Vietnam's financial markets have had a tumultuous year. The once high-flying stock market has fallen more than 30 percent, since January 1, and inflation has ballooned. A major investors' conference was scheduled to start Tuesday in Hanoi ,but last week, the government called it off.
越南金融市场经历了动荡的一年。曾经飞涨的股票市场下降了30%多。通货膨胀率从今年1月1号开始上升。按计划于星期二在河内召开一次主要投资者会议，但是政府上星期取消了这次会议。
The Euromoney Vietnam Investment Forum was supposed to bring hundreds of the world's top money managers to Hanoi. The scheduled keynote speaker was Sandy Flockhart, head of Asia operations for HSBC - one of the world's top-five banks.
欧洲货币越南投资论坛应该召集几百名世界顶尖级的货币管理人员到河内。按照会议议程，会议的主要发言人是世界五大银行之一的汇丰银行亚洲分部的负责人弗洛克哈特。
But, HSBC spokeswoman To Quynh says, last Thursday, HSBC got a call saying Flockhart would have to reschedule.
但是，汇丰银行的发言人琼说，汇丰银行上星期四接到电话被告知弗洛克哈特需要重新安排时间。
Quynh says the government asked Euromoney, the conference's organizer, to postpone it until September.
琼说：“越南政府要求会议的组织者‘欧洲货币’把会议推迟到9月举行。”
The government said it was worried about "a combination of pressing macro and micro-economic concerns." Vietnam's stock market is the worst performer in Asia this year.
越南政府说，越南政府担心“紧迫的宏观和微观经济的综合忧虑”。越南今年的股票市场是亚洲国家中最不景气的。
But investors criticized the decision, saying the government had missed an opportunity to reassure investors and ask for advice. Le Dang Doanh is an outspoken Vietnamese economist and a former advisor to the prime minister.
但是，投资者批评越南政府的这一决定，说越南政府错过了一次安定投资者和获得建议的机会。直言不讳的越南经济学家、越南总理的前顾问多恩说：
Doanh says the more difficult the situation is, the more important it is to have an open dialogue with investors, to calm their suspicions and concerns.
“越南的处境越困难，就越要与投资者们进行一次公开谈话，以消除他们的疑虑和担忧。”
Vietnamese officials have gotten used to reporting good news. The country's economy has grown more than seven percent a year since 2001.
越南官员已经习惯于一些正面消息的报导。从2001年以来，越南每年的经济增长率达到7%以上。
After Vietnam joined the World Trade Organization last year, foreign investment flooded in - topping $20 billion last year.
在去年加入了世界贸易组织后，越南吸引了大量外国投资。越南去年的外来投资金额创下最高记录，达到200亿美元。
But the influx of dollars created upward pressure on the exchange rate of the Vietnamese dong, which could have hurt exports. To keep the dong from rising, Vietnam's State Bank bought dollars and that contributed to inflation. Benedict Bingham, the International Monetary Fund's representative in Hanoi, explains.
但是，美元进入越南给越南盾汇率的上升造成压力，越南盾的汇率上升将影响越南的出口贸易。为了防止越南盾的升值，越南央行购进美元，这一措施导致通货膨胀。
"That left the banking system with an excess of dong. And, it was that surplus of dong liquidity in the first half of last year that generated the rise in bank credit, and that rise in bank credit contributed to the increase in inflationary pressure," said Bingham.
国际货币基金组织驻河内的代表宾厄姆解释说：“这使越南银行系统持有过多的越南盾。而且，去年上半年过多的越南盾流通导致了银行贷款的增加，银行贷款的增加导致了通货膨胀压力的增加。”
Meanwhile, the dollar was falling, making it even harder to keep the dong from rising. Prices for the commodities Vietnam imports were rising, too.
