There are mainly three functions of IF: hedging, speculating and arbitraging.

The rise in the Euro-dollar exchange rate from, say, 1.10 in the spring of 2003 to 1.30 at the end of 2004 appears to have arbitraged away the presumed dollar trigger of the "next" crisis.

比方说，欧元对美元的汇率从2003年春的1.10上升到2004年末的1.30，这似乎是通过套利将美元引发“下一个”危机的假说消除了。

Unless that is solved, the world seems condemned to repeat the swings of recent years, as capital is arbitraged between countries where money is cheap to those where it is expensive.

如果这个问题得不到解决，全球似乎必将重复最近几年的波动，因为资金会在资金廉价的国家和资金昂贵的国家之间进行套利。

However, returns have fallen as more profit seekers have entered the sector, raising the possibility that excess returns are being arbitraged away.

然而，随着越来越多的利润寻求者进入市场，收益已经下降，增加了超额收益被套利交易掏空的可能性。

That means it is very difficult to see a situation of high oil prices and low coal prices, it is all arbitraged out.

这意味着，我们很难看到高油价、低煤价的局面&都通过套利活动消除了。

A second puzzle is why the effect has not been arbitraged away.

第二个谜团是，（财富）效应为什么不能产生持久的套利机会。

Newly created equity tends to be arbitraged across global businesses.

新创造的股本往往被用来在全球企业之间套利。

On another occasion I saw a group of disoriented, emaciated Amerindians, begging for food by the side of the road.

还有一次我看到了一群迷失了方向的印第安人，他们非常憔悴，站在路边乞讨食物。

Mr. Bowen is a pioneer in the US trade with China. a trail through the wilderness worn by Amerindians.

伯恩先生是一位美中贸易的开拓者。一种横穿荒野的由美洲人开拓的路。

1054-A supernova is observed by the Chinese and Amerindians near the star Tauri.

1054年的今天，一颗位于金牛座附近的超新星被中国及印第安人发现并记载。

A rain dance of Amerindians.

一种美国印第安人的祈雨舞蹈。

A painting done by Amerindians ( especially Navaho); made of fine colored sands on a neutral background.

印第安人（尤其是纳瓦霍人）作的画；在没有色彩的背景上用彩色沙子作成。

Early Amerindians related to the Pueblo Indians; known for skill in making baskets.

和普韦布洛印地安人有联系地早期美国印地安人；以编篮子的技术而闻名。

Paint applied to the face and body of certain Amerindians before a battle.

在战斗前涂于脸上或身上的油漆。

Any of the languages spoken by Amerindians. Name one of the major American Indian tribes in the United States.

任何一种被美国印第安人所说的语言。问：举出美国的一个主要印第安人部族。

A ceremonial dance performed by Amerindians at the summer solstice.

一种由美洲印第安人在夏至进行的祭奠舞蹈。

The Evolvement of Class Nature and Hierarchy of the English Aristocracy

英国贵族阶级属性和等级制的演变

A Review on the Studies of English Aristocracy in Modern Times

英国近代贵族政治研究述评

The highest-ranking member of the spanish aristocracy is the grandee.

西班牙贵族中爵位最高的成员乃是大公。

A century ago the aristocracy were truly lords of the earth.

一个世纪之前，贵族阶层是绝对的统治者。

She married into the aristocracy.

她因为婚姻关系而跻身贵族。