University of Leeds.m4a
利兹大学.m4a

说话人1 00:02
说话人 1 00:02
You can bunch of it. That's one of them. So
你可以把它捆在一起。这就是其中之一。

Omar 00:05
奥马尔 00:05
what you want to do is part of it. Probably,
你想做的事情是其中的一部分。可能，

说话人1 00:13
说话人 1 00:13
where do you live in?
你住在哪里？

Omar 00:14
奥马尔 00:14
Are we living in
我们生活在

说话人1 00:16
说话人 1 00:16
investment partners? That's beyond what we do
投资伙伴？那超出了我们的业务范围

Omar 00:21
奥马尔 00:21
on the
在上

说话人1 00:23
说话人 1 00:23
way ok
方式可以

Omar 00:24
奥马尔 00:24
so I just need to get the situation. Right? I now we have how long is it? Yeah. No, I I think last year that monkeys can be a little bit.
所以我只需要了解情况。对吗？我现在知道这要多久？是的。我，我认为去年那些猴子可能有点。

说话人1 00:46
说话人 1 00:46
Where is
在哪里

Omar 00:47
奥马尔 00:47
it? Is my children?
这是什么？是我的孩子吗？

说话人1 00:52
说话人 1 00:52
If the liverpool support?
如果利物浦支持？

Omar 00:57
奥马尔 00:57
No, ii don't know, isn't it? So it is
不，我不知道，不是吗？所以就是这样

说话人1 01:02
说话人 1 01:02
really difficult.
真的很困难。

Omar 01:03
奥马尔 01:03
No. It's been from the same,
不。这一直是一样的。

说话人1 01:07
说话人 1 01:07
it's a good thing about it. I'm a liverpool supporter. Are you so difficult to get tickets? I've only been to let to ask your voice.
这是一件好事。我是利物浦的支持者。买票这么难吗？我只去过一次，想问问你的意见。

Every time I had to fail to the roof,
每次我不得不失败到屋顶

Omar 01:30
奥马尔 01:30
my voice can take me to you.
我的声音可以带我去你那里。

说话人1 01:33
说话人 1 01:33
Just take
只需采取

Omar 01:33
奥马尔 01:33
it. It's about the treatment, right? What right?
它。是关于治疗，对吗？什么权利？

说话人1 01:41
说话人 1 01:41
Now you're doing the two modules. That's the, yeah, that's probably is already keeping you
现在你正在进行这两个模块。这，嗯，这可能已经让你忙碌不已。

Omar 01:49
奥马尔 01:49
pretty busy and tools. Yeah.
相当忙碌和工具。是的。

Are you too boring? I just listening. I don't want. I suppose one 0 k
你太无聊了吗？我只是听听。我不想。我想一个 0 k。

说话人1 02:06
说话人 1 02:06
look at that.
看看那个。

Omar 02:08
奥马尔 02:08
Is it? So what's the problem for everyone? Why is it? I don't know. I don't find economics. This one is another person.
是吗？那么对大家来说问题是什么？为什么会这样？我不知道。我对经济学没有兴趣。这是另一个人。

说话人1 02:19
说话人 1 02:19
It's a pretty mathematical.
这相当数学化。

Omar 02:21
奥马尔 02:21
I'm not a mathematical person at school, but I do not like the model. I'm a very graphical person. So when I wanna show how things happen and the dynamics of something a different like, because I didn't we operated by commanders and how you shouldn't come up.
我在学校时不是一个擅长数学的人，但我不喜欢这个模型。我是一个非常注重图形的人。因此，当我想展示事物是如何发生的以及某种事物的动态时，我会以不同的方式进行，因为我没有通过指挥官来操作，以及你不应该这样做。

Until last week, we did a production possibility to every economic student. We have seen a production possibility frontier. But if you have none political science, I don't know whether you've ever seen the production facility. So it's a
直到上周，我们对每位经济学学生进行了生产可能性分析。我们看到了生产可能性边界。但是如果你没有政治学背景，我不知道你是否见过生产设施。

说话人1 02:54
说话人 1 02:54
your bachelors was in finance, right
你的学士学位是金融专业，对吗？

Omar 02:58
奥马尔 02:58
management. By nationalism,
管理。通过民族主义，

说话人1 03:01
说话人 1 03:01
I

you have a very mathematical background. It's not economics.
你有很强的数学背景。这不是经济学。

Omar 03:06
奥马尔 03:06
More mobile company,
更多移动公司，

说话人1 03:10
说话人 1 03:10
it was more of the finance,
这更多是关于金融的

Omar 03:13
奥马尔 03:13
basic microcoming concepts like national activities, and why all these things that are kind of assumed to be.
基本的微观概念，如国家活动，以及为什么所有这些事情被认为是理所当然的。

But I I assume my students you might
但我假设我的学生你们可能

说话人1 03:26
说话人 1 03:26
I know, ii I did actually all my degrees in economics.
我知道，我实际上获得的所有学位都是经济学。

And then later on, I was like this is all rubbish. I need to work political economy and economic history. So, yeah, I remember that for especially the masters in economics, it was just pure math.
然后后来，我觉得这一切都是废话。我需要研究政治经济学和经济历史。所以，我记得特别是经济学硕士课程，完全是纯数学。

It was just like control theory. And
这就像控制理论一样。

Omar 03:50
奥马尔 03:50
i'm surprised you didn't mention the masters. What
我很惊讶你没有提到硕士。

说话人1 03:56
说话人 1 03:56
is the phd as well? I did my phd and like dgsd model.
博士也是吗？我完成了我的博士学位，并且喜欢 dgsd 模型。

Omar 04:01
奥马尔 04:01
You are really a late converter. Wow. Why did you do your ph hd because
你真是个晚转换者。哇。你为什么要攻读博士学位呢？

说话人1 04:08
说话人 1 04:08
I don't hurt. So ii did actually all my degrees there. So it's a bit sad
我没有受伤。所以我实际上在那里完成了我所有的学位。这有点令人伤心。

Omar 04:12
奥马尔 04:12
and they needed the then looks
他们需要当时的样子

说话人1 04:16
说话人 1 04:16
like 3 %.
像 3%。

Omar 04:17
奥马尔 04:17
It's amazing. It's the kind of people we know to show the other way. There is somebody in an economic loss when he gets it and decided to do you do like.
这真令人惊讶。这是我们知道的那种人，表现出另一种方式。当他获得它时，有人遭受经济损失，并决定像你一样去做。

说话人1 04:28
说话人 1 04:28
That's the only benefit of it is now you. Yeah, because how economics people like could look down on people who don't do like economics
这就是它唯一的好处，现在是你。是的，因为经济学的人可能会看不起那些不从事经济学的人。

Omar 04:36
奥马尔 04:36
and you can do that.
你可以做到这一点。

说话人1 04:37
说话人 1 04:37
No, it
不，它

Omar 04:38
奥马尔 04:38
is, i'm speaking your turn, but I think it's so cool.
我在说你的回合，但我觉得这太酷了。

说话人1 04:44
说话人 1 04:44
But I know it's I especially in terms of earning. I reached my because after I did that phdi worked in mechanism. So that was the highest ever made 20th. And she said it's just been going down.
但我知道这尤其是在收入方面。我达到了我的目标，因为在我完成那个博士学位后，我在机制方面工作。因此，那是我有史以来最高的收入，达到了 20 万。她说这只是一直在下降。

Omar 04:59
奥马尔 04:59
And then you decided to do an academic career.
然后你决定从事学术事业。

说话人1 05:02
说话人 1 05:02
Then iii went to academia. I ii didn't want to do.
然后我去了学术界。我不想这样做。

Anyway. What's the
无论如何。那是什么

Omar 05:10
奥马尔 05:10
money?
钱？

说话人1 05:11
说话人 1 05:11
Early? I wasn't exactly. It was basically, I don't know. I can't spend my life doing this, even for the practice, went back to virginia, but then it was more critical and stuff. So I never had like training. It was also got a kind of critical approaches and so on was all myself reading, but i'm happy. I did the switch. And
早期？我并不是。基本上，我不知道。我不能把我的一生都花在这个上面，即使是为了练习，回到了弗吉尼亚，但那时情况变得更加严峻等等。所以我从来没有接受过训练。那也是一种批判性的方法，都是我自己阅读的，但我很高兴我做出了这个转变。

Omar 05:40
奥马尔 05:40
is that your first academic job? Or have you had an
这是你的第一份学术工作吗？还是你有过其他的工作？

说话人1 05:42
说话人 1 05:42
academic? No, I I worked for a long time ago. I I after the phdi taught for a year and also, but that was like a stipend, your lecture.
学术？不，我很久以前工作过。我在获得博士学位后教了一年，但那只是一个津贴，你的讲座。

I did mckinsey for a couple of years. Ii did like imf for a short time, so all the evil places of where I actually worked in the imf the world bank, and mckinsey. So I did all the evil places. And then I was like, I have done enough evil things. I will I was mainly like starting up a research center, tied to a university back in the gulf. So I did that actually, for 10 years, I worked in that university and research center. Then after that, I I get here. Yeah, actually back there. Then ii got a lot of economics when I was at the university, so which was and
我在麦肯锡工作了几年。我在国际货币基金组织（IMF）工作过一段时间，所以我实际上在 IMF、世界银行和麦肯锡这些“邪恶”地方工作过。我做过所有这些“邪恶”的工作。然后我想，我已经做了足够多的邪恶事情。我主要是在海湾地区创办一个与大学相关的研究中心。实际上，我在那所大学和研究中心工作了 10 年。之后，我来到这里。是的，实际上是在那边。然后我在大学时学到了很多经济学。

Omar 06:38
奥马尔 06:38
your decision and your decision to come here was also decision to leave the door or
你的决定，以及你决定来这里，也是决定留下门的

说话人1 06:42
说话人 1 06:42
yeah, long story. I don't wanna bore you guys with it,
是的，长话短说。我不想让你们觉得无聊。

Omar 06:47
奥马尔 06:47
but it's
但它是

说话人1 06:47
说话人 1 06:47
no,
不，

Omar 06:49
奥马尔 06:49
it's okay,
没关系，

说话人1 06:50
说话人 1 06:50
but I am the research center started to get in troubles from the authorities and stuff.
但我所在的研究中心开始遭遇来自当局等方面的麻烦。

Eventually the university were like, we're shutting it down. And they were like, if you wanna and they actually didn't even wanna, they started like even the teaching, they basically didn't want me around anymore. They thought I was too much trouble. And I was like, I for me, research is important and i'm not gonna just sit there and do nothing that I want to do. So I was like move.
最终大学方面表示，他们要关闭这个项目。他们说，如果你想的话，但实际上他们甚至不想，他们开始连教学都不想让我在场。他们觉得我太麻烦了。我对我来说，研究是重要的，我不会就这样坐着什么都不做。所以我就决定离开。

Omar 07:32
奥马尔 07:32
Yeah.
是的。

说话人1 07:34
说话人 1 07:34
So then I got the job. I know
所以我得到了这份工作。我知道

Omar 07:36
奥马尔 07:36
you critical of the regime in your business center.
你对你商业中心的政权持批评态度。

说话人1 07:40
说话人 1 07:40
Minutes, the definition of critical for them is really saying anything that is not like praise is basically critical. But I so it was definitely like literally, anything you write would be considered critical, right? Like if you classify that as an authoritarian regime, this is, yeah. But anyhow, that's the story of how I ended up coming here. But so the first year I was here was the first year that like with the masculine.
会议记录，他们对批评的定义实际上是说任何不赞美的言论基本上都是批评。但我觉得，确实是字面上，你写的任何东西都会被视为批评，对吧？比如如果你将其归类为专制政权，这就是，是的。不过，无论如何，这就是我最终来到这里的故事。但我在这里的第一年正是与男性气质相关的第一年。

Omar 08:21
奥马尔 08:21
All right. So it was really and you see this is your second or you've heard
好的。所以这实际上是你的第二次，或者你听说过。

说话人1 08:24
说话人 1 08:24
this is the third year you
这是你第三年

Omar 08:26
奥马尔 08:26
starting the busy, you have to probation.
开始忙碌，你必须进行试用。

说话人1 08:28
说话人 1 08:28
Ii iii become associate professor twice. I because I I was there then, but when they were here, they're like, we only have the position open at at a grading lecture level,
我两次成为副教授。我因为当时在那儿，但当他们在这里时，他们说，我们只有一个开放的职位，级别是讲师。

Omar 08:42
奥马尔 08:42
but they promote
但它们促进

说话人1 08:43
说话人 1 08:43
you, but they were like you can get promoted
你，但他们说你可以晋升

Omar 08:46
奥马尔 08:46
actually already on ap level.
实际上已经达到了 AP 水平。

说话人1 08:48
说话人 1 08:48
So thankfully, iii got the probation and that done last year.
所以感谢上天，我去年得到了缓刑。

Omar 08:53
奥马尔 08:53
Now you just need to sort the family situation.
现在你只需要理顺家庭情况。

说话人1 08:56
说话人 1 08:56
Now I need to sort out the family situation, so because I obviously can't get a job in the gulf anymore. So
现在我需要理清家庭状况，因为我显然无法再在海湾地区找到工作。

Omar 09:02
奥马尔 09:02
for the whole goal
为了整个目标

说话人1 09:03
说话人 1 09:03
creations out, I there might be pretty much.
创作出来，我可能差不多在那儿。

Omar 09:08
奥马尔 09:08
She either go back to the finance world
她要么回到金融界

说话人1 09:11
说话人 1 09:11
or
或

Omar 09:15
奥马尔 09:15
even that be problematic.
即使那也是有问题的。

说话人1 09:18
说话人 1 09:18
Who knows? I haven't tried it while to be honest.
谁知道呢？说实话，我还没有尝试过。

Omar 09:23
奥马尔 09:23
I'm sorry,
对不起，

说话人1 09:23
说话人 1 09:23
no, it's fine. It's done. It's gonna happen. I it's been 3 years now, so always been
不，没关系。已经完成了。这将会发生。我已经等了三年了，所以一直都是这样。

Omar 09:30
奥马尔 09:30
there. I'm
那里。我是

说话人1 09:30
说话人 1 09:30
happy to be here. We've got good colleagues, good students, but then I the marking is, I think the central university is the issue of these terrible. It's terrible like it's too centralized that they just dictate everything that they want to. They want us to be
很高兴来到这里。我们有优秀的同事和优秀的学生，但我认为中央大学的问题在于评分系统。这太糟糕了，过于集中化，他们只是想要我们按照他们的要求去做。

Omar 09:56
奥马尔 09:56
and very slow and very I
和非常慢和非常我

说话人1 09:59
说话人 1 09:59
things like I for example, this year they did. I don't know if they did it. It's coming, by the way, if it hasn't happened yet, we were, I think, the testing ground like any dissertation, you got guys have any dissertation before it used to be that the supervisor is the one that marked the dissertation.
像我这样的事情，例如，今年他们做了。我不知道他们是否做了。顺便说一下，如果还没有发生的话，它正在到来，我们，我认为，我们是一个试验场，就像任何论文一样，你们有没有任何论文，以前通常是导师来评分论文。

So your supervisor marked your dissertation, right? Then the ma it was a popular, right? I think is it that way with you guys? So they in the middle of last year suddenly changed that they were like no longer. It's gonna be a different marker. Only one marker who has never seen the dissertation before often has no idea about the topic. It's only one marker, so even that's where the student that's just got imposed by faculty. Obviously, the reason they did this is they wanted to strike us. They basically because they got into issues with the we were kind of the most problematic, for example, right? They just imposed it and it was horrible last year. It was horrible. I
所以你的导师给你的论文打分了，对吧？那么这是一篇受欢迎的论文，对吧？我想你们也是这样吗？所以他们在去年年中突然改变了，决定不再使用之前的评审。只有一个评审，他之前从未见过这篇论文，通常对这个主题一无所知。只有一个评审，所以即使这样，学生也只是被学院强加的。显然，他们这样做的原因是他们想要打击我们。基本上，因为他们遇到了问题，我们算是最麻烦的那一类，对吧？他们就这样强加了这个规定，去年真是糟糕透了。真是糟糕。

Omar 11:08
奥马尔 11:08
because particularly the dissertation you can be really you take these students with you, you kind of want to see how they learn. You also if you have very different, at least in economics, if you have very different methodological approaches.
因为特别是论文，你可以真正带着这些学生，你想看看他们是如何学习的。如果你有非常不同的方法论，至少在经济学中，如果你有非常不同的方法论。

So one of my students, it is like a political economy analysis gets an economic chic market. You very often get quite 5 months and
所以我的一位学生，进行政治经济分析时，得到了一个经济时尚市场。你很常会得到相当多的 5 个月。

说话人1 11:30
说话人 1 11:30
you're as a marker, you suddenly get a dissertation you never saw before. On a topic you might not be much about. And the workload is the same. So you got 2 hours to read 12 at 15,000 words that you've never seen before. And you're supposed to pass a judgment and you're the only one, there's no double market. So i'm
作为评审，你突然收到一篇你从未见过的论文。主题可能你并不太了解。而工作量是一样的。因此，你有 2 个小时来阅读 12 篇各 15,000 字的论文，这些论文你从未见过。你需要做出判断，而你是唯一的评审，没有双重评审。

Omar 11:55
奥马尔 11:55
interested to see because the business school, in essence, were a little bit lucky because we are the money spent on. Yeah, we have a bit more autonomy and power against it for university. And there is not much,
感兴趣的是，因为商学院本质上有点幸运，因为我们花费了资金。是的，我们在大学中拥有更多的自主权和权力。而且没有太多。

说话人1 12:07
说话人 1 12:07
the only ones that they did this last year was us. But there they're planning to roll it out unless we push back. And so far, people are just demoralized.
唯一在去年这样做的只有我们。但他们计划推出这个，除非我们反对。到目前为止，人们只是感到士气低落。

So anyway, so we shouldn't means you'll think now that we're all like,
所以无论如何，我们不应该意味着你现在会认为我们都是这样的，

Omar 12:24
奥马尔 12:24
yeah, but universities are biased, right? Shall we focus on your little? So I had a look at this and I think I said my main comment, so I think the album is good. I think my main comment was is that as already seen, I said in my email and a second for, I think we need to be very clear why these transfer mechanisms between with their accumulation to the sovereign wealth map task. Why is it important to know how about it? Happens mechanically? As interesting as it is, we wanna make bigger conception and analytical contributions.
是的，但大学是有偏见的，对吧？我们要关注你的小点吗？所以我看了一下这个，我想我已经说了我的主要评论，我认为这张专辑很好。我认为我的主要评论是，正如已经看到的，我在我的电子邮件中提到过，第二点是，我认为我们需要非常清楚这些转移机制与主权财富地图任务之间的积累为什么重要。了解它是如何机械地发生的很重要。尽管这很有趣，但我们想要做更大的概念和分析贡献。

Well, I think my second question was also with regards, because in your second part, you asked the question about effectiveness. Yeah. And there my question was effectiveness with regard to what do we expect with the population or some involvement to achieve them.
好的，我认为我的第二个问题也是与此相关，因为在您的第二部分中，您提出了关于有效性的问题。是的。我的问题是，有效性是针对我们对人群或某些参与的期望来实现的。

So how can you mention? I guess I would thought one more, much immediate question to your what you send us.
那么你怎么能提到呢？我想我会想到一个更直接的问题，关于你发给我们的内容。

说话人1 13:22
说话人 1 13:22
I don't know if ii should add. Ii think I exactly similar. Let me just bring up the ones I wrote down. Yeah. So I think you're this is what you've got as great as a start, or you're now you're trying to put together the mechanism, right? Which is already, there's quite a lot in there, like there is, how can I put the mechanisms together? We can discuss the parts of it, but then to link it, I think exactly what and is saying. The question becomes, why? What is the goal of that? What is the goal? Or what is the aim that is formed the way that this is organized? Right? And this guys to the point that that nina mentioned on the effectiveness, which is given what is the goal, then how do we evaluate? How is it effective? Right?
我不知道我是否应该添加。我认为我完全相似。让我提一下我写下的内容。是的。所以我认为你这是一个很好的开始，或者你现在正在尝试将机制组合在一起，对吧？里面已经有很多内容，比如，我该如何将这些机制组合在一起？我们可以讨论其中的部分，但要将其联系起来，我认为正是这样的问题。问题变成了，为什么？这个目标是什么？这个组织方式的目标是什么？对吧？这与尼娜提到的有效性有关，既然目标是什么，那么我们如何评估？它是如何有效的？对吧？

So it might be that the goal that you reach is the whole goal of this is to kind of Provide reserves to kind of defend the whole american dollar exchange points, right? That might be the goal. It might be that the other goal, another goal, or the main goal, is that to have kind of the geopolitics of it, right? To have a sovereign wealth fund that can further particular goals. I ii honestly don't know. This is what would be interesting to to find out is like, what is what was the goal or what were the aims that based on it? You had these structures and mechanisms to be based on that. And then based on that, we can evaluate what is it effective? And whatever is the goal that is being reached. So is the goal of more like to have dollar reserves? Maybe that's one of the goals. Another is it to have kind of to further particular geopolitical goals? Is it to kind of more internally to have like structures to deal with kind of the different projects that are done internally, whether they're real estate projects or whatever it is.
所以，您达到的目标可能是整个目标就是提供储备，以捍卫整个美国美元的兑换点，对吧？这可能是目标。另一个目标，或者主要目标，可能是考虑到地缘政治，对吧？拥有一个可以进一步实现特定目标的主权财富基金。我老实说不知道。这就是有趣的地方，想要找出的是，基于此，目标是什么，或者说目标是什么？您有这些结构和机制是基于此的。然后基于此，我们可以评估它是否有效，以及所达到的目标是什么。那么，目标是否更像是拥有美元储备？也许这就是其中一个目标。另一个目标是进一步实现特定的地缘政治目标？还是更内部地拥有一些结构来处理内部进行的不同项目，无论是房地产项目还是其他项目。

And I think finally, to tie that with what the need has been saying about, what is, I think the part that still will need to eventually come is what is the analytic framework that comes to kind of put this together? Right? You mentioned the effectiveness framework that you had. Ii don't know what is that framework. So that's something to kind of discuss more. But again, if you tell it as effective in what and what is kind of the analytic framework that we want to put that in is a kind of a state capitalism kind of thing. Is it more defending the exchange rate kind of dollar what they call like bretton woods? 2 . 0 right? That's the name retin woods, 2 . 0 kind of thing where china accumulates dollar reserves, exports and accumulate dollar reserves.
我认为最后，结合需求所提到的内容，我认为最终需要出现的部分是一个分析框架，用来将这些内容整合在一起。对吗？你提到了你所拥有的有效性框架。我不知道那个框架是什么。因此，这需要进一步讨论。但再说一次，如果你说它在什么方面是有效的，以及我们想要将其放入的分析框架是什么，这是一种国家资本主义的概念。它是否更倾向于捍卫汇率，类似于他们所称的布雷顿森林 2.0？对，这就是布雷顿森林 2.0 的概念，中国积累美元储备，出口并积累美元储备。

Omar 16:34
奥马尔 16:34
Right?
对吧？

说话人1 16:35
说话人 1 16:35
I think those would be the 2 points that I would add to it is with the kind of mechanisms as the goals and aims with it.
我认为我会补充的两点是与其目标和目的相关的机制。

And then also the the analytic framework to kind of think about that to put things goes together. I think that's it's the same thing. I think I would add to what it has, because already I can see that depending on how you want to take it, there is so much that you can do, right? I there is. One is like, even just outlining that mechanism is kind of gonna be so much within it.
然后还有分析框架，以便思考并将事物结合在一起。我认为这是一回事。我认为我会在已有的基础上添加一些内容，因为我已经可以看到，根据你想要的方式，有很多事情可以做，对吧？我认为其中之一就是，仅仅概述那个机制就会包含很多内容。

Then it sounds like if you end up wanting to choose one particular or 2 kind of specific examples are not examples of us particular funds or yeah, wealth funds, right? That's where they are, right? The specific examples. So that's already like 23 chapters once we get to that stage and on above that as well, the analytic framework. Yeah. So there is, I think, already quite a bit, which you'll that we can start to think of how to start to putting it
那么听起来如果你最终想选择一个特定的或两种特定的例子，这些例子并不是我们特定基金或财富基金的例子，对吧？它们就在那儿，对吧？这些具体的例子。因此，一旦我们达到那个阶段，这已经像是 23 章了，此外还有分析框架。是的。所以我认为，已经有相当多的内容，我们可以开始思考如何开始将其整理。

Omar 17:55
奥马尔 17:55
together. It's a big challenge.
一起。这是一个很大的挑战。

Right? Could I check my draft book? I made some notebook. I made some I section. I use some chinese and english.
对吗？我可以检查我的草稿书吗？我做了一些笔记。我做了一些章节。我使用了一些中文和英文。

So basically I want to start, I want to combine management and international commercial and environment. I have seen a lot of series like I see series of international reserve. Yes.
所以基本上我想开始，我想结合管理、国际商业和环境。我看过很多系列，比如我看到国际储备的系列。是的。

说话人1 18:47
说话人 1 18:47
I

Omar 18:49
奥马尔 18:49
I have tried to raise this theory. I'm not sure. Too much. Maybe this is our country.
我试图提出这个理论。我不确定。太多了。也许这是我们的国家。

说话人1 19:00
说话人 1 19:00
No, iii get it. So you're trying to look at the different theories of how to approach it. This is drifting, which is kind of the idea of like the drifting dilemma. Now, so I you've obviously started thinking about these different series.
不，我明白了。所以你是在尝试研究不同的理论来处理这个问题。这是漂移，这有点像漂移困境的概念。现在，你显然已经开始思考这些不同的系列。

So what I would, I first of all, I it's, I guess at a wider level is, I don't know what you think about what we both saw. What we both just said like, is it does that sound for you like kind of the approach that you want to take? And it looks here. You're mainly looking at different ways of how it's more like a practical kind of how do you allocate different optimal portfolios, right? So that's, I think this is what you need time. What you're gonna need to now spend some time thinking about is that is that the approach that you want to go down, or do you want to also combine it with something that is kind of more from a critical perspective, which is kind of looking at why the kind of what I was kind of mentioning before is.
所以我首先想说的是，我不知道你对我们所看到的内容有什么看法。我们刚才说的这些，对你来说听起来像是你想采取的那种方法吗？在这里看来，你主要是在寻找不同的方式，更像是一个实用的，如何分配不同的最佳投资组合，对吧？所以，我认为你现在需要花时间思考的是，这是否是你想走的方向，或者你是否也想将其与一些更具批判性视角的内容结合起来，这种视角是关注我之前提到的那些问题。

And what and was saying was that like, first of all, what is it that it is effective in? What is the goal that you wanted to be effective in? And then how can you kind of conceptualize that goal? Right? So if the goal is, or if the aims are more like geopolitical, or if the aim is more kind of managing dollar reserves, or kind of trying to deal with the whole america. Bretton woods, 2 . 0 kind of relationship where i'm dependent on the dollar. But at the same time, i'm not the one who controls the dollar, right?
首先，它有效的是什么？你希望在哪个目标上取得成效？然后你如何能够概念化这个目标？对吧？所以如果目标是，或者说目标更像是地缘政治，或者目标更像是管理美元储备，或者试图处理整个美国的布雷顿森林 2.0 关系，我依赖于美元，但同时，我并不是控制美元的那个人，对吧？

Depending on what the goal is, then you can then look at what are the different theories to evaluate that goal, because these are these so far are from the little i've seen and know about them. They're very kind of like, how can I financially optimize micro total distribution, right? Which if your goal is profit maximization or financial risk diversification, right? But the question before that, that you will have to think about is that the goal?
根据目标的不同，您可以考虑评估该目标的不同理论，因为到目前为止，我所了解的这些理论都是这样。它们非常类似于如何在微观总分配中进行财务优化，对吧？如果您的目标是利润最大化或财务风险分散，对吧？但在此之前，您需要思考的问题是：目标是什么？

Omar 21:40
奥马尔 21:40
Yeah, should I focus one goal? Or I could only one goal? No. It could be several goals, and it could be that. So I think, as am I saying that 40, 50, it seems to be a very happy people. So new, classical, technical finance area justification to say I have reserve. I want to diversify them. Where do I allocate them to that for a few minutes? Welcome. They conducted xu asset asset, and then that so this is basically portfolio allocation. The question.
是的，我应该专注于一个目标吗？还是我只能有一个目标？不，可以有多个目标，可能就是这样。所以我认为，正如我所说的，40 岁、50 岁的人似乎是非常快乐的。因此，在新的、经典的、技术金融领域，有理由说我有储备。我想要对它们进行多样化。我应该将它们分配到哪里呢？欢迎。他们进行了资产配置，因此这基本上就是投资组合配置的问题。

And so then the question is, then, so what kind of role would this be addressed? That's what kind of aim of the, as opposed to central bank in china or the state of china? What goal is this addressing? What does that help us unchanged? And then the question is that the only goal is that the real goal are the other countries, are the political economy considerations, the exchange rate system. So I don't think there is one goal, but I think what we probably need is a clear. So when we look into the explanatory agreement, we need a clear identification that we think all your difference. Again,
那么问题是，这将扮演什么样的角色？这与中国的中央银行或中国的国家有什么不同？这个目标是什么？这对我们有什么帮助？然后问题是，唯一的目标是其他国家，还是政治经济的考虑，还是汇率体系。因此，我认为并没有一个单一的目标，但我认为我们可能需要的是一个明确的目标。因此，当我们审视解释性协议时，我们需要明确识别出我们认为的所有差异。

说话人1 23:00
说话人 1 23:00
you don't have to come up with the answer immediately. Obviously, this is something that you will have to eventually research. Just to start with is maybe to math the kind of different goals, right? Like, like we said geopolitics, because do you remember you started up looking at the geopolitics of it? Right? That was the beginning.
你不必立即想出答案。显然，这是一件你最终需要研究的事情。首先，可能要考虑不同的目标，对吧？就像我们说的地缘政治，因为你还记得你最初是从地缘政治的角度来看这个问题的吗？对吧？那是开始。

So obviously, you thought that was the goal, right? Or maybe whatever I so that's one you might need to think.
显然，你认为那是目标，对吧？或者也许无论我说什么，这都是你需要考虑的事情。

What would be the what are the goals on that level? What are the goals in terms of the reserves managing of the whole? What I just keep saying is call it as reckon. What's 2 . 0 right? Is that part? Is that another goal? Third goal is maybe optimal kind of profit maximization, which I would say would have suspected is probably not the primary goal. Yeah, but
在那个层面上的目标是什么？在整体储备管理方面的目标是什么？我一直在说的就是这样称呼它。什么是 2.0，对吧？那是其中一部分吗？另一个目标？第三个目标可能是最佳的利润最大化，我会说这可能不是主要目标。是的，但

Omar 24:00
奥马尔 24:00
so I guess the big research question, is it? Let me just take this step back. So I guess the big research question is trying to rest as well. You tell me whether that's correct. Why is the central bank of china using sovereign wealth funds? Why does it tend to china put its results into it? Is that the question? Is that the question? I think this no, because I I think we have two different phenomena. We have one it's reserve regulation and the other one of the rise of summer development.
所以我想主要的研究问题是这样吗？让我退一步。主要的研究问题是试图休息一下。你告诉我这是否正确。为什么中国的中央银行使用主权财富基金？为什么中国倾向于将其结果投入其中？这是问题吗？这是问题吗？我认为不是，因为我认为我们有两个不同的现象。一个是储备调节，另一个是夏季发展的崛起。

But I I guess what I have the question is what you're trying to do is to link those to another question. Why is the central bank of china and actually other people ask using sovereign wealth is to use these reserves or to kind of absolutely. Some of this is. And I guess probably from a very classical finance technical point of view and say, because they need to diversify, they need to make some returns. Yeah, it's just holding treasury bills is really not the most, et cetera. So they're using several month funds to maybe make some more returns on the 3 days. Is that a fair? And that's probably where some of these theories are, right? So they would explain to us on the standards. Why? So above us, all have become a tool of schooling, managing trillions of presents, correct. But then the question becomes, is that the only way as critical political economists, do we think there might be other reasons, other than chosen portfolio, diverse situation, return seeking behavior? Is there something in sovereign wealth funds, which is of geopolitical interest that makes it easier to manage reserves or something?
但我想我有一个问题，你试图做的是将这些与另一个问题联系起来。为什么中国的中央银行以及其他人使用主权财富基金来利用这些储备，或者说绝对地。这其中的一些原因，我想从一个非常经典的金融技术角度来看，可能是因为他们需要多样化，他们需要获得一些回报。是的，仅仅持有国债并不是最好的选择，等等。因此，他们使用几个月的资金来可能在三天内获得更多的回报。这算公平吗？这可能就是一些理论的来源，对吧？所以他们会向我们解释标准。为什么？所以在我们之上，所有这些都成为了管理数万亿资产的工具，对吗？但问题是，作为批判性政治经济学家，我们是否认为除了选择投资组合的多样化、追求回报的行为之外，还有其他原因？在主权财富基金中是否存在某种地缘政治利益，使得管理储备变得更容易，或者其他什么？

So I think, yeah, ii guess that's our business. So I think so this is fine. I think that could be a good starting point. But I think both of them and ii think that's important, i'm saying is that as critical political economists, that's not enough. We're not find these people. We don't want to kind of optimize the early we want to understand what are the political economy that I was doing?
所以我认为，是的，我想这就是我们的业务。所以我认为这很好。我认为这可以是一个好的起点。但我认为他们两个都很重要，我想我所说的是，作为批判性的政治经济学家，这还不够。我们并没有找到这些人。我们不想仅仅优化早期的东西，我们想理解我所做的政治经济是什么。

So we can start with this. We can write it down. We can find this kind of technical explanation, at least a a as a point of starting point, then it would be very useful. So to say, so in your classical mainstream perspective, see this use of some wealth funds to manage reserves purely from a portfolio management perspective.
所以我们可以从这个开始。我们可以把它写下来。我们可以找到这种技术解释，至少作为一个起点，那么这将非常有用。可以说，从你们的经典主流视角来看，看到一些财富基金从投资组合管理的角度来管理储备的使用。

Then we, as political economists, remember by london and ask, asking, is there anything else? Is that fair?
然后我们作为政治经济学家，回想伦敦并问，问道，还有其他吗？这公平吗？

说话人1 26:56
说话人 1 26:56
I think, exactly. And I that's the exactly. Why is it that? And obviously, then what you've started a bit is how which the mechanics of it and how it works. We'll get to it, which you did the mapping for. But that's, I think, exactly the kind of the question is how well to start off is why why is that? Is there this connection? And what are the reasons for?
我认为，正是如此。这就是为什么会这样？显然，你开始探讨的是它的机制以及它是如何运作的。我们会讨论你所做的映射。但我认为，问题的关键在于，首先要问的是，为什么会这样？这种联系是什么？原因又是什么？

Omar 27:24
奥马尔 27:24
So I think basically, one reason is a political reason, because I I saw the book you sent to me. Yeah,
所以我认为基本上，一个原因是政治原因，因为我看到了你寄给我的书。

说话人1 27:33
说话人 1 27:33
I think
我认为

Omar 27:34
奥马尔 27:34
she think because of the debate between leader of ccp a little central bank and a little ministry of financial. I three part. We have a debate at the time, and they finally decision to create aa sovereign fund to manage foreign with china reserve. That's a better decision for them.
她认为这是因为中共中央领导与小型中央银行和小型财政部之间的辩论。我有三个部分。我们当时进行了辩论，他们最终决定创建一个主权基金来管理与中国储备相关的外汇。这对他们来说是一个更好的决定。

But why did they come to that conclusion?
但他们为什么得出那个结论？

说话人1 28:10
说话人 1 28:10
You don't have to have the answer, but this what we're saying is kind of there where it could to look into. Because I as you said, I think part of it to answer that question, it might have to be that you need to do a bit of historical digging, right? Because these sovereign wealth funds, again, as I understand, I from the little I know about them, a lot of them were created in the late 90s and in the early 2000s. Right? So the question is, why? If they can go, then we need to stay. You don't need to have the answer, right? But that might be something that you want to. If you're if you decide to go down the road, that might be something that you might want to have to look into. Right?
你不必有答案，但我们所说的内容在某种程度上是值得关注的。正如你所说，我认为回答这个问题的一部分可能需要进行一些历史挖掘，对吧？因为这些主权财富基金，正如我所理解的，从我所知道的很少的情况来看，它们中的许多是在 90 年代末和 2000 年代初创建的。对吧？所以问题是，为什么？如果他们可以离开，那么我们需要留下。你不需要有答案，对吧？但这可能是你想要考虑的事情。如果你决定走这条路，这可能是你需要深入研究的内容。对吧？

Omar 28:55
奥马尔 28:55
Why? For example, use market based financial institutions to play in the global financial system, rather than channeling all these reserves into development banks. As they used to be 30 years ago, there are a lot of kind of big shifts going on. Just in the way finance is organized, how developing countries engage with global finance.
为什么？例如，利用市场基础的金融机构参与全球金融体系，而不是将所有这些储备转向开发银行。与 30 年前相比，正在发生许多重大变化。仅在金融组织的方式上，发展中国家与全球金融的互动方式就发生了变化。

These are all kind of big questions, which I think are there. I I need to be kind of touched upon in in your understanding of why and of why this is happening. And but the important thing is the first one to research that. So I think this is why we need the literature. So I think this is why we need literature on this part. So what does the literature say about the role of sovereign wealth funds in the global political economy? Why are suddenly developing countries using sovereign wealth funds to allocate them? Suspense?
这些都是一些重要的问题，我认为它们存在。我需要在你对这些现象发生原因的理解中有所涉及。但重要的是首先要研究这个问题。因此，我认为这就是我们需要文献的原因。这就是我们需要在这一领域进行文献研究的原因。那么，文献对主权财富基金在全球政治经济中的作用有什么看法？为什么发展中国家突然开始使用主权财富基金进行配置？悬念？

说话人1 29:55
说话人 1 29:55
Specifically join them. I
具体地将它们结合起来。我

Omar 29:57
奥马尔 29:57
think
思考

说话人1 29:58
说话人 1 29:58
I think might be that for over the next period, not necessarily our next meeting, given that we have meetings every month or even more, but that might be something to look into. Is that part of what are the goals of the sovereign wealth points? And not necessarily, it might be that, like, if you start off with them generally, and then eventually you'd have to go specifically into the ones that you choose.
我认为在接下来的一个时期内，可能并不是我们下次会议的内容，考虑到我们每个月甚至更多次开会，但这可能是一个值得关注的事项。这是否是主权财富基金目标的一部分？并不一定，可能是，如果你一开始一般性地讨论它们，然后最终你必须具体讨论你选择的那些。

But the start of is, what is the goals of them? What does the literature say?
但开始是，他们的目标是什么？文献中是怎么说的？

Omar 30:32
奥马尔 30:32
I'm just kind of
我只是有点

说话人1 30:33
说话人 1 30:33
generally, and in china specifically,
一般来说，特别是在中国，

Omar 30:35
奥马尔 30:35
and just to clarify, these are certain goals.
并且为了澄清，这些是某些目标。

So this is not wrong. This is not wrong. These are certain goals. These are goals from a finance perspective. And i'm sure there is a truth in that, right? They are using some investments because it allows them to invest it abroad.
所以这并没有错。这并没有错。这些是特定的目标。这些是从金融角度来看设定的目标。我相信其中有一定的真理，对吧？他们正在利用一些投资，因为这使他们能够在国外进行投资。

说话人1 30:48
说话人 1 30:48
At the end of the day, they don't want to lose money. Right? Exactly. This is
最终，他们不想亏钱。对吧？没错。

Omar 30:51
奥马尔 30:51
true. This is correct. And I think that will have to be part of your narrative. So you're on the right track. So this is great. You are on the right track. Is it? So 111 week? Because for every research question, there are multiple answers, right? There is not one answer. This is to think of our reality. This is in math, maybe. But this is why we have decided they're not mathematicians. There are multiple reasons. There are multiple explanations. There are multiple research hypothesis. One research hypothesis is purely a portfolio management issue. I'm not these theories tell you that. But I think then what I am and I are trying to get you, it is also to think there might be other reasons.
这是真的。这是正确的。我认为这将是你叙述的一部分。所以你走在正确的道路上。这很好。你走在正确的道路上。是吗？所以 111 周？因为对于每一个研究问题，都会有多个答案，对吧？没有一个答案。这是思考我们现实的方式。这在数学中也许是这样。但这就是我们决定他们不是数学家的原因。有多个原因。有多个解释。有多个研究假设。一个研究假设纯粹是一个投资组合管理问题。这些理论告诉你这一点。但我认为我和我想要让你明白的是，也要考虑可能还有其他原因。

There might be other research reports and exploring those other and summarizing them in the literature review to say, okay, first reason, portfolio allocation, second reason, geopolitical consideration, third reasons, defensive developmental state consideration. Two lawyers are making it up.
可能还有其他研究报告，探索这些其他报告并在文献综述中进行总结，以说明，第一原因，投资组合配置，第二原因，地缘政治考虑，第三原因，防御性发展国家考虑。两个律师正在编造这些。

说话人1 31:56
说话人 1 31:56
Belt and road initiative, I don't know, like whatever we don't know.
一带一路倡议，我不知道，就像我们不知道的那样。

Omar 31:59
奥马尔 31:59
I think what we need is the start of a systematic literature review, which identifies all the reasons why it seems late 90s or all the rules, all the rules, all the reason, at least he knew what's out in there in the literature, right?
我认为我们需要的是系统文献综述的开始，识别出所有看起来像是 90 年代晚期的原因，或者所有的规则，所有的规则，所有的理由，至少他知道文献中有什么，对吧？

说话人1 32:15
说话人 1 32:15
What is your village? We
你的村庄是什么？我们

Omar 32:16
奥马尔 32:16
need to read the literature and we need to summarize what the literature tells us about the reasons why developing countries, in particular, china have started doing this, channeling the reserves into sovereign wealth portfolio allocation is one of them, and it's very important.
需要阅读文献，并总结文献告诉我们的关于发展中国家，特别是中国，为什么开始这样做的原因，其中将储备资金引入主权财富投资组合配置就是其中之一，这一点非常重要。

But that might be honest for you to be able to test all these different explanations, you need to have a map. What different people have said. And that's what we need to build. And that's a good starting point. But as you can see for a moment, my reactions were a bit like will be a political economist. We think there's something else, but
但为了能够测试所有这些不同的解释，你需要有一张地图。这是不同人所说的内容。而这正是我们需要构建的。这是一个好的起点。但正如你所看到的，我的反应有点像政治经济学家。我们认为还有其他东西，但

说话人1 32:54
说话人 1 32:54
because I think you've now got the you did quite a bit on the mechanisms which is how, okay, which is you will come to that eventually. But now we need to stick a step back before that and ask why.
因为我认为你现在已经掌握了机制方面的内容，这就是如何，好的，这个你最终会明白的。但现在我们需要在此之前退一步，问一下为什么。

Now the why part of it is portfolio allocation, but that's one. There are others. And there, as I think nina said, another reason is we are critical political economists. So we want to bring in that. And the third reason I would add is, if you go down the route of portfolio management theory, it will end up becoming a pretty highly mathematics, financial dissertation, which is where i'm not sure you
现在其中的原因是投资组合配置，但这只是一个原因。还有其他原因。正如我认为尼娜所说的，另一个原因是我们是批判性的政治经济学家。因此，我们希望将这一点纳入其中。第三个原因是，如果你走投资组合管理理论的路线，最终将变成一篇相当高深的数学金融论文，而我对此并不确定。

Omar 33:38
奥马尔 33:38
want to be supervised. I i'm not
想要被监督。我不是。

说话人1 33:41
说话人 1 33:41
sure yet that is one. And two. To be honest, I don't think you can get the data for it. At least in china, because the portfolios are not really public, are they?
当然，这确实是一个问题。老实说，我认为你无法获得相关数据。至少在中国，因为这些投资组合并不是真正公开的，对吧？

Omar 33:51
奥马尔 33:51
You're not sure.
你不确定。

说话人1 33:54
说话人 1 33:54
Ii ii think ii
我认为

Omar 33:56
奥马尔 33:56
don't know what kind
不知道什么种类

说话人1 33:57
说话人 1 33:57
of assets
资产的

Omar 33:58
奥马尔 33:58
they buy,
他们购买，

说话人1 33:58
说话人 1 33:58
especially very broken down, which is what basically people who do portfolio kind of allocation theory, people. They basically get a ton of data and try to kind of see what are the but more to take it a step back.
尤其是非常细分，这基本上是那些从事投资组合分配理论的人所做的。他们基本上获取大量数据，试图看看是什么，但更进一步。

So I think that why question is important.
所以我认为“为什么”这个问题很重要。

So you've done a bit of the mechanisms now, which we'll get to again, but take a step back and think why have sovereign wealth funds? Generally, what does the literature say about that? Why in this specific case of china? Does china have this connection between taking its reserves from the central bank and placed? Why does it have those sovereign wealth? I think if we can just find out what the literature says about that, what does it generally on sovereign wealth gods generally? In the case of china.
所以你现在已经了解了一些机制，我们会再回到这个话题，但请退一步思考一下，为什么会有主权财富基金？一般来说，文献对此有什么说法？在中国这个特定案例中又如何？中国是否存在将其中央银行的储备转移并投资的联系？为什么它会拥有这些主权财富？我认为如果我们能找出文献对此的看法，关于主权财富基金的一般观点是什么？在中国的情况下又是怎样的？

So I think maybe that would be the next step would be good to if you look at. While you're doing that, maybe at the same time, look at the analytic frameworks they're using, try to, as you're looking at those try to in your mind, see what kind of theories are they using. Someone like you remember, when an innocent you like alias, I let me they do more state capitalism. I think I sent you the book that a it just has a new book out with someone that looks at state capitalism. So that might be one I that's one hypothesis that people are a lot putting out, is that the state is playing a more muscular role.
所以我认为，也许下一步可以考虑的是，如果你在进行这个的时候，可能同时看看他们使用的分析框架，试着在心里想一想，他们使用了什么样的理论。你还记得，有一个无辜的人像阿利亚斯，我让他们更多地关注国家资本主义。我想我把那本书发给你了，它刚刚出版了一本新书，里面有人研究国家资本主义。所以这可能是一个假设，很多人提出的假设是，国家正在发挥更强有力的作用。

Now. And one of the more ways that the state is involved is through a sovereign wealth policy. At least, for example, some people argue that, in the case of saudi arabia, for example, with the pif that's their sovereign wealth fund that acts more as kind of a private equity kind of thing before it was just managing reserves, managing treasury bills. It was mainly, we get a lot of oil money, but someday, but then we need to basically pay off a lot of things in dollars. The whole role was this managing reserve.
现在，国家参与的方式之一是通过主权财富政策。例如，有人认为，在沙特阿拉伯的情况下，公共投资基金（PIF）作为他们的主权财富基金，更多地表现为一种私募股权的形式，而在此之前，它只是管理储备和国库券。主要是，我们获得了大量的石油收入，但有一天，我们需要用美元支付很多东西。其整体角色就是管理储备。

Now more they're like going into private equity, investing in football clubs and all of that stuff. So you might want to look at the literature of why do people say saudi arabia doesn't? Why does china do it? And as you're doing that, think of the analytic frameworks that they're using. Like I maybe eliot enemies, one another. Is you remember the piece I sent you by brad schatz? Brad said. So the last one where his reasoning, I think, was that basically, it's a way for china to to kind of, as he says, he thinks it is a way to kind of continue this model of export growth that they have an issues domestically.
现在他们更像是进入私募股权，投资足球俱乐部等等。因此，您可能想看看文献，为什么人们会说沙特阿拉伯不这样做？中国为什么这样做？在您进行这些思考时，考虑他们使用的分析框架。就像我可能提到的艾略特的敌人，您还记得我发给您的布拉德·沙茨的那篇文章吗？布拉德说，最后一篇文章中他的推理，我认为，基本上是中国的一种方式，正如他所说的，他认为这是一种继续他们所拥有的出口增长模式的方式，而在国内存在问题。

They don't want to increase consumption, and it's a way for them to kind of continue down this export growth model. He is, although I like it, because he does a lot of data driven, or at least not mathematical, but uses a lot of number data. He has a lot of empirical, which is good. But he's also very kind of policy oriented. So he doesn't use a lot of the critical kind of frameworks, but it's useful to look at how these two different people do it. So I think maybe I that might be the next step now is we've got how at least a bit of a start on it.
他们不想增加消费，这对他们来说是一种继续沿着出口增长模式前进的方式。他的做法我很喜欢，因为他使用了很多数据驱动的方法，或者说至少不是数学的，但使用了大量的数字数据。他有很多实证研究，这很好。但他也非常注重政策。因此，他并没有使用很多批判性的框架，但观察这两种不同的人是如何做的还是很有用的。所以我认为，也许这可能是下一步，现在我们至少有了一些起步。

Now we want to take it a step back and go with the why are why do a countries generally are moving towards sovereign lifetime? Why specifically china? What does the literature say about this? Once we have that, then we can maybe eventually, obviously, you might focus on one of the goals, or one or two of the roles, and then go in depth with it. But at least to begin with, let's try to see what are these, what are these goals? And what are the frameworks we could use to analyze it? Yeah. So
现在我们想退一步，探讨一下为什么各国普遍趋向于主权寿命？为什么特别是中国？文献对此有什么说法？一旦我们有了这些信息，那么我们可能最终会专注于一个目标，或者一两个角色，然后深入研究。但至少一开始，让我们尝试看看这些目标是什么？我们可以用什么框架来分析它？是的。

Omar 37:54
奥马尔 37:54
what, for
什么，为了

说话人1 37:54
说话人 1 37:54
example, that guy that you just sure, what does he say is that why did they move towards having sovereign love?
例如，那个人你刚才说的，他说的是什么？他们为什么会朝着拥有主权之爱发展？

Omar 38:01
奥马尔 38:01
Liu julian
刘朱利安

说话人1 38:02
说话人 1 38:02
liu,
刘，

Omar 38:03
奥马尔 38:03
somebody there? Yes, she said she sent here.
有人在吗？是的，她说她把这里发过来了。

说话人1 38:14
说话人 1 38:14
See, so they're saying there are domestic reasons for it as well. They want to kind of create competition between the okay, so obviously, we've only focused on the external.
他们说这背后也有国内原因。他们想要在内部创造竞争，显然，我们只关注了外部因素。

So obviously, there might be domestic reasons that they're also trying to do this. Maybe they want to create other stuff. You remember, jeff, right? He was
显然，他们可能还有国内原因促使他们这样做。也许他们想创造其他东西。你还记得，杰夫，对吧？他曾经

Omar 38:33
奥马尔 38:33
our jeffrey.
我们的杰弗里。

说话人1 38:34
说话人 1 38:34
What are they?
它们是什么？

Jeffrey?
杰弗里？

Omar 38:37
奥马尔 38:37
Not
不

说话人1 38:38
说话人 1 38:38
that I would win.
我会赢。

Now, anyway, he's also from the gpe team. Anyway, somebody mentioned
现在，无论如何，他也是来自 gpe 团队的。无论如何，有人提到过。

Omar 38:42
奥马尔 38:42
it from the civil war.
它来自内战。

说话人1 38:43
说话人 1 38:43
Yeah. Anyway, that so obviously, there are domestic reasons then as well that we don't know about. So that's so I think it's good to if we can start by mapping out these different reasons and finding out what does the literature review say about them? What kind of analytic framework do they use? What is the approach they use?
是的。无论如何，很明显，还有我们不知道的国内原因。因此，我认为如果我们能开始梳理这些不同的原因，并找出文献综述对此的看法，那是很好的。它们使用了什么样的分析框架？它们采用了什么样的方法？

Omar 39:07
奥马尔 39:07
Yeah. He is, I so she use a very strange I content analysis,
是的。他是，我所以她使用了一种非常奇怪的内容分析。

说话人1 39:19
说话人 1 39:19
content analysis of what speeches. That's the methodology.
演讲内容分析。这就是方法论。

Omar 39:23
奥马尔 39:23
What's the theory? What's the kind of like sissy to you love a foreign leverage for wealth fund? She think china's government fund as a leverage bonds, but the series you, since she not use a particular theory, actually, she's
理论是什么？对你来说，像是娘娘腔的外国财富基金有什么样的杠杆？她认为中国的政府基金是一种杠杆债券，但你系列的，因为她没有使用特定的理论，实际上，她是

说话人1 39:44
说话人 1 39:44
not very she so maybe it's not a very empirical, okay?
不是很，她，所以也许这不是一个很实证的，好的？

Omar 39:50
奥马尔 39:50
I I think what they may say and I think you were saying is I think that now it is stated, we have kind of pushed with in every meeting.
我认为他们可能会说，我认为你所说的是，我认为现在已经表明，我们在每次会议中都在推动这一点。

But I think what we really need is a literature review. I have one point about the social review is from a scholar, international scholar, or could I use chinese scholars? What about chinese scholars haven't published on the international magazine? In
但我认为我们真正需要的是一篇文献综述。我有一个关于社会综述的观点，是否应该引用国际学者，还是可以使用中国学者？如果中国学者没有在国际期刊上发表过，应该如何处理？

说话人1 40:19
说话人 1 40:19
fact, what you could probably add that other people who go there is that you have access to the to the literature in chinese and the data in chinese.
事实是，您可能可以补充的是，其他去那里的人可以获得中文文献和中文数据。

So for sure, not only that you can do it, you should do it. I
所以，肯定的不仅是你可以做到，你应该做到。

Omar 40:32
奥马尔 40:32
I think what we need a mapping of the bodies of literature which have analyzed the role of sovereign wealth funds as reserve managers. And he could be senate. You say there's a body of literature in state capitalism, which we have. There's a body of literature in china, which focuses on domestic political part. There is a body of literature. So I think just to kind of start identifying the reasons of why china might not live with us according to the existing work.
我认为我们需要对分析主权财富基金作为储备管理者的文献进行梳理。他可以是参议院。你说在国家资本主义方面有一系列文献，我们确实有。在中国方面也有一系列文献，重点关注国内政治部分。还有一系列文献。因此，我认为可以开始识别中国可能不与我们合作的原因，依据现有的研究。

说话人1 41:07
说话人 1 41:07
So it needs
所以它需要

Omar 41:08
奥马尔 41:08
to be china generally by the market. So that then we can get a frame of what the literature tells us about the potential reasons, this literature and then because I look at this and say, okay, so now the task is to find out what we think matters in china through your own paper receipts.
通过市场来了解中国。因此，我们可以获得文献告诉我们的潜在原因的框架，然后因为我查看这个并说，好吧，现在的任务是通过你自己的纸质收据找出我们认为在中国重要的因素。

说话人1 41:30
说话人 1 41:30
So maybe to say, let's say over the next period, the main question is, why do states with reserves or central banks with the reserves have sovereign wealth funds? And specific? And within that, why does china have sovereign wealth? So both within sovereign wealth, generally, and china. And the second question is with that, what does the literature use as analytic frameworks when looking at that question? So kind of try to gather the literature to look at the answer that question of why generally sovereign muslims generally, and then china. And within that, what are the analytic frameworks that are being used to answer these questions? And as anita said, what does like the state capitalism kind of people who approach this question, use as an analytic framework? And this is the reasons they give the people. And they know this book gives the reason of that it is a way to got domestic competition.
所以也许可以说，假设在接下来的时间里，主要的问题是，为什么拥有储备的国家或拥有储备的中央银行会有主权财富基金？具体来说，为什么中国会拥有主权财富？这两个问题都涉及主权财富的一般情况以及中国的情况。第二个问题是，在这方面，文献在研究这个问题时使用了什么分析框架？因此，试图收集文献，以探讨为什么一般的主权财富以及中国的主权财富。并且在这方面，使用了哪些分析框架来回答这些问题？正如安妮塔所说，国家资本主义的研究者在处理这个问题时使用了什么样的分析框架？这是他们给出的理由。他们知道这本书给出的理由是，这是一个应对国内竞争的方式。

If it uses an analytic framework, this is the one it uses or not. And hopefully, once we do that nothing, and then becomes clear, then we can put the why and which part of the why you want to go in depth in, then we can also then start connecting it to the heart. The heart which already you've kind of started with the middle part.
如果它使用分析框架，这就是它使用的框架或不使用的框架。希望一旦我们这样做了，什么都变得清晰，那么我们可以明确为什么以及你想深入探讨的哪个部分，然后我们也可以开始将其与核心联系起来。核心部分你已经在中间部分开始了。

Now we've got to take a step back and start with that y way.
现在我们必须退一步，从那个 y 的方式开始。

Omar 42:59
奥马尔 42:59
A i'm a little hurry. Iii because my deadline of the 24 is january, the end of the whole. So ii want to speed up my progress.
我有点着急。因为我的截止日期是 1 月 24 日，整个项目的结束时间。所以我想加快我的进度。

说话人1 43:15
说话人 1 43:15
The dead, which deadline you mean the phd for the transfer? The deadline is 30th of january,
你指的是转学的博士申请截止日期吗？截止日期是 1 月 30 日

31, first of february. It's fine. I you've got, I I I think let's if we can, we'll have a meeting next month, maybe on this. Let's see where we reach with this. And then based on that, once we have kind of more of a mapping for that question, we can start gearing it more towards making it into the official thing to submit for your because that one is basically it has to be kind of a rough draft of a chapter, a kind of a literature over not
31，二月的第一天。很好。如果可以的话，我认为我们下个月可以开个会，或许就这个问题。让我们看看我们能达到什么结果。然后基于此，一旦我们对这个问题有了更清晰的框架，我们就可以开始将其更好地调整为提交给你的正式材料，因为那基本上需要是一个章节的粗略草稿，类似于文献综述。

Omar 43:56
奥马尔 43:56
a literature in the different perceptions of how that thing needs to look like even within the business school.
在商学院内部，对于事物应有的样子存在不同的看法。

But I think also don't forget you have a lot of material,
但我认为也不要忘记你有很多材料

说话人1 44:03
说话人 1 44:03
right? A you have for
对吗？你有吗？

Omar 44:05
奥马尔 44:05
what you sent us about the improved in china. You've got the technicalities.
你发给我们的关于中国改进的内容。你掌握了技术细节。

And so ii totally agree with them. I think what we now need, the way we still have bits and pieces. What we now need to preface all of this is a literature. That's what we should focus on for the next month or two. And once we have that, we start putting it together into a transfer document. And you have time for that. You already have material. Yeah, so don't worry about what we need a literature with you. I think that's really important because you need to be able to tell. The reader write, they have talked about this, they have talked about this, and they have talked about this, and then talked about it in that way. It's about.
所以我完全同意他们的观点。我认为我们现在需要的，是将这些零散的部分整合起来。我们现在需要为这一切做一个前言，这就是我们接下来一个或两个月应该专注的内容。一旦我们有了这些，我们就可以开始将其整理成一份转移文件。你有时间去做这个。你已经有了材料。所以不用担心我们需要什么文献。我认为这真的很重要，因为你需要能够告诉读者，他们谈论了这个，他们谈论了那个，然后以那种方式谈论了它。这就是关键所在。

说话人1 44:45
说话人 1 44:45
So just put for yourself for the next month, month and a half. Why? Sovereign wealth funds?
所以就为自己设定下一个月、一个半月的目标。为什么？主权财富基金？

Omar 44:52
奥马尔 44:52
That's the big question. That's a big question.
这就是大问题。这是一个大问题。

说话人1 44:54
说话人 1 44:54
And within that, china, so china with sovereign wealth funds,
在其中，中国，拥有主权财富基金的中国，

Omar 45:00
奥马尔 45:00
and
和

说话人1 45:02
说话人 1 45:02
within that, what are the analytic frameworks being used to answer that question? And just guide yourself with that? Anything outside of that leave it for now. It might be useful for later how the mechanics find. That's all good. But let's now focus, I think, for the next month and a half period is on answering that question. The why and what does the literature review say about it? Both as kind of an answer to that question and as an analytic framework. Those are the two parts is why and what is the analytic framework being used to answer that question?
在这方面，使用了哪些分析框架来回答这个问题？就以此为指导吧？其他的暂时先放一边。后面可能会对机制的发现有用。这都很好。但我认为接下来的一个半月我们应该专注于回答这个问题。为什么，以及文献综述对此有什么看法？这既是对这个问题的回答，也是一个分析框架。这两个部分就是为什么，以及用来回答这个问题的分析框架是什么？

Hopefully, once we have that, then the next step after that is to put it together for the submission exactly at the end of the year.
希望一旦我们有了这些，下一步就是在年底前将其整理好以便提交。

Omar 45:44
奥马尔 45:44
So I agree with that.
所以我同意这一点。

So I think maybe spend the next month mainly reading, read, and start to categorize, start to create bubbles or tables where you shift people in it. Can they talk about this later so that this paper talks about this paper talks about it about in the same way. Let's put it in that tables. This paper made from something else, put it in that category, right? And spent the next month reading, categorize, make these lists. And then we have a sense of the literature. We discussed it, and then you can start writing it up and summarizing. Your research question is the underpinning research questions? Why do developing countries fit? Like government use sovereign nonsense? That's your guiding question. That's how you how are you going to read the literature? How do they answer that question?
所以我认为接下来的一个月主要是阅读，阅读，并开始分类，开始创建气泡或表格，将人们放入其中。他们可以稍后讨论这个问题，以便这篇论文以相同的方式讨论这篇论文。我们把它放在那些表格里。这篇论文是从其他东西中得出的，把它放在那个类别里，对吧？然后花一个月的时间阅读、分类，制作这些清单。然后我们对文献有一个整体的了解。我们讨论过，然后你可以开始写作和总结。你的研究问题是基础研究问题？为什么发展中国家适合？比如政府使用主权无意义？这就是你的指导问题。这就是你如何阅读文献的方式？他们如何回答这个问题？

说话人1 46:37
说话人 1 46:37
You'll find yourself while doing it. As nina said, you're gonna start categorizing all these guys do domestic reasons. These guys give external international reasons within the international or geopolitical reasons, financial, whatever
你会在做的过程中找到自己。正如尼娜所说，你会开始将这些家伙归类为国内原因。这些家伙在国际或地缘政治原因、金融等方面给出外部国际原因。

portfolio reason, and all these guys are using critical state capitalist approach.
投资组合原因，所有这些人都在使用批判性国家资本主义方法。

These guys are approaching it from geopolitical rivalry type of approach. Maybe someone like adam too, is like on about, I don't know, macro financial kind of you remember, when we did it in the class, kind of that micro financial matrix, kind of stuff, whatever the reasons are, right? But so that's kind of what we so just keep that question in your head.
这些人正从地缘政治竞争的角度来处理这个问题。也许像亚当这样的人，也在谈论，我不知道，宏观金融方面的事情，你还记得我们在课堂上做的那种微观金融矩阵之类的东西，无论原因是什么，对吧？所以这就是我们所说的，所以请把这个问题放在心里。

Omar 47:25
奥马尔 47:25
And
和

说话人1 47:26
说话人 1 47:26
start building around with the literacy review. So hopefully that's that would probably keep you busy for by how is your schedule, like, by the way, over the next period, because I know you are doing a lot of other things, right?
开始围绕文献综述进行构建。所以希望这可能会让你忙碌一段时间，顺便问一下，你接下来一段时间的日程安排是怎样的，因为我知道你还在做很多其他事情，对吧？

So
所以

with the accounting stuff,
与会计相关的事务，

Omar 47:50
奥马尔 47:50
sorry, I ii don't
抱歉，我不

说话人1 47:52
说话人 1 47:52
understand once you're doing like an accountancy, cpa or ca kind of thing.
一旦你从事会计、注册会计师或特许会计师之类的工作，就会理解。

Omar 47:57
奥马尔 47:57
Acc
翻译文本：Acc

I study myself.
我研究自己。

说话人1 48:03
说话人 1 48:03
But i'm saying like, so are you like, how is your kind of time looking? Because then I remember you had to go home and you had some health with your family, with your father, right? I remember you
但我想问，你的时间安排怎么样？因为我记得你得回家照顾家里的健康问题，和你父亲，对吧？我记得你

Omar 48:18
奥马尔 48:18
said,
说，

说话人1 48:18
说话人 1 48:18
so ii i'm asking, how is your time looking over the next 23 months? How is your schedule looking? Are you?
所以我在问，你接下来的 23 个月时间安排怎么样？你的日程安排如何？你呢？

Omar 48:27
奥马尔 48:27
Ii could work all the time because I change the flight. I will back on time, november 10th,
我可以一直工作，因为我更改了航班。我会按时回来，11 月 10 日。

说话人1 48:35
说话人 1 48:35
ok
好的

Omar 48:36
奥马尔 48:36
or 8th okii want to back earlier.
或第八个 okii 想要提前回来。

说话人1 48:40
说话人 1 48:40
Okay, iii just wanna check that you're okay, time wise,
好的，我只是想确认一下你在时间上还好吧

you have time to work on.
你有时间来处理。

Omar 48:45
奥马尔 48:45
I'm okoki just want to have a look with my parents. Yeah. So you're going back to china on the 8th on the 10th of november. Yeah, how long will you be staying 10 days or 2 weeks? 10 days or 2 weeks?
我没事，只是想和我的父母一起看看。是的。那么你将在 11 月 8 日或 10 日回中国。是的，你会待多久，10 天还是 2 周？10 天还是 2 周？

说话人1 49:05
说话人 1 49:05
Yeah, so when you're back, maybe we'll meet. So november, whatever the end of november. I just want
好的，所以等你回来时，也许我们会见面。大概是十一月，或者说十一月底。我只是想要。

Omar 49:12
奥马尔 49:12
to speak to my professor.
与我的教授交谈。

说话人1 49:13
说话人 1 49:13
I know, I think, look, let's put that for the next month and a half. Okay? Put that question. And within that, the why and the analytic approaches, as you're doing the readings, map them, keep categorize them, put them together. How how do I want it? Then the after that will, hopefully in your head as well, it'll become a bit clear by that point.
我知道，我想，听着，我们把这个放到下个月和下一个半月。好吗？提出这个问题。在此基础上，为什么以及分析方法，在你进行阅读时，进行映射，保持分类，把它们放在一起。我想要什么？然后希望在那之后，你的脑海中也会变得稍微清晰一些。

And then we'll work on catering it and gearing it in those last 2 months towards your whatever it's called. What is it called? The 12 months, the
然后我们将在最后两个月内对其进行调整，以适应你的那个叫什么的。它叫什么？12 个月，

Omar 49:52
奥马尔 49:52
transfer five and the transfer
转移五和转移

说话人1 49:53
说话人 1 49:53
months last transfer. Just for now read as much as you can, and categorize and
几个月的最后转移。现在尽可能多地阅读，并进行分类和整理。

put the different parts together as you're doing.
将不同的部分组合在一起，就像你正在做的那样。

Omar 50:07
奥马尔 50:07
And then you read the paper, answer two questions. Why do they think it's are they using sovereign wealth funds? And how do they analyze it? So what analytic framework, what theory, what concepts, how they use it to explain this law? So that also focus on like methodology. I wouldn't
然后你阅读论文，回答两个问题。他们为什么认为使用主权财富基金？他们是如何分析的？那么，什么分析框架，什么理论，什么概念，他们如何用它来解释这项法律？所以这也关注方法论。我不会

说话人1 50:29
说话人 1 50:29
forget about that. What's
忘掉那个。什么

Omar 50:30
奥马尔 50:30
the knowledge about what it's about, what perception, what analytical perception
关于其内容的知识、感知、分析性感知

说话人1 50:33
说话人 1 50:33
I forget about this.
我忘记了这个。

Omar 50:34
奥马尔 50:34
It might just be that they're very empirical papers, in which case they don't have an unedited framework. They're literally just describing what's happening, in which case you only focus on the read and then make your story. And I think the most important way. So I think, anyway, that's a lot of public
它们可能只是非常实证的论文，在这种情况下，它们没有经过编辑的框架。它们实际上只是描述发生了什么，在这种情况下，你只需关注阅读，然后构建你的故事。我认为这是最重要的方式。所以我认为，无论如何，这涉及到很多公众。

说话人1 50:50
说话人 1 50:50
decision. Yeah.
决定。是的。

Omar 50:50
奥马尔 50:50
The two categories according to which you need to classify more analyzes what are the reasons and what conception kind of things.
您需要分类的两个类别是分析原因和概念的事物类型。

说话人1 50:58
说话人 1 50:58
Yeah, because the methodology will come later and it will depend on what you do, right? I it might end up. You're like, I need to do a historical chapter when I look at how they've come over the last 20, 30 years. It might be like, actually, I need to do interviews, and I need to kind of meet people who do it or whatever.
是的，因为方法论会在后面出现，并且会依赖于你所做的，对吧？我可能最终会发现，我需要做一个历史章节，看看他们在过去 20、30 年中的发展。可能实际上，我需要进行访谈，或者我需要见见从事这个的人，或者其他什么。

So that will come to, I think, for now. Let's focus on those two questions. Why analytic framework with it?
所以这就到此为止，我认为，暂时先这样。让我们关注这两个问题。为什么要使用分析框架？

Omar 51:25
奥马尔 51:25
Okay?
好的？

说话人1 51:27
说话人 1 51:27
I unfortunately, i'm gonna have to run because I have an smt meeting, but you don't call them smt it's like senior man is stupid, the management. Yeah, I don't do management stuff. Ii got roped into it this year and it's just
我很遗憾，我得走了，因为我有一个 SMT 会议，但你不能称它为 SMT，这就像是高级管理人员很愚蠢，管理层。是的，我不做管理的事情。今年我被拉进来了，这就是。

Omar 51:44
奥马尔 51:44
you
你

说话人1 51:48
说话人 1 51:48
are. That's at least the research is more
至少研究更为明确。

Omar 51:52
奥马尔 51:52
funny. Yeah, I know, I don't know. Okay? And then you write us an email suggesting some potential dates right after you back from china. Okay? And then you'll try to meet if almost any needs, we can meet a person if not be presented. No,
有趣。是的，我知道，我不知道。好吗？然后你在从中国回来后给我们写一封电子邮件，建议一些潜在的日期。好吗？然后如果几乎任何需求，我们可以见面，如果不能见面也没关系。不是，

说话人1 52:08
说话人 1 52:08
i'll be in I the second half of november
我将在十一月下半月到达

Omar 52:11
奥马尔 52:11
over here. What happened? It is the second half
在这里。发生了什么？这是下半场。

说话人1 52:13
说话人 1 52:13
of november, for sure will be. And we'll do it. Again,
十一月，肯定会做到。我们会再次做到。

if there is anything, in the meantime, you reach out to me
如果有任何事情，请随时联系我

Omar 52:23
奥马尔 52:23
if
如果

说话人1 52:24
说话人 1 52:24
you're feeling like i'm I need some help with the literature to start off with, or i'm getting a bit lost or whatever just email, okay?
你觉得我需要一些文献方面的帮助来开始，或者我有点迷失了，随便发封邮件就可以，好吗？

But just do it systematically.
但要系统地进行。

Omar 52:36
奥马尔 52:36
I'm sure this one. Yeah, thank you for coming here is we are the tiny to the one.
我确定这一点。是的，感谢你来到这里，我们是微小的。

说话人1 52:47
说话人 1 52:47
Where are you going?
你要去哪里？

Lemonade. I
柠檬水。我

Omar 52:49
奥马尔 52:49
am, right? I'm sorry,
对不起，我是对的，对吗？

说话人1 52:51
说话人 1 52:51
i'm very good at it.
我很擅长这项工作。

Omar 52:53
奥马尔 52:53
Needs a teacher to find the company of the
需要一位教师来寻找公司的陪伴

what's going on actually complained about things. We have the I have to make sure right now. I put it out, right? And it's so calling such factory about it. Very big. Hi, very nice to see you present, see you soon. We'll come
实际上发生了什么抱怨的事情。我们有，我现在必须确保。我把它放出来了，对吧？而且对此如此呼叫这样的工厂。非常大。嗨，很高兴见到你，期待很快再见。我们会来。

说话人1 53:31
说话人 1 53:31
to you. Bye. Also, you
再见。还有，你。

Omar 53:35
奥马尔 53:35
in
在

说话人1 53:36
说话人 1 53:36
the two more years. So priorities that if you feel something that is not, it's not useful for what you're gonna be doing, or that it said, don't worry about it. I don't know this question.
这两年多。因此，如果你觉得某件事对你将要做的事情没有用，或者说，不用担心。我不知道这个问题。

Don't worry about it. And if you find that one of the modules, by the way, is not helping you, then you don't need to continue. Don't worry.
不用担心。如果你发现其中一个模块对你没有帮助，那么你不需要继续。别担心。

It's fine. You're just auditing it, you're just picking in on it. It is for your own benefit. If something is not benefiting, you don't feel like you have to do it, right? Give it see what weeks there are. And what comes, what is something that you feel is this is not useful for what i'm doing. Don't worry, because I can remember in the economics department, there are also, they're not like us that we do more political economy, which is more critical, right? They do more maps and like and model new classical.
没关系。你只是旁听，随便看看。这是为了你自己的利益。如果某件事没有带来好处，你就不会觉得必须去做，对吧？看看有哪些周次。如果有什么你觉得对你所做的事情没有用的，不用担心，因为我记得在经济系，他们也不太像我们这样做更多的政治经济学，更具批判性，对吧？他们更多的是做图表和新古典模型。

Yeah, since for you think the reason to do the monkey is that for you to get benefits out of it, right? For your disappearance or maybe something of this capitalism or whatever. Great. But if it's something that you feel, if the other modules, the ma one, the feeling is not pretty, or maybe it's a particular topics, maybe a particular
是的，因为你认为做猴子的原因是为了从中获得好处，对吧？为了你的消失，或者可能是这种资本主义的某种东西，或者其他什么。很好。但是如果这是你所感受到的，如果其他模块，ma 模块，感觉不好，或者可能是某些特定主题，也许是某个特定的。

Omar 54:54
奥马尔 54:54
week,
周，

说话人1 54:55
说话人 1 54:55
you're feeling this is not relevant. I think that's fine. And you don't need to if you don't, it's more you're better off spending that time, reading those, answering the questions that we were just talking about.
你觉得这没有相关性，我认为这没关系。如果你不想这样做，也没必要，花时间去阅读那些内容，回答我们刚才讨论的问题会更有益。

Omar 55:09
奥马尔 55:09
Iii was thinking if I attended the examination, that's
我在想如果我参加考试的话，

说话人1 55:13
说话人 1 55:13
interesting. No, you definitely don't do. Definitely, but this is for you to to benefit from, it's not to create extra work for you to just think of it as is this gonna help me? Is it gonna expose me, too? Because I think one of the critical things that you will have to deal with eventually, which i'm hoping this is what the modules will help you with. Is the analyst experience. How do people approach different as it is perspective?
有趣。不，你绝对不需要这样做。确实如此，但这对你是有益的，并不是为了给你增加额外的工作，只需考虑一下这是否会对我有帮助？这是否也会让我暴露？因为我认为你最终必须处理的一个关键问题，我希望这些模块能帮助你解决的，就是分析师的经验。人们如何以不同的视角来处理问题？

Omar 55:49
奥马尔 55:49
But here is
但这里是

说话人1 55:51
说话人 1 55:51
the state capitalist approach, as we said, is it more kind of enter institutional competition? How are you analyzing that? So that's, i'm hoping that might be what the modules benefit you.
国家资本主义方法，正如我们所说的，是更倾向于进入制度竞争吗？你是如何分析这个的？所以，我希望这可能是模块对你的好处。

But again, if you feel something is not benefiting you and don't feel like I just need to do this because focus on what you're gonna is useful for you that you feel is gonna be useful to help you with your
但是，如果你觉得某件事情对你没有益处，并且不觉得我只是需要这样做，因为专注于你将要做的事情对你有用，你觉得这将有助于你

Omar 56:16
奥马尔 56:16
don't come
不要来

说话人1 56:17
说话人 1 56:17
up with parts, right? So in the money module, for example, if it was all when we did, maybe we the reserves part that was useful, right? You are the least, but if it's something don't just focus on now answering those two questions. Okay? Already, you good luck with it and we'll be introduction and don't stress. And the most important thing is don't stress. Just do the work.
与各个部分一起，对吧？所以在资金模块中，例如，如果我们做的所有事情，也许我们有用的部分是储备，对吧？你至少是这样，但如果是某些事情，不要仅仅专注于现在回答这两个问题。好的？已经，祝你好运，我们将进行介绍，不要有压力。最重要的是不要有压力。只需完成工作。

Thank you so
谢谢你

Omar 56:46
奥马尔 56:46
much.
很多。