So what might replace Treasury bonds as the global risk-free asset?
那么，什么来取代美国国债成为全球性的无风险资产呢？
Amid global risk aversion and concerns about growth, Huijin's intervention has provided a boost to Chinese bank stocks.
在全球市场规避风险并对经济增长心存担忧的背景下，中央汇金干预市场提振了中国银行股。
And also I may point [out], there are other risks to the outlook, another bout of global risk aversion and rising oil prices or commodity prices.
另外，我认为未来仍有风险，例如全球再次发生危机以及石油和商品价格上涨。
The second big global risk comes from Europe, where Germany's strong performance is coinciding with a debt crisis on the European Union's periphery.
第二大的全球性风险来自欧洲，而德国经济的强劲表现与欧盟边缘国家的债务危机同时出现。
It has gained much more against the dollar this year than has the euro, because increased global risk aversion has reduced the attractiveness of carry trades.
今年日圆对美元升值比对欧元还要多，因为，不断上升的全球危机规避，降低了套息交易的吸引力。
Since America is the world's largest economy, has the most liquid financial markets and operates the world's premier reserve currency, the Treasury bond has been seen as the global risk-free asset.
美国是全球最大的经济体，拥有流动性最强的金融市场，管理着全球最重要的储备货币，因此，美国国债已经被视为一项全球性的无风险资产。
You may bring global temperatures back to pre-industrial levels, but the risk is that the poles will still be warmer than they should be and the tropics will be cooler than before industrialisation.
全球气温可能会回到工业化前的水平，但风险是两极的温度仍将高于正常水平，而热带地区的温度将比工业化前的要低。
Hundreds of scientists, writers and academics sounded a warning to humanity in an open letter published last December: Policymakers and the rest of us must engage openly with the risk of global collapse.
在去年12月发表的一封公开信中，数百名科学家、作家和学者向人类发出了警告：政策制定者和我们其他人必须公开应对全球崩溃的风险。
Global supply chains are at risk of fragmenting, at huge cost to companies whose production networks are spread all over the world.
全球供应链面临支离破碎的危险，那些生产网络遍布世界各地的公司将为此付出沉痛代价。
That may temper worries in the emerging world but at the risk of pushing the global economy back into recession.
这样做可能会缓和新兴市场的忧虑，但是却冒着将全球经济再次推向萧条的风险。
For another risk lies in the subtle distinction between "global warming" and "climate change".
另一个风险隐藏在“全球变暖”和“气候变化”的微妙差别之中。
For another risk lies in the subtle distinction between “global warming” and “climate change”.
另一个风险隐藏在“全球变暖”和“气候变化”的微妙差别之中。
Yet the risk of global conflagration is past. For those intent on peace and security, let alone that nuclear-free future, bigger dangers lurk.
尽管，全球大灾难的风险已过，对那些希望和平与安全（更不说无核未来）的国家来说，更大的危险仍然潜在。
Finally, use cases even help to alleviate the strains of global resourcing by reducing the requirement-to-implementation "translation" risk when using global solution teams.
最后，当利用全球方案团队是，用例甚至可以通过减小需求到执行的“转换”风险帮助减轻全球化资源的压力。
Overweight and obesity are the fifth leading risk for global deaths.
超重和肥胖是全球引起死亡的第五大风险。
Global warming adds another layer of uncertainty and risk.
全球变暖又增加了一层不确定因素和风险。
By focusing on reducing environmental risk factors, nearly a quarter of the global burden of disease can be prevented.
以减少环境危险因素为重点，可以防止出现四分之一的全球疾病负担。
"Our findings suggest that king penguin populations are at heavy extinction risk under the current global warming predictions," the study's authors wrote.
“我们的研究结果表明王企鹅在全球变暖的现状下，面临着灭绝的危险。”研究者在报告中写道。
The expectation was that today’s decentralised and global system would spread risk and reduce the economic impact of a financial shock.
原本的期望是这种分散的全球体系可以分摊风险并减少金融冲击的经济影响。
That takes less energy than splitting nitrogen fluoride and there is no global warming risk, Pilgrim says.
这样能使能量消耗比使用三氟化氮时更少，而且没有促进全球变暖的危险，皮尔格林说。
But markets for commodities are global, and the risk of any one consumer cornering supplies, or securing them at a lower price, is negligible.
但是，日用品市场是全球性市场，任何一方都不可能将全球原料供应品据为己有，也不可能以较低的价格得到它们。
While the science of climate change will never be settled to the satisfaction of every observer, we know enough to say there is a significant risk that global warming will cause dire consequences.
尽管气候变化这门学科无法让每一位观察家满意，但仅就我们所知已经可以得出“全球变暖极可能会招致非常严重后果”这样的结论。
TODAY has turned out to be a rather ugly day for global markets: a risk-off day, as they say, as traders move to relatively safe vehicles.
对于全球市场来说，今天是个阴郁的日子——如人们所说，交易员们纷纷转向相对安全的资产，让今天变成了一个“去风险”之日。
Credit derivatives have probably improved the stability of the global economy by dispersing risk, but it is no longer clear where that risk is being held.
信贷衍生工具可能分散了危机，从而促进了全球经济的稳定，但哪些领域存在风险则不再明朗。
Credit derivatives have probably improved the stability of the global economy by dispersing risk, but it is no longer clear where that risk is being held.
信贷衍生工具可能分散了危机，从而促进了全球经济的稳定，但哪些领域存在风险则不再明朗。
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