Life after the crisis, says Bill Gross of Pimco, will be characterised by DDR: deleveraging, deglobalisation and reregulation. There is evidence aplenty of the first and last. And of the second, there are few better illustrations than the Asian loan market.
太平洋投資管理公司(PIMCO)的比爾?格羅斯(Bill Gross)表示,危機(jī)過后的市場特征可以用DDR來概括:去杠桿化(deleveraging)、去全球化(deglobalisation)及重新監(jiān)管(reregulation)。第一點和第三點都有豐富的證據(jù)證明。至于第二點,最能說明問題的莫過于亞洲貸款市場了。
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