Although the shift from external to domestic borrowing can reduce vulnerability to external shocks, it also carries risks from possible over-borrowing or inadequate supervision.

虽然从借外债转向借内债可以增强对外部冲击的抵御能力，但是也带来可能出现过度借债或监管不当的风险。

youdao

As domestic banking systems mature, moreover, they will be able to meet more of the financial needs so far satisfied by bank borrowing across borders.

此外，随着国内银行系统的成熟，它们将能够进一步满足目前由跨国银行借贷所满足的金融需要。

youdao

And the lessons from past financial crises remain clear - excessive borrowing, whether external or domestic, is risky, and problems in one arena can quickly spill over into the other.

从以往金融危机中得到的教训仍很清楚-过度借债，无论是外债还是内债，都是有风险的，而且一个方面的问题很快就会外溢到另一个方面。

youdao

In a number of countries, the fiscal stimulus can be financed through domestic borrowing.

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For most countries, the interest cost of domestic borrowing is greater than the return on foreign reserves, because reserve currencies tend to pay lower interest rates.

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But if the markets are right that Malaysia is borrowing too much, devaluation with domestic belt-tightening is one remedy.

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