新兴市场的经济下滑在一定程度上是由周期性因素所致(包括外部需求减弱),还部分地归因于结构性瓶颈(例如在基础设施、劳动力市场、电力部门的制约因素)。尽管这些经济体实施了支持性的国内宏观经济政策,贸易条件依然有利,融资条件宽松(仅在最近才开始收紧),但它们的增长依然在减缓。造 The economic downturn in emerging markets is partly due to cyclical factors (including weaker external demand) and partly to structural bottlenecks (for example, in infrastructure, the labor market, and power sector constraints). Although these economies have implemented supportive domestic macroeconomic policies, their terms of trade continue to be favorable and their financing conditions relaxed (only tightened only recently), their growth is still slowing. Made