These risks are already exacerbating the economic slowdown: equity markets are falling everywhere, leading to negative wealth effects on consumption and capital spending. Borrowing costs are rising for highly indebted sovereigns, credit rationing is undermining small and medium-size companies, and falling commodity prices are reducing exporting countries’ income.
这些风险已然对经济减速起到了推波助澜的作用：各国股市都在下跌，导致了消费和资本支出的负财富效应。重债国的借贷成本在声声，信贷配额正在挤压中小企业，而商品价格的下跌正在拖累出口国的收入。风险厌恶度的上升正在导致经济行为人采取静观其变的立场，而这给经济减速带来了某些自我实现的效果。