Another sign of change is corporate Japan's sudden zeal for mergers and acquisitions, despite the uncertain business environment and a scarcity of capital.

变革的另一个标志就是虽然商业环境难以预测以及资金不足，日本企业却突然热衷于合并及收购。

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One is the scarcity of capital.

理由之一是资本不足。

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There are roads, of a sort, beyond the capital, but their scarcity makes helicopters the preferred, if less economical, alternative.

虽然城外有某种道路，但路网稀少，直升飞机还是出游的首选，尽管价格不菲。

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In a statement the company said in the "current environment of capital scarcity and uncertain economic conditions" it had decided to concentrate instead on developing cancer treatments.

BBC: Stem cell trial halted

In other words, small banks will be disproportionately hurt by higher capital costs and scarcity of capital at a reasonable cost.

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Capital will therefore flow out (or fail to flow in) until the scarcity of capital pulls the after tax return up to the world return.

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