But, beyond the impact that this approach is having on individual economies are broader systemic risks that arise from surging equities and weaker currencies. As the baton of excessive liquidity injections is passed from one central bank to another, the dangers of global asset bubbles and competitive currency devaluations intensify.
但是，除了这一方针给个体经济体带来的影响，还有股市飙升和货币贬值造成的系统性风险。过度流动性注入的接力棒在央行之间不断传递，全球资产泡沫和竞争性货币贬值的危险与日俱增。与此同时，政客陷入了错误的自负，这破坏了他们直面眼前的结构性挑战的激励。