Chinese Local Government Debt “Serious:” Debt Expert
债务专家：中国地方政府负债“严重”

本则影音新闻出处：新唐人电视台英语新闻

【新闻关键字】
1. trigger: [ˋtrɪgɚ] v.引起、触发
2. mortgage: [ˋmɔrgɪdʒ] n.v.抵押
3. uncover: [ʌnˋkʌvɚ] v. 揭露、发现
4. irregularity: [͵ɪrɛgjəˋlærətɪ] n.不法情事
5. survey: [sɚˋve] v.调查
6. reveal: [rɪˋvil] v. 透露
7. sum up: [bæd] [ʌp] ph.计算、总结
8. exaggerate: [ɪgˋzædʒə͵ret] v.夸大
9. statistics: [stəˋtɪstɪks] n.统计
10. involve: [ɪnˋvɑlv] v.牵涉、涉及
11. avert: [əˋvɝt] v.避开、移开
12. toxic: [ˋtɑksɪk] adj.有毒的
13. estimate: [ˋɛstə͵met] v.估计
14. bad loan: [bæd lon] n.呆账

While the recent financial crisis in the West was triggered by the US sub-prime mortgage market, many analysts believe that in China it’s local government debt that could trigger a future financial crisis in the world’s second largest economy.
虽然最近西方金融危机，是由美国次级房贷市场引起，但许多分析家认为，中国地方政府的负债，可能引发未来世界第二大经济体的金融危机。

China’s audit office has uncovered over $80-billion of irregularities in local government debt, yet the problem may be even worse than what statistics show.
中国审计处已揭发地方政府超过 80亿美元的违法行为，然而问题可能比统计数据所显示的更糟。

[Yang Zhenghu, Director, Guangdong Social Sciences Association]:
“Of the several cities I have surveyed, the problem is far more serious than what has been revealed. The statistics bureau, when summing up this data, has a certain amount of freedom to exaggerate, they can adjust the statistics according to political preference. The longer this goes on, when we research, the data we find shows an even more difficult situation.”
广东省社会科学界联合会杨正浒说：
“在我所调查的几个城市，问题比已揭露的严重许多。统计局在计算数字时，有一定的自由空间可夸大，他们可依政治喜好，去调整统计数据。当我们继续研究更久，我们发现的数据，显示一种更艰难的情况。”

While the usual sources of income for local governments are decreasing, their spending is increasing. Yang Zhenghu says this debt based spending will eventually cause problems.
虽然地方政府一般收入来源减低，他们的开销却不断增加。杨正浒说，这种负债下的花费，最终会导致问题。

[Yang Zhenghu, Director, Guangdong Social Sciences Association]:
“The income of the local government from property sales has decreased a lot, but the overall income of the local government is still rising. With such a high debt level, in the end the burden will fall on the tax payers.”
广东省社会科学界联合会杨正浒说：
“地方政府从物业销售得来的收入减少许多，但整体收入仍在上涨。在如此高负债下，负担最终将落在纳税人身上。”

Yang says local governments are using a variety of methods to shift their debt around and maintain interest payments. Those methods mostly involveborrowing more money.
杨说，地方政府使用各种方法转移相关债务，维持利息支出。这些方法主要涉及借贷更多的钱。

[Yang Zhenghu, Director, Guangdong Social Sciences Association]:
“Different types of tools and methods can be used to make the data not look so bad. There are many methods to avert the risk [of default], originally [local governments] didn’t have mortgages, but now they mortgage some land or real estate, so their debts are less likely to be regarded as toxic.”
广东省社会科学界联合会杨正浒说：
“不同类型的工具和方法，可用来使数据看起来没那么糟。有许多方法可避免违约风险，原本地方政府没有抵押贷款，但现在他们抵押一些土地和房产，所以他们的债务，较不可能被视为有毒害的。”

Economists estimate that there are over $300-billion worth of bad loans within a total local government debt pile of over one point five trillion US dollars.
经济学家估计，在地方政府超过1.5兆美元的大量负债内，有超过 3,000亿美元价值的呆账。

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【过年时常说的九句话】
1. Best Wishes for the New Year!
恭贺新禧！
2. Good luck in the year ahead.
祝您来年好运到
3. Wishing you the best of luck in the New Year.
祝您新年行大运
4. May you come into a good fortune this year.
祝您今年发大财
5. Please extend my sincere wishes to your family.
请将我诚挚的祝福转达给你的家人
6. Good luck and great success in the coming New Year.
祝来年好运，并得更大的成就。
7. Good health, good luck and much happiness throughout the year.
祝您健康、幸运，新年快乐。
8. May the coming New Year bring you joy, love and peace.
愿新年为您带来快乐、爱与宁静
9. I hope you have a most happy and prosperous New Year.
谨祝新年快乐幸福、大吉大利
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