At the same time, Chinese companies have rushed to take on large amounts of dollar-denominated debt in the belief that currency moves will shrink their liabilities.

与此同时，中国企业争先恐后借入大量美元计价债务，在他们看来，汇率走势将导致他们的债务出现缩减。

youdao

That would leave many holders of Greek debt without protection from losses, encouraging them to hedge their risk by betting against other euro-denominated debt like Italy's.

这将使希腊债券持有者的损失得不到担保，促使他们对赌意大利债券等其他以欧元计价的债券来对冲风险。

youdao

This raises a bunch of practical questions: what to do about countries, like China, with capital controls and how to choose between local-currency and dollar-denominated debt?

而紧接着是引起的一大串问题：一些国家该怎么办，例如拥有资金的控制权中国，它如何在本地货币和美元主导之间的选择呢？

youdao

It consists of a promise to pay, usually denominated in currency, and there are both long-term and short-term debt instruments.

是一种付款承诺,通常是货币支付形式,有长期债券,以及短期债券

耶鲁公开课 - 金融市场课程节选

Some analysts say the greenback-denominated debt could damage the company if China devalues the renminbi.

CNN: TARRED BY A BROAD BRUSH

Yuan-denominated debt would be attractive for African institutions to issue as their local currency-denominated debt markets are nascent.

FORBES: China's Yuan Internationalization: Made In Africa, Not Hong Kong

As global demand for dollar-denominated debt falls, the Fed is looking for an excuse to pick up the slack.

FORBES: Learn To Love Deflation, Not Dollar Devaluation