But leaving aside the terrorist threat, most of the macro risks from Pakistan aren't what they used to be.
先把恐怖威胁放在一边，如今巴基斯坦最大的宏观风险有所变化。
A fully normalized macro policy stance is key to address the macro risks with respect to inflation and the housing market.
宏观立场需要完全正常化以应对各种宏观风险，特别是通胀和房地产市场的风险。
In other words, it was not a random drawing from a distribution of events with a fat tail but actually predictable in advance given the rising macro and financial risks and vulnerabilities.
换句话说，它并非带有肥尾的一系列离散事件的随机结果，而是在事先观察到上升的宏观及金融风险后完全可以预见到的。
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