The housing sector in the United States, you might say, is completely different from municipal bond insurers; but when the housing sector starts going down, people start defaulting on their mortgages.

你可能会说，美国房地产，是与市政债券保险公司完全不同，但是当房地产行业开始衰退，人们就开始对抵押贷款违约。

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Like like Zhenhua Europe and the United States deliberately intruded into the Chinese construction market for companies must understand credit with a bank guarantee bond different.

对于像振华一样有意闯入欧美建筑市场的中国公司来说，必须要了解信用保函与银行担保的不同。

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The housing sector in the United States, you might say, is completely different from municipal bond insurers; but when the housing sector starts going down, people start defaulting on their mortgages.

你可能会说,美国房地产,是与市政债券保险公司完全不同,但是当房地产行业开始衰退,人们就开始对抵押贷款违约

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