最近全球债券市场上私营公司发行债券的势头趋于看涨，这是因为银行和公司借款者(corporate borrowers)之间产生“脱媒现象”(disintermediation)或者叫“逆中介化现象”(即指资金需要者采取发行证券而不是采取向金融机构借款的方式筹措资金)。
The markets are seeing a rising trend of securities being issued by private companies, a result of the disintermediation between the banks and corporate borrowers.
近代中国历史上的湖南现象，即指在社会转型期湖南乡土社会呈现出来的独特的典型的历史征象；
The "Hunan Phenomenon"in the modern Chinese history refers to the peculiar and typical historical indication manifested by Hunan local society during the social transitional period.
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