预警: 金融世界过度膨胀的先兆_时事

预警: 金融世界过度膨胀的先兆

This week America’s corporate world passed amilestone. The value of deals in US-bound mergersand acquisitions amounted to $243bn in May,according to Dealogic — a monthly record. Theprevious monthly peaks were in May 2007 andJanuary 2000, when deals worth respectively $226bnand $213bn were struck.

美国企业上周跨越了一座里程碑。Dealogic的数据显示，美国并购交易价值在今年5月达到2430亿美元，创下单月最高纪录。上两次的单月最高纪录分别出现在2007年5月和2000年1月，签署的协议价值分别为2260亿美元和2130亿美元。

Meanwhile, so far this year, $1.85tn deals have been done globally; if this continues 2015’s totalcould top the annual record of $4.6tn deals s in 2007.

与此同时，今年以来全球签署的并购协议价值达到1.85万亿美元，如果持续这种趋势的话，2015年全年并购交易价值将超过2007年创造的4.6万亿美元的最高年度纪录。

What should policy makers and investors conclude? If you want to be optimistic, you mightsee this as a welcome return of animal spirits. In the immediate aftermath of the 2008 financialcrisis, corporate executives were so scarred — and scared — that their priority was to cutcorporate debt and costs. But now the C-suite feels more ambitious. And what is particularlystriking is that the current M&A frenzy is affecting not just one industry, as during thetech boom, but a wide range, including retail, oil, pharma and tech.