NO.PZ202105270100000508
问题如下：
Based on the composition of each country’s currency portfolio, which country is most vulnerable to a potential crisis?
选项：
A.Country A
B.Country B
C.Country C
解释：
C is correct.
Public debt makes up the majority of Country C’s currency portfolio, which is the least supportive flow (or holding) to a currency. Public debt is less supportive because it has to be serviced and must be either repaid or refinanced, potentially triggering a crisis. Some types of flows and holdings are considered to be more or less supportive of the currency. Investments in private equity represent long-term capital committed to the market and are most supportive of the currency. Public equity would likely be considered the next most supportive of the currency. Debt investments are the least supportive of the currency.
公共债务构成了C国货币组合的大部分，这非常不支持货币的流动性。公共债务的支持性较差，因为它必须得到偿还，而且要么必须偿还，要么必须再融资，这有可能引发危机。一些类型的流动和持有被认为或多或少地支持了货币。对私人股本的投资是对市场的长期投资，也是对货币最有利的支持。公共股权可能会被认为是下一个对货币最有利的因素。债务投资对货币的支持力度最小。
表1中 ，b国经常账户赤字，又有热钱流入，而c国虽然有热钱流出但经常账户盈余，比较起来应该b国更加脆弱吧
