美联英语短新闻 国际投资者关注中国坏账市场

第一篇：美联英语短新闻 国际投资者关注中国坏账市场

小编给你一个美联英语官方免费试听课申请链接： http://m.meten.com/test/waijiao.aspx?tid=16-73675-0 美联英语提供：英语短新闻 国际投资者关注中国坏账市场

ShoreVest Capital Partners says it has launched a $750m fund targeting bad debt in China as foreign interest builds in a market known for frustrating outside investors.新岸资本(ShoreVest Capital Partners)表示已推出一支7.5亿美元的瞄准中国坏账的基金。这个以令外部投资者受挫而著称的市场，正引起外国投资者越来越大的兴趣。

The Guangzhou-based firm said it has already raised cash from sovereign wealth funds and pension funds, tapping into still-nascent demand from global investors for non-performing loans in China.这家总部位于广州的公司表示，利用全球投资者对中国正在萌生的不良贷款的需求，该公司已从主权财富基金和养老基金中筹集到资金。

At least three other global investors have moved into the market for China’s bad debt this year.今年至少还有其他三家国际投资机构进入了中国坏账市场。

The country’s opaque legal system and problems connected to owning state assets have made recovering returns from bad debt in China a complicated task.Some foreign investors that have waded into the market in recent years have found local courts reluctant to allow foreign investors to restructure companies if jobs were at stake.中国不透明的法律制度以及拥有国有资产所涉及的问题，令从中国坏账中获取回报成为一项复杂任务。近年来一些涉足这个市场的外国投资者发现，如果就业受到威胁，地方法院不愿让外国投资者重组企业。

The level of bad debt in China, however, has surged since 2013, bringing a surplus of NPL deals to the market and adding pressure on Beijing to resolve the problem.Moody’s recently downgraded China’s sovereign rating for the first time in 25 years in part over concerns regarding surging corporate debt levels.然而自2013年以来中国坏账水平激增，导致该市场不良贷款交易过剩，也增加了北京方面解决这一问题的压力。最近，穆迪(Moody’s)25年来首次下调了中国的主权信用评级，部分原因是出于对不断飙升的公司债务水平的担忧。

While the official rate of NPLs at Chinese commercial banks hovers below 2 per cent of total assets, analysts say the true figure could be as high as 15 per cent.ShoreVest estimates that China’s stock of bad debt has hit $3tn and the government has incentivised banks to deal with the load.虽然中国各商业银行的官方不良贷款率低于2%，但分析师认为真实数字可能高达15%。新岸资本估计中国的坏账存量已达3万亿美元，政府已鼓励银行对这些坏账进行处理。Global banks started investing in China’s bad loans more than a decade ago and several succeeded in striking profitable deals.More recently, the number of transactions pulled off by outsider investors has remained small.At the same time, local distressed debt funds have sprung up, adding some competition at auctions for bad loan portfolios.国际银行从十多年前开始投资中国的不良贷款，有多家曾成功达成交易并实现盈利。最近外

部投资者完成的交易数量仍然很少。同时本土不良债务基金纷纷涌现，给不良贷款组合的拍卖增加了一些竞争。

Despite the generally tepid sentiment on distressed debt investing in China, ShoreVest says some large global investors are coming around to the market.尽管对中国不良债务的总体投资热度不高，但新岸资本表示一些大型国际投资者重新回到了该市场。

“When I raised our first fund 10 years ago, the only LPs [limited partners] interested in Chinese NPLs were those who were open to sophisticated niche strategies,” said Benjamin Fanger, ShoreVest managing partner.The asset class has since attracted a wider range of larger global investors, he said.新岸资本管理合伙人方杰明(Benjamin Fanger)表示：“10年前我筹建我们的第一支基金时，对中国不良贷款感兴趣的有限责任合伙人(LP)只有那些能接受复杂利基策略的。”他说，该资产类别后来吸引了更广泛的大型国际投资者。

Last week Bain Capital said it had bought a portfolio of bad loans from a Chinese asset management company for $200m, its first foray into bad debt in China.ShoreVest is acting as the master servicer for the acquisition, according to Bain.贝恩资本(Bain Capital)上周表示，已斥资2亿美元从一家中国资产管理公司收购了一个不良贷款组合，这是该公司首次涉足中国坏账市场。据贝恩资本表示，新岸资本是这笔收购的总服务商(master servicer)。

In early 2017, US private equity firm Lone Star and Hong Kong peer PAG began buying non-performing loan portfolios in China, according to several people familiar with the matter, marking the first time in years that new global investors

have pushed into the market without a large mainland partner.At the time, PAG said the volume of NPL deals coming on to the market was increasing significantly.据多位知情人士透露，2017年初，美国私募股权投资公司孤星(Lone Star)和香港同行太盟投资集团(PAG)开始在中国购买不良贷款组合，标志着多年来首次有新的国际投资者在没有大型内地合作伙伴的情况下进入该市场。太盟投资表示，目前进入该市场的不良贷款交易数量正在显著增加。

ShoreVest began buying NPL portfolios in China in November.The group was formed by Mr Fanger, a long-time China distressed debt investor, after the split-up of an earlier fund.新岸资本从去年11月份开始在中国购买不良贷款。该集团由长期投资于中国坏债的方杰明在早前一支基金分拆后创建。

Some consultants expressed scepticism on the level of global interest in China’s toxic loans and say that, as many investors have long feared, the returns on such investments have continued to fall below expectations.一些咨询顾问对中国不良贷款吸引的国际投资意向不看好，他们表示，正如许多投资者长期以来所担忧的，这种投资的回报仍持续低于预期。

“I actually don’t think it is increasing right now,” Ted Osborn, a partner at PwC in Hong Kong, said of the overall sentiment for investments in distressed debt in China.“There are six to eight funds that have dedicated some people to finding deals but they aren’t actually finding much.Returns just aren’t there at the

moment.”

普华永道(PwC)驻香港合伙人区兆邦(Ted Osborn)在提到中国不良贷款投资的整体情绪时表示：“实际上我并不认为整体环境正在升温。有6到8支基金配备了一些人手去找交易，但他们实际找到的并不多。眼下根本没有什么回报。”

第二篇：美联英语短新闻 德国银行业欢迎中国投资

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The head of BaFin, Germany’s financial watchdog, said he welcomed Chinese investment in the German banking sector, a week after it emerged that Chinese conglomerate HNA had become the biggest single investor in Deutsche Bank.德国联邦金融监管局(Bafin)局长表示，他欢迎中国在德国银行业的投资，一周前有消息称，中国综合企业海航(HNA)已成为德意志银行(Deutsche Bank)最大单一股东。

Chinese investors have spent billions of euros in Germany in the past few years, but have attracted increasing regulatory scrutiny of late, with the government last year stymieing a bid by a Chinese consortium for the chipmaker Aixtron on security grounds.最近几年，中国投资者已在德国投资数十亿欧元，但最近招致监管部门越来越多的审查。去年，德国政府以安全为由，否决了中国一财团对德国芯片制造商爱思强(Aixtron)的收购计划。

Speaking at BaFin’s annual press conference in Frankfurt, Felix Hufeld said he saw Chinese investment as a vote of confidence in Germany’s banking sector.在德国联邦金融监管局在法兰克福的记者会上发表演讲时，菲利克斯?胡费尔德(Felix Hufeld)表示，他认为中国的投资是对德国银行业投下的信任票。

“It is basically a positive story that capital finds it interesting to invest in German

banks and of course [that includes] foreign capital, and of course [that includes] Chinese capital,” he said.“BaFin has no blacklist of which countries can in principle invest here.”

“这基本上是一个正面的故事，说明资本对投资德国银行有兴趣，当然（这包括）外国资本，当然（这包括）中国资本，”他表示，“德国联邦金融监管局对于哪些国家原则上可以在我国投资没有黑名单。”

HNA disclosed last week that it had boosted its stake in Deutsche to 9.9 per cent, putting it ahead of US investment group BlackRock, which has a 5.9 per cent stake.The Qatari royal family holds between 8 and 10 per cent of Germany’s largest lender via two investment vehicles.上周，海航披露，已将其在德意志银行的持股比例增至9.9%，超过贝莱德(BlackRock)所持的5.9%持股。卡塔尔皇室家族通过两个投资工具，持有这家德国最大银行8%至10%的股权。

C-Quadrat, the asset manager through which HNA bought its stake, has made clear that HNA has no intention of raising its stake beyond 10 per cent, the threshold above which BaFin has to approve stake purchases.海航是通过资产管理公司C-Quadrat购入德意志银行股份的。C-Quadrat明确表示，海航无意将其持股比例提高到10%以上；如果达到10%或以上，就必须得到德国联邦金融监管局的批准。

Asked whether BaFin scrutinised investments such as HNA’s that came close to, but did not breach the 10 per cent threshold, Mr Hufeld said BaFin could not change the levels at which it was legally allowed to rule on investments, but stressed that

the watchdog was paying close attention to market developments.在被问及德国联邦金融监管局会否关注海航这样接近，但没有超过，10%持股门槛的投资时，胡费尔德表示，该局无法改变其依法被允许审批投资的门槛，但他强调，该局正密切关注市场动向。

“We have carried out reviews very intensively in a series of cases.We take the owner control process very seriously,” he said.他表示：“我们在一系列个案中进行了非常深入的审查。我们非常认真地对待所有者控制过程。”

“[The arrival of foreign capital] is a general process of internationalisation of the investor base which we are also seeing in other industries, but which in a regulated industry like banking or finance triggers certain reviews?.?.?.?We look at what is happening, we meet such people [who want to invest], we want to get an impression [of them], we want to know who we are dealing with.”

“（外资的到来）是投资者基础国际化这一总体过程的一部分，我们在其他行业也看到了，但在银行业或金融业等受到监管的行业，这会触发某些评估……我们正关注情况的发展，我们见了一些人（他们希望投资），我们希望对（他们）有一个印象，我们希望知道我们在同谁打交道。”

第三篇：美联英语短新闻 国际政要谈一带一路

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Antonio Guterres, United Nations Secretary-General:

联合国秘书长古特雷斯：

The China-proposed Belt and Road Initiative(BRI)can be a very important instrument to meet the UN 2030 Agenda for Sustainable Development.由中国提出的“一带一路”倡议对联合国《2030年可持续发展议程》的推进有重要作用。So I'm expecting to participate in the discussion to see how we can extract the maximum possible value of the Belt and Road Initiative for global inclusive and sustainable development.因此，我非常期待能参与此次论坛的讨论，一起探讨我们如何从这一倡议中最大可能地汲取实现可持续发展和包容性发展的重要价值。

Multilateralism is the solution to global problems.And China has been a strong pillar of multilateralism.When we look at BRI, we see a very important contribution to this solidarity in addressing global problems with international cooperation, where China plays a very central role.So I'm very happy to have the chance to participate in this Belt and Road summit.多边主义是解决国际问题的良方，而中国已经成为了多边主义的中坚力量。一带一路让我们

看到中国担起核心重任，通过全球合作解决国际问题，为多边力量的团结一致作出了重要贡献。我很高兴能够参与到“一带一路”高峰论坛中来。

We need an initiative of international solidarity to make people believe there's better globalization, to make people believe there's free trade that can benefit people overall, to make people believe that it's possible to not leave anyone behind, and so discussions like the BRI are extremely useful.我们现在需要一个能将国际社会团结起来的倡议，以此让人们相信全球化正朝着更好的方向发展、自由贸易能够给全体人类带来福祉，让人们相信没有人会被落下，所以，“一带一路”这样的论坛是大有裨益的。

Milos Zeman, president of the Czech Republic: 捷克总统米洛什?泽曼：

I will attend the forum, and the topic I am most concerned with is the Belt and Road, the world's largest initiative for infrastructure construction.I am glad to see that the Belt and Road Initiative, which connects China and Europe, also includes the Czech Republic.我会出席论坛，我最关注的话题就是“一带一路”，这是全世界在基础设施建设方面最宏大的倡议。我很高兴连接中欧的“一带一路”倡议也把捷克共和国包括在内。

Opening more air routes will improve people-to-people exchanges between China and the Czech Republic, while cooperation in the rail sector will involve greater transportation of freight.开通更多空中航线将促进中国和捷克两国人民之间的交流，而在铁路方面的合作将带来更大的货物运输量。

Prokopis Pavlopoulos, president of Greece: 希腊总统普罗科比斯?帕夫洛普洛斯：

This idea(the Belt and Road Initiative)is based on the ancient Chinese philosophy, but also on the ancient Silk Road which is characterized by the spirit of peace and of mutual beneficial cooperation.For Greece, the maritime road is of particular interest, given that Piraeus port is the first gateway to the European continent via the new Suez Canal.该倡议不仅植根于中国的古老哲学，“一带一路”还建立在秉持着和平和互惠合作精神的旧丝绸之路的基础之上。海上丝绸之路与希腊的利益尤其相关，因为比雷埃夫斯港是通过新苏伊士运河进入欧洲大陆的第一扇大门。

Greece, a European country at the crossroads of three continents, has always been throughout its history open to communication and connection between different countries and civilizations.We warmly support this initiative in the context of our strategic partnership with China.And we are ready to creatively cooperate in this direction.希腊作为一个欧洲国家，位于欧洲、亚洲和非洲的交界处。自古以来，希腊就很欢迎与不同国家、不同文明之间的交流互通。我们同中国有战略合作关系，因此也会衷心支持“一带一路”倡议。我们愿意在该倡议中一同创新合作。

Alexander Lukashenko, president of the Republic of Belarus: 白俄罗斯共和国总统亚历山大?卢卡申科：

The Republic of Belarus will continue to strengthen its ties with China, as the country's Belt and Road Initiative is providing a new economic growth point for the

world.中国的“一带一路”倡议为全球提供了一个新的经济增长点，白俄罗斯会继续加强和中国的联系。

The most important feature of the Belt and Road is that during its development, China has never raised any requirements to participating countries, thus creating no disagreements.“一带一路”最重要的特征就是随着“一带一路”的发展，中国从未向参与国提出任何要求，因此彼此之间也就不会出现分歧。

Once we don't have any disagreements, we will have better and smoother cooperation.China knows this very much, therefore I have to say Chinese is a wise people.没有分歧，合作就会更加顺利。中国深知这一点，因此我必须说中国人是很有智慧的。Lars Loekke Rasmussen, prime minister of Denmark: 丹麦首相拉尔斯?勒克?拉斯穆森：

The Belt and Road Initiative is indeed a very interesting foreign policy strategy.Further connecting Europe and Asia firmly through trade and bilateral cooperation can hopefully be a future dynamo for growth and prosperity for both continents.“一带一路”倡议实际上是一个非常有趣的外交战略和政策。“一带一路”通过贸易和双边合作的方式进一步加强亚欧之间的联系，这很有可能成为推动亚欧两洲发展繁荣的未来新动力。

I hope the Belt and Road Initiative could provide economic stability and development for Central and South Asia –gateways between East Asia and Europe.This will be crucial for trade between the two biggest concentrations of economic power.中亚和南亚是东亚和欧洲互通的大门，我希望“一带一路”倡议能够为中亚和南亚带来经济上的稳定和发展。东亚和欧洲集中了各个经济大国，“一带一路”倡议会对这些国家之间的贸易往来有至关重要的作用。

Maleeha Lodhi, Pakistan's permanent representative to the United Nations: 巴基斯坦常驻联合国代表马利哈?洛迪：

Pakistan's participation in the Belt and Road Initiative will help the nation achieve balanced development across all its provinces and bring about economic stability.巴基斯坦参与到“一带一路”倡议中来有助于实现各省均衡发展及经济稳定。

The Belt and Road projects will benefit the people of Pakistan directly because Chinese investments will go to areas critical to Pakistan's infrastructure.中国将在巴基斯坦基础设施重点地区进行投资，因此“一带一路”项目能让巴基斯坦人民直接受益。

So really, this project is about the economic welfare of the Pakistan people, on mutually beneficial terms, because China gains, Pakistan gains-it's a win-win.所以，“一带一路”关乎巴基斯坦人民的经济福利。中国得益，巴基斯坦得益，双方互利共赢。

Tarek Kabil, Trade and Industry minister of Egypt: 埃及工业和贸易部部长塔里克?卡比尔：

The future of economic relations between Egypt and China under the Belt and Road Initiative is promising and we urge further Chinese investments in Egypt to fasten

the pace of Egyptian-Chinese economic integration.有了“一带一路”，埃及和中国的经济关系前景光明。我们呼吁中国加大在埃及的投资，以此加快埃及和中国的经济一体化。

I believe that the B&R Initiative is great and China can surely make it a success.In order to ensure the success of the initiative, there should be agreement and coordination among all B&R states to complete the relevant infrastructures and also the initiative should provide win-win situations and mutual interests for all related parties.我相信，“一带一路”倡议是好的，中国必定会圆满落实该倡议。所有参与“一带一路”的国家应当达成共识，协调配合，建成相关基础设施，并且让各方互惠双赢。这样，“一带一路”倡议才能圆满落实。

Penny Wong, the Australian Opposition's foreign affairs spokesperson: 澳大利亚工党影阁外长黄英贤：

As trade is increasingly treated with disdain and protectionism rises, we must find better ways to work with(India and China)to ensure open trading systems remain in place so new technologies, automation and artificial intelligence benefit our citizens.随着贸易越来越不受重视，保护主义抬头，我们必须找到有效的办法，同中印合作，确保开放的贸易体制不被动摇，这样才能让我们的人民得益于技术、自动化和人工智能的发展。China's Belt and Road Initiative provides valuable opportunities for bilateral and multilateral cooperation.These have to be realized case by case to ensure mutual benefits are delivered.Buzzwords such as agility and innovation are meaningless

unless we put substance behind them.中国的“一带一路”倡议为双边和多边合作提供了宝贵机遇。我们必须依次实现双边、多边合作，才能确保互利共赢。如果我们不采取实质性的行动，“敏捷”、“创新”之类的热词将毫无意义。

The Belt and Road Initiative brings exciting opportunities for Australian businesses, and the government should not hesitate embracing the initiative as it did with the Asian Infrastructure Investment Bank.“一带一路”倡议为澳大利亚的商业带来了振奋人心的机遇，政府应当毫不犹豫地接受该倡议，一如当时加入亚洲基础设施投资银行那样。

Lattanamany Khounnyvong, vice minister of public works and transport of Laos: 老挝公共工程与运输部副部长拉塔纳玛尼：

Laos strongly supports China-proposed Belt and Road Initiative and the initiative has been producing tangible benefits for the country.老挝强烈支持中国提出的“一带一路”倡议，该倡议已经为老挝带来了实质性的好处。

The China-Laos railway which commenced construction on Dec.25, 2016, has been listed as the most important project in the Eighth National Socio-Economic Development Plan 2016-2020 of Laos.2016年12月25日，中国老挝铁路开工。如今，这条铁路已经被列为老挝《第八个经济社会发展计划（2016-2020年）》中最重要的工程。

Once completed, the railway will help facilitate people-to-people exchanges，reduce traveling time and costs...the railway will also help promote agricultural production in Laos, increase income, attract more foreign investment and provide more employment opportunities.这条铁路完成后能够促进人员交流，减少出行时间和成本……这条铁路还会推动老挝的农业生产，增加收入，吸引更多外资，增加就业。

Berhane Gebre-Christos, special envoy of the Ethiopian prime minister: 埃塞俄比亚总理特使贝尔哈内：

The Belt and Road Initiative is a golden opportunity to bring about regional integration and sustainable economic growth for Africa.“一带一路”倡议对非洲来说是个良机，它能推动区域一体化和非洲经济的可持续发展。The initiative is a project that will affect millions of people, and it will be one of the most important issues of the 21st century.The comprehensive approach of China means that the aspirations and development strategies of all countries involved will be considered and included in the initiative.该倡议会影响数百万人口，是21世纪最重要的议题之一。中国采取的全面策略就意味着该倡议会考虑并吸纳参与各国的诉求和发展战略。

第四篇：美联英语短新闻 韩国总统选举开锣

小编给你一个美联英语官方免费试听课申请链接： http://m.meten.com/test/waijiao.aspx?tid=16-73675-0 美联英语提供：英语短新闻 韩国总统选举开锣

South Koreans are heading to the polls to elect a new leader as they look to make a fresh start two months after former President Park Geun-hye was ousted over a sprawling corruption scandal.韩国人正前往投票站选举新的领导人，在前总统朴槿惠(Park Geun-hye)因一桩不断发酵的腐败丑闻而遭罢免两个月后，他们正寻求翻开新的一页。

Record turnout is expected on Tuesday after Ms Park’s impeachment fuelled citizens’ civic sprit, as voters remain dismayed at the state of the country.朴槿惠被弹劾助长了韩国人的公民精神，周二这天的投票率有望创下纪录。选民们对韩国的现状仍感到失望。

The next president faces the daunting task of restoring trust in political institutions while reviving an economy plagued by surging household debt, high youth unemployment and stagnant wages.韩国下一任总统面临的艰巨任务是，要在振兴韩国经济的同时，重建对韩国政治机构的信任。目前，韩国经济受到不断激增的家庭债务、居高不下的青年失业率及停滞不前的薪资水平的困扰。

According to opinion polls, Moon Jae-in, a liberal candidate with the Democratic party, holds a 20 percentage point lead over his two main rivals — Hong Joon-pyo，a conservative from Ms Park’s party and former provincial governor, and Ahn Cheol-soo, a centrist with the People’s party and former software mogul.民调显示，共同民主党(Democratic Party)自由派候选人文在寅(Moon Jae-in)的支持率领先他的两个主要对手洪准杓(Hong Joon-pyo)和安哲秀(Ahn Cheol-soo)20个百分点。洪准杓是一名来自朴槿惠所在政党的保守派人士，曾任庆尚南道知事。安哲秀是国民之党(People's Party)中间派人士，曾是一名软件业巨头。

A victory for Mr Moon would end nine years of conservative rule by Ms Park and her predecessor Lee Myung-bak.Mr Moon served as chief of staff for late liberal president Roh Moo-hyun but he narrowly lost to Ms Park in the 2012 presidential election.文在寅一旦获胜，将为朴槿惠及她前任李明博(Lee Myung-bak)长达九年的保守派统治画上句号。文在寅曾任已故自由派总统卢武铉(Roh Moo-hyun)的幕僚长，但在2012年的韩国总统选举中，他以微弱劣势败给了朴槿惠。

Mr Moon, a former human rights lawyer and ex-leader of the main opposition party, has vowed to clean up government and big business in the graft-afflicted nation.He has also pledged to improve inter-Korean relations through more active engagement with North Korea, and is pursuing a two-track approach of dialogue and sanctions to resolve Pyongyang’s nuclear problems.文在寅当过人权律师，也是韩国主要反对党的前党首。他承诺要清理这个深受腐败困扰的国家的政府和大企业，还承诺要以更积极的对朝接触来改善韩朝关系。此外，他正寻求通过对

话和制裁双管齐下的方式，解决朝核问题。

Voting stations nationwide opened at 6am local time with voter turnout standing at 14 per cent by 10am, according to the National Election Commission.Broadcasters will release the results of exit polls soon after the vote ends at 8pm, with a winner likely to emerge by 3am on Wednesday.韩国中央选举管理委员会(National Election Commission)称，全国各地的投票站于当地时间早上6时开门，到上午10时投票率达到14%。晚上8时投票结束后，广播电视机构将发布出口民调结果，胜选者很可能会在周三凌晨3时前浮出水面。

Mr Moon, who has been criticised by conservatives for being soft on North Korea, has pledged to reconsider the installation of a US missile shield in South Korea amid an outcry over US President Donald Trump’s remarks that South Korea should pay $1bn for the defence system.韩国保守派批评文在寅对朝鲜态度软弱。文在寅发誓要重新考虑在韩部署美国导弹防御系统的问题。美国总统唐纳德?特朗普(Donald Trump)表示韩国应为该防御系统支付10亿美元，这一说法遭到韩国人的公开抗议。

第五篇：美联英语短新闻 横眉冷对千夫指,昂首挺进总决赛

小编给你一个美联英语官方免费试听课申请链接： http://m.meten.com/test/waijiao.aspx?tid=16-73675-0 美联英语提供：英语短新闻 横眉冷对千夫指,昂首挺进总决赛

OK, first, let's never talk about those Western Conference finals, or playoffs, really, ever again.The minute Kawhi Leonard went down, it was a waste of our time.Not just because the Spurs were so drastically outmatched, but because it robbed us of being able to make any conclusions at any point about either team.There was nothing to learn about either team.好了，首先，让我们，再也，再也，再也不要再谈起这轮西部决赛了。自科怀-伦纳德轰然倒地的那一刻起，这轮比赛就开始在挥霍我们的生命。这么说不仅仅是因为马刺场场溃不成军，更是因为它让比赛变了味，我们已经无法好好对比赛进行分析了，也无法从两队身上学到任何有价值的东西 That's all there is to say.好了，感谢您认真听我吐槽。

So now we get to the meat of the thing.The Golden State Warriors, villains, heroes, wonder-team, albatross, the squad too big to fail, have reached the NBA Finals...again.They are the Western Conference champions, and history will eventually forget Jusuf Nurkic's injury, George HIll's injury, Kawhi Leonard's injury, and to be fair, those might not have mattered in the end result.现在让我们切入正题，金州勇士队，这支在英雄与恶棍的边缘徘徊，遭受着多方非议，无可匹敌的银河战舰，又杀入NBA总决赛了……咦，我为什么要说又呢。他们正式加冕西部冠军，历史只会记得胜利者，优素福-努尔基奇的伤病、乔治-希尔的伤病、伦纳德的伤病……这些终将随着时间被淡忘。

But all history will see is 12-0, the first team to ever sweep the West.They have the best net point differential per 100 possessions in NBA history for a playoff run.They are without blemish, and four wins away from validation for Kevin Durant, and redemption for the Warriors.不过讲道理，就算他们都健康，恐怕也不会对最终结果产生改变，未来人们只会盯着史书，对这支改制以来首次以12连胜杀入总决赛的球队赞不绝口。与此同时，他们目前的百回合净胜分高居历史榜首，他们无可挑剔。距离凯文-杜兰特的完美正名，以及勇士的自我救赎，仅仅四场胜利之遥。

Durant's situation is fascinating.On the one hand, he's back to the Finals after three failures in the Western Conference finals since 2012.Regardless of the outcome of the Finals, he already feels that he made the right decision.杜兰特现在的处境可以说是羡煞旁人。一方面来讲，他自2012年之后重新踏上总决赛地板，而这期间他曾3次折戟西决。无论最终结果如何，他已经可以确定自己做出了正确的选择。Durant may not be the most important Warrior.There may, honestly, not be a most important Warrior, with how much talent they have.杜兰特也许称不上队伍中最重要的一环，实话实说，对于这支天赋溢出的球队来说，你很难确定谁才是公认的最重要一环。但可以肯定的是，他是最强的那一环。

But Durant is the best player, and while the context of his decision may impact how

those on the outside view his potential triumph, internally, he is playing great basketball with a team he clearly loves.尽管他的“决定”会对外界对于他将来成就的评价产生偏见，但对于他来说，他正在一支自己热爱的球队打出着精彩的表现。

If he wins the title and Finals MVP, he gets to claim that No.1 spot he's been chasing so long as the Best Player On Earth, even if so many will attach an asterisk because of how he got there.There are no asterisks when you look in the mirror.如果他有幸得以夺冠并荣膺FMVP，那他将实现自己毕生追寻的目标：成为世界最强球员。当然，外界无疑会对这一称号的成色颇有微词，但这并不会有什么影响，岂能尽如人意，但求无愧于心。

For Stephen Curry, Draymond Green and the rest of the Warriors, it's a time for celebration.Beating the Spurs, in four games no less, even without Kawhi Leonard, is hard.而对于斯蒂芬-库里、德雷蒙德-格林以及其他勇士球员来说，事情就没这么复杂了，他们要做的就是尽情庆祝胜利。四场解决马刺，谈何容易，即便少了伦纳德，这都不是一项简单的任务。

The Warriors did not make it look hard, but that, too, is a testament to how great of a team they are.They accomplished something worth celebrating Monday night.但勇士不仅完成了这一壮举，还看起来轻松加愉快，这足以成为证明其强大的铁证。这场胜利值得好好庆祝一番。

If the Celtics were to pull off a miracle and win the conference finals, they might take Game 1 of the Finals without Isaiah Thomas just because the Warriors would

be so depressed.The Joker is not looking to beat Green Arrow.He wants Batman, and he wants him broken at his feet.如果，我是说如果，凯尔特人奇迹般地完成神级逆转取得东决的胜利，那勇士一定会在对手缺少以赛亚-托马斯的情况下丢掉总决赛揭幕战，因为他们会对于这样的结果大失所望。小丑对于战胜绿箭侠毫无兴趣，他想虐的是蝙蝠侠，他要让他甘拜下风。That's the Warriors.这就是勇士队。

Or, maybe they're Count of Monte Cristo and LeBron is Danglars.It depends on where you stand.或者你也可以把他们看作基督山伯爵，勒布朗则是唐格拉斯，这取决于你站在哪一边。There's joy in this moment, but not rapture.It never feels the same to go through unthreatened, to dominate without limitation, instead of having to truly overcome adversity.The Warriors have faced no adversity in these playoffs, and if they ever face it, it may come as a shock, unfamiliar and stark, like falling into cold water.现在勇士队内必然充满欢声笑语，但绝不会欣喜若狂，毕竟太轻易就追到手的话总归不够刺激，唯有克服万难后抱得美人归才更有征服感。勇士的季后赛之旅太过于一帆风顺，以致于当面临真正的强敌时，他们很可能会慌了手脚，如同突然间掉入冰水一般束手无策。warriors Or maybe they'll just roll through the Cavs, too.That's entirely possible;this team is insanely good.不过他们说不准就顺手把骑士也碾压了，这完全有可能，毕竟这球队太特么变态了。

But if you're looking to disparage Golden State's accomplishment, let's be clear on this point, and it is what I come back to time and time again regardless of who plays who and when...You play who's in front of you.但如果你打算以此来贬低勇士所取得的成就，那我得跟你说清楚，这点也是无论对阵双方是谁，什么时间开战，我都会一再强调的：遇上谁，你就打谁，没得选。

The Warriors didn't get to choose to play Kawhi Leonard.Yes, yes, I know, Zaza Pachulia literally injured him;if you want to go down conspiracy lane, go to it, but it's not like it was a mastermind plot with Draymond Green giving Pachulia such instructions, probably.勇士遇上了伦纳德，这没得选。好吧，好吧，我知道扎扎-帕楚里亚确实弄伤了伦纳德，如果你想扯阴谋论，没人拦着你，但麻烦别说什么是格林指使他这样做的这种话。

They played the Spurs, without Tony Parker, and then Leonard went down, and they played the Spurs without Leonard.That's who was in front of them, and they beat who was in front of them.他们一开始面对的是失去了托尼-帕克的马刺，随后伦纳德不幸受伤，于是他们面对的变成了缺少了帕克和伦纳德的马刺。这就是他们遇上的对手，也是他们战胜的对手。

Yes, we can talk about what might have happened and those questions are truly interesting given how San Antonio has played them this year at full strength.But they did not play them at full strength.They played them without Leonard, and they swept them.That is a fact, and it is what happened.我们可以扯一下如果论，这将是个有意思的话题，毕竟马刺全员健康时面对勇士打出了令人叹为观止的表现。然而不幸的是，现在他们并非全员健康，失去了伦纳德的他们惨遭横扫，木已成舟，无法更改。

This season has not been “special.” The 2015-16 season was special.The 2014-15 season was special.This has been business.这个赛季说不上特别，此前的两个赛季都很特别，而这个赛季一切波澜不惊，这没什么问题。And that's OK.You don't get to decide how it feels, and all that magic that the Warriors created last year led to a result that earned them the most brutal set of public mockery ever unleashed on a single team.The Atlanta Falcons' Super Bowl lead has nothing on 3-1.毕竟勇士上赛季虽然在常规赛中举世震惊，但最终的结局却沦为了体育史上最可悲的大众笑柄，尽管亚特兰大猎鹰队在超级碗中也曾被耻辱逆转，但毕竟他们没有过3-1的大比分领先。

There's who the Warriors are, and there's how we experience them.If you're not a Golden State fan, we experience them as inevitability drawn to its furthest edge, the depravation of competition and uncertainty.这就是勇士队，这就是我们所见证了其兴衰的勇士队。如果你不是一名勇士球迷，我来告诉你，他们正处于危急存亡之秋，而我们正在竞技体育的残酷性和不确定性面前战战兢兢。We know the outcome, we're just watching to see how bloody the horror film is.But that does not change who the Warriors are.我们很清楚，一旦无法夺冠将会是怎样的腥风血雨，但无论怎样，勇士还是勇士，不会改变。They are efficient, focused, disciplined, precise, devastating and in the moment of a highlight, truly thrilling.他们效率极高，充满专注度和纪律性，办事精确无误，前进摧毁一切。在最紧要关头，他们

足以令对手闻风丧胆。

The Warriors are an elite team, not just this year, but historically, and have just capped off the most dominant Western Conference finals run, regardless of opponent, in NBA history.勇士有着悠久而辉煌的历史，而就在刚刚，他们打出了NBA历史上最残暴的西决统治。And they're Western Conference champions.现在，他们是西部冠军。

There's work to be done, there's revenge to be had, there's an actual, maybe, possible challenge on the horizon in a familiar foe who crushed their dreams so badly they went out and got the second-best player in the league.前路漫漫，他们要做的还有很多。在总决赛中，他们的老对手，去年让他们的努力化为南柯一梦的骑士，以及伟大的勒布朗-詹姆斯，也许终将带给他们真正的挑战。

But for right now, we have the Warriors, the best of the West, staking their claim to history, no matter how hard it may be to stay awake for their coronation.但勇士可是西部之王！纵使敌人无比强大，为了那场梦寐以求的加冕礼，他们必将全力以赴！