Rising interest rate differentials relative to European short - and long-term assets made private sector purchases of dollar-denominated assets more attractive.
相对于欧洲短期资产和长期资产的利差有所提高，这使私人部门更乐于购入美元标价的资产。
2
At the same time, Chinese companies have rushed to take on large amounts of dollar-denominated debt in the belief that currency moves will shrink their liabilities.
与此同时，中国企业争先恐后借入大量美元计价债务，在他们看来，汇率走势将导致他们的债务出现缩减。
3
This raises a bunch of practical questions: what to do about countries, like China, with capital controls and how to choose between local-currency and dollar-denominated debt?