熊市往往起于繁荣盛世之后：19世纪中期的铁路热，咆哮的二十年代以及网络泡沫。

Bear phases are generally preceded by great booms: the railroad mania of the mid-19th century, the Roaring Twenties, and the Internet bubble.

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这是一个“盛世”，一个繁荣的时代。

It was a shengshi, an age of prosperity.

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正如19世纪英国通过战争向海外殖民一样，它的大都会社会仍然保持着和平和繁荣。 康乾盛世时期，征服战争没有导致国内的崩溃。

Just as Britain fought abroad for coloniesin the 19th century while its metropolitan societies remained peaceful andprosperous, the High Qing era did not see conquest linked with domesticcollapse.

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