Foreign investors are besotted with Chinese government bonds. Falling yields across the US and Europe have driven new demand for China’s central government and local government debt alike. But the higher yielding investments are riskier than they might appear.
外國投資者癡迷於中國政府債券。美國和歐洲的債券收益率不斷下降，推動了對中國國債和地方政府債券的新需求。但這些收益率較高的投資的風險比看上去的更大。
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