Optimism can easily become irrational exuberance: asset prices in some emerging markets have risen too high. And there is a danger of a Western backlash.

乐观主义很容易演变为不理智的自以为是：在一些新兴市场国，资产价值上扬过度；而且它可能会招致西方国家的强烈抵制。

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The irony is that the more anaemic the Western recovery proves to be, the longer it will take for Western interest rates to normalize and the bigger the resulting asset bubble in Asia.

具有讽刺意味的是，西方的复苏显得越是乏力，西方利率正常化所需的时间就越长，由此形成的亚洲资产泡沫也越大。

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One is Jalaluddin Haqqani, whose fighters battle Western forces in Afghanistan, and whom many senior Pakistani officers see as a useful asset through whom Pakistan can retain influence there.

其中一个就是Jalaluddin Haqqani，他的部下曾在阿富汗与西部军交战，并且很多巴基斯坦官员把他看成是巴基斯坦在阿富汗保持影响力的有利桥梁。

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Western Asset Management is up 1.61% so far this year, putting it in the bottom 35% of funds, but for one year it is up 8.98%, better than 94% of similar funds out there.

FORBES: Can Gross Get His Groove Back?

Last month, the woman asked Bishop what western countries knew about a Chinese naval asset.

NPR: Woman At Center Of Spy Allegations Is Enigma

Yes, HSBC had a pretty high profile and much-touted withdrawal, but Morgan Stanley just learned it will manage a multi-billion dollar privatization of SovComFlot, a state-owned ship construction and shipping business, and other Western investment banks are chomping at the bit to get a piece of the other asset sales that are coming down the pike.

FORBES: Sorry Ian Bremmer, the Russian Economy Is Growing