2. 資產泡沫
asset bubble

請看例句：

At a recent meeting of the Political Bureau of the Communist Party of China Central Committee, the leaders warned that monetary policy priorities should be directed at curbing an asset bubble and guarding against financial risk, while ensuring adequate liquidity.
近日舉行的中共中央政治局會議上，領導層警示貨幣政策應注重在保持流動性合理的同時，抑制資產泡沫，防范金融風險。

相較于大宗商品(bulk stock)、股市、債市等其他資產市場，當前樓市(housing market)的泡沫最為明顯。當經濟處于轉型陣痛(go through restructuring pains)時，熱錢和投機者便會轉向房地產業尋求利潤(hot money and speculators turn to the real estate industry for profits)，甚至有上市科技公司將有限的科研資金用來投資房地產。然而城市的競爭力在于產業，而非低附加值(yield little added value)的房地產市場。資產泡沫(asset bubble)和債務風險(debt risks)已成為最可能導致流動性危機和經濟動蕩(trigger a liquidity crisis and economic turbulence)的因素。

觀察人士稱，政府為房地產市場降溫(take the steam off the property market)之后，資金才會流向實業(capital flows into the real economy)。資產泡沫得到控制，社會的創新精神才不至于被傷害。目前一線城市的銀行都已經收緊對購房者的新增貸款，北京市甚至在賣地給房產開發商時對住宅進行限價(put a ceiling on apartment prices for land it sells to real estate developers)。

[相關詞匯]

充足的信貸 ample credit

提供短期貸款 offer short-term loan

首付 downpayment

擠壓杠桿 squeeze leverage

抑制泡沫 curb bubble

經濟企穩 economy stabilize

削減產能過剩 slash overcapacity

選擇性收緊 selective tightening