求翻译：欧美主权信用危机的升级,使全球经济面临着新一轮的经济动荡。在中国,地方政府债务具有隐蔽性和不确定性,因此一直没有引起各级地方政府的高度重视。日益膨胀的债务规模背后蕴含着巨大违约风险，可能成为未来财政危机的导火索。本文以地方政府债务风险为研究对象,按照风险识别–风险评估–风险管理的研究思路，首先从风险矩阵入手对地方政府债务风险状况进行了实证研究，其次分别以经济领域和制度因素角度对地方政府债务风险的成因进行了分析论述，最后，通过债务风险指标量化和可持续性研究, 提出了构建风险预警管理体系,防范和化解地方政府债务风险。是什么意思？

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European and American sovereign credit the escalation of the crisis, the global economy is facing a new round of economic instability. In China, the local government debt has hidden, and uncertainty, has been without a local governments at all levels from the high degree of attention. The expanding

The European and American sovereignty credit crisis promotion, causes the global economy to face the new turn economy to be turbulent.In China, the local authority debt has the confidentiality and the uncertainty, therefore has not caused all levels of local authority to take highly.Day by day infla

Upgrade of Europe's credit crisis, the global economy is facing a new round of economic turmoil. In China, local government debt with invisibility and uncertainties, therefore did not attach great attention to local governments at all levels. Behind the growing debt imply significant default risk, c