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Essentially , they became like hedge funds -- big speculative , risk-taking machines .

事实上，他们变得有点像对冲基金，成为规模庞大的投机冒险机器。

But china 's imports are mostly for speculative inventories .

但是中国的进口主要是满足投机存货。

Why would anyone chase one ponzi scheme after another when there were other avenues of investment that were not so speculative ?

为什么？虽然拥有其它不那么投机的投资渠道，为什么盘式骗局一个跟着一个出现？

Venture capital transmogrified into speculative fever .

风险资本改头换面进入投机热。

Those will attract speculative inflows .

那些泡沫会吸引投机资金的涌入。