We're seeing what they call systemic effects-- that's a very general term that goes beyond insurance.

我们现在看到了它的系统性作用,其影响远远超出了保险业自身

耶鲁公开课 - 金融市场课程节选

The failure of the assumptions in many different industries can create systemic effects.

这些假定的失败,在很多行业都能产生系统性作用

耶鲁公开课 - 金融市场课程节选

By systemic effects, I mean something that affects the whole financial system.

通过这种系统性作用,我指的那种影响整个金融体系的作用

耶鲁公开课 - 金融市场课程节选

Now, you can see why I'm talking about systemic effects.

现在你明白为什么我要说到系统性作用了

耶鲁公开课 - 金融市场课程节选

I'm talking about systemic effects.

现在我要谈到系统性作用了

耶鲁公开课 - 金融市场课程节选