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WHEN pundits worry about the distorting effects of cheap money on asset prices, they invariably single out the carry trade as a cause for concern.

当学者为低息贷款对资产价格的扭曲而感到担忧时，他们总是指出套利交易是应引起注意的一个原因。

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And then there are the deleterious effects America's price-distorting payments have on foreign farmers and so on trade negotiations.

因而导致美国不正常的价格补偿使外国农民和贸易谈判等等都收到不良影响。

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Trade-distorting subsidies may rise so much, Europeans fear, that America will break its Uruguay-round commitments.

ECONOMIST: What happened to free trade? | The

America's trade-distorting support was already well below its permitted ceiling and had seemed likely to fall further.

ECONOMIST: What happened to free trade? | The

Contrary to received wisdom, slashing the rich world's trade-distorting subsidies has a relatively small effect on poor countries.

ECONOMIST: Weighed in the balance