These economies – the BRICS (Brazil, Russia, India, China, and South Africa) and others – were overhyped for too long. Favorable external conditions – the effect of China’s strong growth on higher commodity prices and easy money from yield-hungry advanced-economy investors – led to a partly artificial boom.
这些经济体——金砖国家（巴西、俄罗斯、印度、中国和南非）及其他——在太长的时间里发展过度。有利的外部环境——中国的强劲增长推高商品价格，以及来自渴望收益率的发达经济体投资者的宽松资金——导致了一定程度上人为的繁荣。如今，派对已经结束，宿醉即将开始。