但他们频繁强调增长导致放贷过度，正如他们在拉丁美洲所做的，导致大量资产减值和周期性金融危机。
But their emphasis on growth frequently led them to lend excessively, as they did to Latin America, resulting in massive write-downs and periodic financial crises.
在处理日常事务过程中，顺利的双边合作关系和周期性的合作危机掩盖了美日联盟内在的混乱。
On a day-to-day basis, successful bilateral cooperation on both ongoing issues and the periodic crisis of the day belies the notion of an alliance in disarray.
但是在这种周期性背后，这场危机依然留下了印记。
But beneath the cyclical rhythms, the crisis has left its mark.
但2007-08年的世界粮食危机显示粮价并非受单一因素或主要受周期性因素影响。
But the world food crisis of 2007-08 showed that food prices are not influenced solely, or even mainly, by cyclical factors.
不过，当前危机所突出表明的，是伴随银行体系崩溃的周期性衰退，在数量级上要比正常的周期性衰退更为严重。
What the current crisis does underline, however, is that a cyclical downturn associated with a collapse of the banking system is by an order of magnitude worse than a normal cyclical downturn.
在12月份下旬，一直受周期性欧洲经济危机影响而波动的美元重回低位。
In late December, the dollar resumed a decline that has been interrupted only by periodic European crises.
由于教育培训业的反经济周期性，即使危机肆虐，别的行业纷纷受到重创，唯独教育培训市场风景独好。
As the education training industry's anti-cyclical, even if the crisis raged and other businesses had been hit hard, only the market still kept a nice view.
阿根廷大量油气储备尚未开发，部分原因是近几十年政策的不稳定和周期性危机。
Argentina has vast oil and gas reserves that have gone untapped, in part due unpredictable policies and cyclical crises over recent decades.
为何有那么多企业会遭受周期性的危机，波动的销售额，利润，以及士气？
Why do many businesses suffer from periodic crises, fluctuating sales, earnings, and morale?
在这些问题解决之前，周期性生产过剩危机的不时爆发就是不可避免的。
It is inevitable that overproduction will break out from time to time before we have solved all the problems.
不仅周期性的生产过剩危机引起了周期性的信用危机，而且信用危机也加深了生产过剩危机。
Not only periodic cyclical overproduction crisis caused credit crisis, but credit crisis also deepened the crisis of overproduction.
布朗一向都很清楚。不过，当前危机所突出表明的，是伴随银行体系崩溃的周期性衰退，在数量级上要比正常的周期性衰退更为严重。
What the current crisis does underline, however, is that a cyclical downturn associated with a collapse of the banking system is by an order of magnitude worse than a normal cyclical downturn.
布朗一向都很清楚。不过，当前危机所突出表明的，是伴随银行体系崩溃的周期性衰退，在数量级上要比正常的周期性衰退更为严重。
What the current crisis does underline, however, is that a cyclical downturn associated with a collapse of the banking system is by an order of magnitude worse than a normal cyclical downturn.
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