旁白：二十世纪初，哈耶克和凯恩斯见证了第一次全球化浪潮。
NARRATOR: At the start of the 20th century, Hayek and Keynes had witnessed the first age of globalization.
《财富》报道——我们步入了美国的第一次全球化经济衰退？我想我们可能是的，但在这之前我想先强调两点。
Are we entering America's first globalization recession? I think we may well be, but before explaining why, I want to emphasize two points.
专家们常常将今天的全球化描述为“第二次全球化”，以便与1870至1914年之间的“第一次全球化”相区别。
Experts often describe today's globalisation as the "second globalisation", to distinguish it from the "first globalisation" between 1870 and 1914.
1870年至1930年间——第一次全球化的伟大时期——拉美表现的比较令人满意，并已略微缩小了与其北部邻国在人均收入上的差距。
Between 1870 and 1930-the first great period of globalisation-latin America did reasonably well, slightly narrowing the income gap with its northern neighbour.
关于近来的不景气，他说，这是“全球化的第一次危机”，需要全球化的解决办法。
The recent recession, he said, was "the first crisis of globalisation", and required global solutions.
关于近来的不景气，他说，这是“全球化的第一次危机”，需要全球化的解决办法。
The recent recession, he said, was “the first crisis of globalisation”, and required global solutions.
关于近来的不景气，他说，这是“全球化的第一次危机”，需要全球化的解决办法。
The recent recession, he said, was “the first crisis of globalisation”, and required global solutions.
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