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When different economies were hit by shocks of similar magnitude, the consequences differed. The developed countries were less susceptible to banking crises because their banking systems were stronger. Third, my model shows that the probability of a banking crisis in a country without a strong banking sector will rise if its financial market is too open. This helps to explain why the Asia miracle suddenly became a nightmare and why China could have avoided the crisis.

在不同的国家都受到冲击,其后果的大小与相似。发达国家对银行危机,因为其银行系统是强的。第三,我的概率模型显示在一个国家的银行危机没有坚固的银行业金融市场将会上升太开放。这有助于解释为什么突然成为亚洲奇迹噩梦,为什么中国将会避免这场危机
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