA actually made it more likely that human-rights cases would be heard in domestic courts, albeit in the light of internationally agreed principles.英国HRA将纳入大英律法,它于半个多世纪前签署(并协助起草)后缔结成欧洲人权公约(ECHR)。此项法案允许英国人在英国法庭之上追究人权侵害之责,而免于奔赴位于斯特拉斯堡的欧洲人权法院。虽然保守党将该法案歪曲成了欧盟干涉主义,但是根据国际公认的原则,HRA实际上更加使得有关人权的案件能在国内法院受审。Several decisions by the European court have particularly upset the Conservatives. The court ruled that Britains ban on any prisoners voting was unlawful; it laid down that whole-life sentences should be subject to review; and it insisted that Abu Qatada, accused of terrorist offences, should not be deported to Jordan without guarantees that neither he nor those giving evidence at his trial would be tortured. Eurosceptics and British tabloids have seized on these cases as evidence of European meddling in British affairs.欧洲法院所做出的一些决议,犹使保守党焦躁不安。法院规定,英国针对囚犯投票的任何禁令是违法的;它主张有关终身性的判决应该受到审查;而且法院坚持认为在没有对他或是其他与审判庭上提供据的人免受责难的担保之下,被指控恐怖主义犯罪的阿布卡塔达不应被流放到约旦。欧洲怀疑论者和英国的小报抓住这类案件作为欧盟干预英国事务的据。The Tories say they will replace the HRA with a new Bill of Rights. They argue that Britain has a long history of its own human-rights laws (including Magna Carta) and that the European court is overreaching. The Conservatives want to limit the rights of individuals (notably foreigners) under the convention in certain circumstances. The European courts judgments would be merely advisory as far as British courts are concerned. If the Council of Europe, the guardian of the convention, refuses to accept these changes, Britain would withdraw from the convention.保守党表示他们将以一个全新的权利法案替代HRA。他们认为,英国在很长一段历史上拥有自己的人权法案(包括《大宪章》)但欧洲法院如今过分干预。遵从公约为前提,保守党希望在某些情况下限制个人权利(特别是外国人)。只有英国法院还是有些忠实的,那么欧洲法院的判决也仅是参考而已。如果欧洲理事会—公约的监护者—拒绝接受这样的改变,英国将退出该公约。In fact the ECHR has less legal power than first appears. International treaties are difficult to enforce, and the court cannot force Britain to change its laws even now. Prisoners do not have the vote despite the courts objection to Britains ban. The main problem is political; other members of the Council of Europe may not want to put up with Britain continually ignoring the courts rulings, as the Tories proposals suggest they might.实际上,相较于ECHR的首次亮相,如今它拥有的法律权力弱了很多,国际条约难以强制执行,即使现在法院也不能强制英国改变它的法律。尽管法院反对英国的禁令,但是囚犯还是没有投票权。这主要是因为政治性问题;由于保守党的提议表明他们可能会继续无视欧洲法院的裁定,而其他欧洲理事会成员国也可能不想容忍英国的这种无视。Nor has European human-rights legislation proved as restrictive as critics suggest. In 2012, of 2,146 foreign offenders ordered to be deported, just 256 successfully appealed on human-rights grounds. In the 16 years since the HRA came into force, domestic courts have made 28 “declarations of incompatibility”, holding that British laws conflict with the European convention. In 2013, of 1,652 British cases dealt with in Strasbourg, judges found violations in just eight.欧洲的人权立法也不如批评家们指明的限制性。2012年,在被命令驱逐的2146名外国罪犯中,仅有256名成功的以人权缘由上诉。自HRA生效施行的16年间,国内法院给出了28 次有关“无法兼容的通告”,认为英国法律与欧洲公约存在冲突。2013年,在斯特拉斯堡处理的1652起英国案件中,法官发现仅有8起出现违规。Without the HRA, the liberties enshrined in the European convention would still apply to Britons, who would then have to revert to going to Strasbourg about human-rights violations, as they did before its introduction. If the promised Bill of Rights were at odds with the convention, appeals would multiply.没有HRA,欧洲公约中的一些自由许可可能仍旧适用于英国人,随之英国人就必须恢复到奔赴斯特拉斯堡处理人权侵害的问题—就像在签署公约之前一样做。若是承诺的权利法案与公约还是存在冲突,上诉可能会增多。Even if it ditched the ECHR, Britain would still be bound by the EUs Charter of Fundamental Rights, which draws on the convention. It would also remain bound by other international treaties. The UN Convention against Torture prohibits deporting people to places where they maybe abused. The Declaration of the Rights of the Child makes expelling foreign criminals with offspring in Britain tricky. And, since the act was passed, at least some of the convention rights–such as those not to be tortured or held indefinitely without charge–have become more firmly rooted in English common law (which is based on precedent), argues Philippe Sands, a law professor at University College London.即使英国挣脱了ECHR,它还是会受到《欧盟基本权利宪章》的限制,因为该宪章的制定借鉴了欧洲人权公约。英国同样会受到其他国际条约的制约。《联合国禁止酷刑公约》表明,禁止将人流放至他们可能受虐的地方。儿童权利宣言使得驱逐外国罪犯同时要机警处理他们在英国的后代。而且自从人权法案被通过,至少有一部分公约的权利—像是那些没有被虐待或是并无指控无限期收监的人—会变得越来越扎实的植根在英国普法之中(基于先例的普通法律),来自伦敦大学的法学教授菲利普桑斯如是表明。Devolution complicates matters further. The convention is incorporated into devolution legislation and the Good Friday agreements in Northern Ireland. Scottish police could therefore become subject to different human-rights obligations for crimes for which Westminster has responsibility (terrorism, say) and for those devolved to Scotland (most other offences). Having survived the Scottish vote on independence, the Conservatives proposals may shake the union again.权力下放会使事情更加复杂化。公约被纳入授权立法和《北爱和平协议》。因此,苏格兰警方会遵从于不同的人权责任针对那些英国议会责任的罪犯(恐怖主义),和那些被移交至苏格兰的罪犯(大部分因为其他罪行)。在苏格兰独立公投中胜利了,保守党的提议可能会再一次撼动这个联合王国。Yet for those who bemoan Europes influence, the court is a lightning rod for discontent. The Tory proposals look like a sop to them, ahead of an election. But the message that such changes would send is a bad one. Five countries, led by Russia and Turkey, were responsible for more than half the violations found by the European court last year. Getting them to comply with its rulings will be harder if Britain will not do so. For citizens of countries less committed to the rule of law than Britain, the court sometimes offers a final hope.然而对于那些哀叹欧洲影响力的人来说,欧洲法院就是他们宣泄不满的“避雷针”。在选举之前,保守党的提议看似安抚了他们。但是这种变化发出的信息走势并不好。由俄罗斯和土耳其领导的五个国家,要对在去年由欧洲法院发现的一半以上的违规行为负责。如果英国不愿遵守裁决,那么要让这五国一起依从裁决将会变得难上加难。鉴于相较于英国,这五个国家的公民那较弱的坚定程度,偶尔给法院还带去了最后的希望。译者:张娣 校对:周晓婷译文属译生译世 /201506/382891。
  • HS: London v Hong Kong汇丰:伦敦VS香港East is Eden东方伊甸园Bankings longest, and most successful, identity crisis业历时最久,最为著名的身份认知危机HS—one of the two most pivotal banks in the global financial system, according to regulators, alongside JPMorgan Chase—exudes permanence. Its buildings are guarded by lions cast in bronze which passers-by touch for luck. HS has never been bailed out, nationalised or bought, a claim no other mega-bank can make. It has not made a yearly loss since its foundation in 1865. While its peers took emergency loans from central banks in the crisis of 2008-10, HS, long on cash, supplied liquidity to the financial system.在监管机构眼中,汇丰与根大通并列是全球金融体系中的两大中枢,汇丰的行业地位坚不可摧。青铜雄狮像守卫着汇丰的办公大楼,路人经过时会抚摸青铜像,沾点运气。汇丰从未需要获取资金援助以摆脱困境,也不曾被收归国有或被收购,这是其它大所无法做到的。自1865年成立以来,汇丰就未曾有过年度亏损。在2008年至2010年的金融危机中,同行均向中央申请紧急贷款,而现金充足的汇丰则为整个金融体系提供了流动资产。Yet behind that invincible aura lurks an insecurity: where is home? When Western and Indian merchants founded the bank in Asia in 1865, they considered basing it in Shanghai before settling on Hong Kong. Faced with wars, revolutions and the threat of nationalisation, the bank has chosen or been compelled to move its headquarters, or debated it, in 1941, 1946, 1981, 1986, 1990, 1993, 2008 and .然而,无敌光环背后却潜藏着不安因素:何处是家?1865年,西方及印度商人在亚洲创立汇丰,他们一开始是打算将总部设在上海的,后来才在香港扎根。面对战争、革命及国有化浪潮的威胁,汇丰曾在1941年、1946年、1981年、1986年、1990年、1993年、2008年及年选择搬迁或被迫搬迁总部地址,又或就此进行讨论。HS believes its itinerancy explains its survival. Countries and regimes come and go. The bank endures. Now its decision time again. The results of a ten-month review of its domicile are likely to be announced on February 22nd. The main choice is between staying in London—where HS shifted its holding company in 1990-93, in anticipation of the return of Hong Kong to Chinese sovereignty in 1997—or going back to its place of birth.汇丰相信,总部地址的巡回变迁阐述了其生存之道。家和政权兴衰变迁,汇丰屹立不倒。如今又到了做决定的时候。在经过长达10个月的总部地址回顾历程之后,汇丰很可能会于2月22日宣布其最终决定。最佳选址有两个:要么是伦敦——汇丰曾在1990年至1993年期间其母公司转移至此,要么是回到香港——1997年回归,汇丰最初成立的地方。The decision is partly about technicalities: tax, regulation and other costs. But it also reflects big themes: Londons status as a financial centre, the dominance of the dollar and Hong Kongs financial, legal and political autonomy from mainland China, which is supposedly protected until 2047 under the pledge of “one country, two systems”. HSs most recent move, from Hong Kong, was announced on the radio by Chinas premier of the day, Li Peng. Its return would be news too, a coup for China when its economic credibility is low. For Britain, the departure of its largest firm would be an embarrassment.该决定部分涉及到技术性细则:税收、监管及其他成本。但同时也反映了核心主旨:伦敦作为金融中心、美元的主导城市,而香港独立于中国大陆拥有的金融、法律和政治自治权。在“一国两制”体系下,该自治权将得到合法保障,直至2047年为止。原国务院总理李鹏曾在广播中宣布汇丰搬离香港的最新举措。同样地,它的回归也会是一大新闻,这是中国在经济信用低迷情况下的转折。对英国人而言,其最大公司的离开,也将会是一件尴尬事儿。That HS is considering moving at this moment may seem astonishing; it is knee-deep in a restructuring. Since taking the helm in 2011 Stuart Gulliver has reversed the empire-building that took place in the 2000s to refocus the bank on financing trade. He has sold 78 businesses and almost halved the banks exposure to America. Vast sums have been spent on compliance systems after the bank was fined for money-laundering in Mexico.汇丰此时考虑改址的举动令人感到惊讶,因为它目前正深陷重组风波。欧智华自2011年开始掌控汇丰以来,修正了汇丰在21世纪初的金融帝国打造途径,以重新将重心转回金融务贸易。他已经出售了78项业务,并将对美业务规模收缩近50%。汇丰在涉嫌墨西哥洗黑钱而被罚款事件发生后,已斥巨资完善合规体系。The groups return on equity hovers at 8-11%—poor by its standards but on a par with JPMorgan Chase. Outside Asia, returns are about 5%. To raise them, Mr Gulliver is inflicting a new dose of austerity, with big cuts at its investment bank. Retreat from the Western hemisphere has freed resources for Asia, where risk-weighted assets have soared by half since 2010.汇丰的净资产收益率在8%~11%之间徘徊,并未达到其设定的标准,但与根大通水平相当。在亚洲地区之外,回报率均在5%左右。为了提高回报率,欧智华先生正实行一系列紧缩措施,大力削减投行业务规模。汇丰从西半球撤退,为在亚洲发展释放了资源。自2010年以来,亚洲地区的风险加权资产已激增了一半。HSs seesawing skew towards Asia is one of four factors that explain its 151-year quandary over where it should be based. The others are the ethnicity of its managers, Britains love-hate relationship with finance and the status of Hong Kong.汇丰总部应落地何处,这一难题困扰了151年之久。汇丰对亚洲摇摆不定的态度是造成这一现象的四大原因之一,还有就是:管理层的种族、英国与金融之间爱恨交织的关系、还有香港的地位。In the 1980s all four pointed to London. The bank was diversifying into America and Europe (by 2004 Asia yielded just a third of profits). London felt natural to the cadre of expatriate Brits that ran it. Britain was welcoming, particularly after HS bought Midland, a local lender. And HS was cushioned from the danger that China would rip up the agreement over Hong Kong. “As night follows day...we would become a Chinese bank,” the banks chairman at the time said about keeping its domicile in the territory after 1997.在20世纪八十年代,这些原因都直指伦敦。当时汇丰正向美国及欧洲拓展多样化业务(到2004年为止,汇丰在亚洲地区利润仅占全球利润的三分之一)。伦敦对于运行业务的英国侨民中的骨干精英,感到天然亲近。同时,英国也欢迎这一类人,尤其是在汇丰收购当地的米特兰后。汇丰也得以缓解中国有可能撕毁就香港问题而起草的协议所带来的冲击。“当夜幕降临,我们会成为一个属于中国的,”汇丰主席当时,关于在1997年之后继续将汇丰的总部设定在此领土上如是说道。Three of the four factors now point back towards Asia. Asia yields 60% of profits. This could rise to 75%. Mr Gulliver plans a big push in the Cantonese-speaking Pearl River delta. Rising interest rates would boost lending margins most in Asia, which has a surplus of deposits, which need not be repriced as quickly as debt. HS is far more Asian than its Western rivals (see chart). Not even a hard landing in China, a banking crisis there or a devaluation of the yuan would alter that.四个因素中就有三个是指回亚洲的。亚洲的盈利额占比60%,还可能继续涨到75%。欧智华先生在珠三角粤语区制定了极大力度的推进计划。提高利率将会促进亚洲的借贷边际,而亚洲的储蓄过度,这些存款无需像债务一样要很快地进行重新定价。与西方的一些竞争对手相比,汇丰更加亚洲化(见图表)。危机或者人民币贬值都会改变这种状况,更不用说是在中国硬着陆了。HSs management is now multi-national, although its board has too few Asians on it. (Simon Robertson, its deputy chairman, is also a director of The Economist Group.) AIA, an insurance firm, moved to Hong Kong after it was spun out of American International Group in 2010. It shows it is possible to domicile a big finance firm there that is not Chinese-run.尽管汇丰的董事会中的亚洲成员很少,管理层也是由多国成员组成。(汇丰副主席西蒙·罗伯逊兼任经济学人集团理事一职。)自2010年被美国国际集团分拆之后,友邦保险公司就转移到了香港。这表明大型金融公司不由中国人管理,也有在香港定址的可能性。And Britain has got hostile. Briefly after the crisis public and elite opinion distinguished between the British banks that blew up and those that did not. Having a bank so plugged into emerging markets was seen as strategically helpful. But now HS (cumulative profits of 1 billion since 2007) is often lumped in with the likes of Royal Bank of Scotland (cumulative losses of billion), a target of attacks from foaming parliamentary committees and a hatchet-wielding media. Critics worry that British depositors and taxpayers subsidise the bank by funding its foreign operations and implicitly guaranteeing its liabilities. This is the rationale behind Britains levy on banks global balance-sheets, which costs HS .5 billion a year, or about a tenth of profits. It also underpins the requirement that banks ring-fence their British retail arms, which will cost HS billion.而且英国也产生了敌意。在这次危机之后,大众和精英阶层将那些言过其实和名副其实的英国进行了划分。从战略上看,一个能够在新兴市场上立足是非常有帮助的。但是现在汇丰(自2007年以来累计收益为1010亿美元)经常与苏格兰皇家(累计亏损为800亿美元)这类归并同类,而苏格兰皇家则是那些夸夸其谈的议会议员和唇舌剑的媒体攻击的对象。批评者担心那些英国的储户和纳税人会通过资助其海外行动或暗中担保其负债以资助该行。这是英国应对全球资产负债表的理论基础,为此汇丰每年花费15亿美元,相当于利润的十分之一。这也撑了英国的零售业务的专款需求,为此花费汇丰20亿美元。Yet these policies duplicate others designed to tackle the same problem, including capital surcharges, stress tests, living wills and a push to “bail in” bondholders when disaster strikes. And they ignore HSs safety-first structure. It has more cash than it owes in debt (bonds and loans from other banks). It is aly run in self-reliant geographic silos. And 68% of its deposits are raised outside Britain. Arguably the subsidy flows in the other direction, from Asian savers who are providing cheap funds to Britains financial system.然而这些政策也只是复制其他用来解决同样问题的策略,包括资本附加费、压力测试、“生前遗嘱”制度以及应对危机的自救性债券。而且这些政策也忽略了汇丰安全第一的体系。相对于负债,其拥有的资金更多(其他的债券和贷款)。汇丰已经在其自主的领域独立运行,而且68%的存款来源于英国以外的地区。然而对于从提供廉价基金的亚洲储户流入英国的金融体系补贴资金流向另外的方向,仍有所争议。George Osborne, Britains chancellor, has belatedly turned on the charm. In July he tweaked the levy and the tax regime—although not by enough to make much difference to HS over the next five years. The financial watchdog has been shaken up, and Mark Carney, the boss of the Bank of England, which has ultimate responsibility for the banks, has hinted that they have enough capital.英国财政大臣乔治·奥斯本最近小露一手,虽然迟了一点儿。七月份他稍微调整了征税体系,尽管这样的小动作不足以在五年内对汇丰造成足够的影响。但金融监察体系已经得到整顿,而且对各承担最终责任的英格兰行长马克·卡尼也暗示他们已经拥有足够的资金。But unless the government concedes that the size of HSs global balance-sheet is not a gauge of its risk to Britain, HS will worry that its size is capped. Asia will grow faster than Britain, and thus so will the banks assets. If the bank is too big for Britain today, with assets equivalent to 89% of GDP, what will it look like in 2030? A British exit from the European Union would complicate things further, requiring HS to beef up operations in France or Germany (although it would have to do this whether based in London or Hong Kong).但是除非政府认同汇丰的全球资产负债表的规模并非是衡量其带给英国风险大小的标准,汇丰还是会担心其规模达到上限。亚洲的发展速度将会超过英国,的资产也将是一样。如果对于现在的英国来说,拥有相当于国民生产总值89%的资产的汇丰规模太大了,那么到2030年又会是什么样呢?英国退出欧盟会使情况变得更加复杂,这就要求汇丰增强在法国或德国的运营(即使无论是定址于伦敦还是香港汇丰都需要这样做)。What about the fourth factor, Hong Kong? It has changed a lot since Mr Gulliver first lived there in the 1980s. The skyscrapers of Chinas opaque lenders, Bank of China and IC, now loom over HSs building, beneath which pro-democracy protesters camped during the Occupy Central movement in 2012.那么第四个因素——香港呢?自欧智华先生于上世纪八十年代在香港定居时起,已经诸多变化。中国的不透明、中国和工商的天大楼已经盖过了汇丰的建筑——楼下也就是2012年要求民主的占中运动抗议者安营扎寨的地方。Hong Kongs government would welcome the bank back, as would its regulator, the Hong Kong Monetary Authority (HKMA). Moving to Hong Kong would probably cut HSs tax bill and capital requirements a bit and the degree of regulatory and political friction a lot. It might also help HSs ambitions on the mainland, although it aly has a privileged spot there—the largest presence of any foreign bank. Like Hong Kong, HS wants to be close to China but not integrated with it. Head-to-head competition with the coddled mainland banks would be suicidal.香港政府会向汇丰张开双臂,香港金融 (HKMA)态度也是如此。迁址香港,汇丰得到的税款减免和资本要求方面得到的好处不多,但面临的监管和政治压力却比在英国小得多。同时,总部设在香港能帮助汇丰实现拓展大陆业务的雄心,尽管汇丰目前已经成为内地市场占有率最大的外国。和香港对大陆的态度一样,汇丰想要接轨内地市场,但不要融入其中。与受到万千宠爱的内地硬碰硬的竞争无异于自杀。The logistics of a move would be less daunting than you might think. Half of HSs business aly sits in a subsidiary in Hong Kong that the HKMA regulates. HSs shares are listed in Hong Kong as well as London.迁址产生的变动不会过于令人生畏。汇丰本来就有一半的业务在香港分公司进行,接受HKMA的监管。汇丰的股票也同时在香港和伦敦两地挂牌。But how could the territory safely host a bank nine times as big as its GDP? Hong Kong officials say there are three lines of defence. First, they set more store than Britain on HSs innate strength: its culture, capital and vast pot of surplus cash. Second, they believe that in a crisis its geographical silos would get assistance from the local central bank: the Bank of England would help the British arm, the Federal Reserve the American one, and so on.但是,香港如何安全接纳相当于其GDP九倍的汇丰?香港官员回应称,三道防线可做保障。第一,依靠汇丰的强大企业文化,资本和现金盈余等自有实力,可在香港设立更多,超过英国本土数量;第二,他们相信,如果遭遇金融危机,汇丰各分部均能得到所在国家央行的救助,比如在英格兰的会出手援助英国分行,美联储援助美国分行,以此类推。Last, there are the HKMAs foreign reserves of 0 billion. They exist to protect the currency peg with the American dollar and “the stability and integrity” of its financial system. Were HS ever to cock up as badly as, say, Citigroup has, it might take billion to re-capitalise it—within Hong Kongs capacity. A liquidity run so bad that it drained even HSs cash pile could be harder for the HKMA to manage. It runs a currency board so cannot print Hong Kong dollars in unlimited quantities. HS largely operates in American dollars, which the HKMA cannot create, and unlike the Bank of England, the HKMA does not have a dollar swap line from the Fed.最后一道防线,是香港金融的3600亿美金外汇储备。这项储备能够持港币与美元挂钩的机制,以及保持香港金融系统的“完整与稳定”。如果汇丰面临危机(比如,陷入花旗一样的境地),香港可以完全依靠自主能力,拿出500亿美金为其注资。但极差的流动性甚至可能耗尽汇丰的现金储备,这会让HKMA更加难以应对。香港采取货币发行局制度, 港币不能无限量发行量。汇丰大规模采取美元结算制度,而HKMA无权发行美元,和英格兰不同,HKMA 没有和美联储达成货币互换额度。Wrinkles like this mean that HS would ultimately rely on the unspoken backing of mainland China, with its vast financial resources. Speaking anonymously in August, a mainland official formerly in charge of financial matters said Chinese regulators would expect to have a say over HS. China desperately wants a global bank to represent its interests. Mainland officials might be tempted to meddle.这些问题都意味着汇丰最终还需大陆方面的潜在持,依靠后者大量强大财政资源。匿名人士在八月透露,一位之前掌控金融财政的内地官员说中国监管者希望在汇丰有话语权。中国迫切希望一家跨国代表中国利益。大陆官员希望能插手汇丰的事务。That might annoy American officials, who have become chauvinistic about access to their financial system since the 9/11 attacks and the 2007-08 crisis. HS manages about 10% of the worlds cross-border dollar payments. Its ability to do so is essential to the banks operations. In the event, say, of a military skirmish between America and China, it is not impossible there would be a backlash from Congress and New Yorks populist regulator against a “Chinese” bank having such a privileged role in the dollar system. In 2014 regulators briefly prevented BNP Paribas, a French bank, from clearing dollar transactions.这可能会招致美国方面的不满,9/11恐怖袭击事件和 2007-08金融危机之后,美国官员开始带有沙文主义色地严格管制美国的金融市场准入。汇丰处理世界10%的跨境美元结算,而美元结算资格对汇丰业务运营至关重要。假如,中美之间发生军事擦,可能会引起美国国会和华尔街民粹主义监管者的激烈反应,,抵制一家“中国”在美元系统的特权地位。2014年法国巴黎事件中,美国就直接取消了该的美元交易能力。A move to Hong Kong is thus a risk for HS. It is a bet that China will grow, but that its legal and financial systems will remain backward enough that Hong Kong will still have a vital role as the mainlands first-world entrepot. It is a bet that even as they meddle in Hong Kongs politics and on occasion break its laws, mainland officials will ultimately respect the principle of “one country, two systems”. It is a gamble that America will resist its worst urges. In Hong Kong HS would be a catastrophic mistake away from losing its independence—but then the bank has never made a catastrophic mistake. Viewed from an insular Britain, Hong Kong is dangerous and alluring, just as it was 151 years ago.因此,汇丰迁址香港会面临风险。汇丰需要赌一把—中国经济将继续增长,但其司法和金融系统依然落后,这样香港就仍然能保持作为中国和发达国家交易的贸易中转站。还要赌一把,尽管中国政府仍然干涉香港政治,偶尔在法律上越线,但最终还是会遵照“一国两制”政策。最后还得赌,美国抑制其最坏的冲动。总部设在香港,汇丰若失去自主权,便会走上灾难性的自毁之路;但汇丰从来没犯过重大决策失误。从孤立的英国角度来看,香港就像151年前一样, 充满危险,却让人蠢蠢欲动。翻译:李晶晶amp;许佳amp;王坤 校对:赵容 译文属译生译世 /201602/426931。
  • Sorry, Im late.I was brushing my teeth.对不起,我迟到了。我刚刚刷牙去了!Brushing your teeth! Right before A Moment of Science?Why?刷牙!就在节目开始前!为什么啊?Im trying to get rid of a cavity.防止蛀牙啊!Get rid of a cavity? Are you stuck with a cavity once youhave it?防止蛀牙?你长过蛀牙吗?It depends on how deep it is.这就得看牙被蛀得有多深了。Acid from bacteria in yourmouth can cause your tooth to decay.口腔中的细菌会产生一些腐蚀牙齿的酸性物质。First, the acid eats away the very hard outer layer of yourtooth, called the enamel. Inside the enamel is the dentin.酸性物质会先腐蚀掉牙冠表层的珐琅质(也就是我们所熟知的釉质)。珐琅质所包覆的便是牙本质。Its spongy and has nerve endings, soyour tooth might be sensitive to sweets or cold if the decay reaches there.牙本质不如珐琅质坚硬,其中还含有很多的神经末梢。因而,如果牙本质也受到了腐蚀,牙齿对甜食或是过冷的东西就会很敏感。But the cavity doesnt really start to hurt until it gets through the dentin to the soft pulp. Thatswhen you get a toothache.但是,要等到酸性物质通过牙本质,开始腐蚀牙髓了才会对牙齿造成本质的伤害。这个时候牙齿也就开始疼起来了。Dentists sometimes will fill a cavity by putting in a filling while the decay is still in the enamel.当珐琅质遭到腐蚀时,医生有的时候会采取补牙的方式进行治疗。But decay is reversible until it reaches the dentin. If its properly treated, the decay will stop, and the enamel will harden, although the tooth will never be perfect again.可是,在牙本质遭到腐蚀之前,腐蚀随时都会发生。如果治疗得当,腐蚀将会停止,珐琅质也会重新变硬,美中不足的是,牙齿不会像受腐蚀前那么完美了。So, thats why youre brushing. Can you do anything else to help get rid of a cavity?这就是你刚刚刷牙的原因!你还有其他防蛀牙的办法吗?Dentists can help by giving you a fluoride treatment, but you have to brush and floss regularly.医生还可以为你做氟化物治疗(在蛀牙部位涂上高浓度的氟化物,令初期蛀坏的部分还原),但是,你必须定期洗牙,还要经常使用牙线清洁牙齿。You might have to give up soda and sweets. So its not easy–and dentists know that.另外,什么汽水啊,甜食啊,都必须戒掉。Thats whythey sometimes fill a cavity in its early stages, before it starts to hurt.所以说,做这个治疗并不容易—当然,医生们也是很清楚的。这也是为什么医生会在蛀牙初期的时候为病人补牙,防止酸性物质的继续腐蚀。So, youre not stuck with tooth decay once it happens.Nope. But its better not to let it happen in the first place.这么说,你从来都没有长过蛀牙。当然。但是,“防患于未然”总是好的啊! 201411/344265。
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