而只有到了今天，当我们从那场集体狂欢中醒来，我们才开始将认知盈余看作一项资产而不是一场危机。
And it's only now, as we're waking up from that collective bender, that we're starting to see the cognitive surplus as an asset rather than as a crisis.
购并富国公司三个最大的新兴市场国家是中国、阿联酋和新加坡，他们都拥有数额巨大的流动账户盈余，用以购买外国资产的所有权。
The three largest emerging-market buyers of rich-world firms, China, the United Arab Emirates and Singapore, all run large current-account surpluses and so acquire claims on foreigners.
绝大部份的新兴经济体在本轮都在资本项目下有盈余，但是这也使得他们的资产被廉价的出售了。
Most emerging economies have run current account surpluses in this cycle - but their assets are likely to be sold off along with the others.
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