NO.PZ2015122802000105
问题如下：
Emerging markets have benefited from recent trends in international markets. Which of the following has not been a benefit of these trends?
选项：
A. Emerging market companies do not have to worry about a lack of liquidity in their home equity markets.
B. Emerging market companies have found it easier to raise capital in the markets of developed countries.
C. Emerging market companies have benefited from the stability of foreign exchange markets.
解释：
C is correct.
The trends in emerging markets have not led to the stability of foreign exchange markets.
考点：Private Equity and Non-domestic Equity Securities
这个地方讲的是随着全球化进程的加速，全球资本市场有三个明显的趋势：
1、an increasing number of companies have issued shares in markets outside of their home country
2、the number of companies whose shares are traded in markets outside of their home has increased
3、an increasing number of companies are dual listed, which means that their shares are simultaneously issued and traded in two or more markets.
总结来说，这三点的意思就是越来越多的公司选择在本国以外的市场发行股票，而且这些在国外市场中发行股票公司的交易量也上升了。此外，更多的公司选择在本国和外国同时发行并交易。
这道题就是问选项中哪一个不是新兴市场在这三个趋势下获益的方面。新兴市场在全球化进程中有三方面的benefits:
1、可以到国外融资，说明他们不需要担心资本管制了
2、如果在国内融不到钱，那么就可以去国外融资，缺乏流动性的担忧小了（这说的就是选项A）
3、他们发现在发达国家融资更加容易（选项B）
显而易见，这三点里没有提到选项C说的关于外汇市场稳定的问题。
和美元挂钩 就稳定吗……
