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长期来看,中国的证券市场渐渐融入世界的趋势不可避免,A股走向成熟也就成为必然全球主要市场发生了自1929年以来最严重的金融危机,本次危机的根源在于房地产泡沫和衍生品泡沫的破裂。我们预计,为防止危机再次产生,由于全球衍生品市场所造成的过度流动性局面未来有可能得到根本性改变,而随着各个金融机构去杠杆化的过程,会导致流动性会进一步紧缩。
In the long run, the gradual integration of China’s securities market into the world is inevitable. A-share maturity becomes inevitable. The most serious financial crisis in the world’s major markets has occurred since 1929. The root cause of this crisis lies in the real estate bubble and derivatives Bubble rupture. We expect that to prevent the recurrence of the crisis, the future of over-liquidity caused by the global derivatives market may be fundamentally changed in the future, and as the deleveraging of various financial institutions will lead to further tightening of liquidity.